Market Analysis & Reporting
Before you continue
The information displayed on The Common Catalyst is provided for informational and educational purposes only. It does not constitute financial, investment, legal, or tax advice, and should not be relied upon as a recommendation to buy, sell, or hold any security or financial product.
By continuing, you acknowledge that you are responsible for your own financial decisions and should consult a qualified professional when appropriate.
Market Analysis & Reporting
Before you continue
The information displayed on The Common Catalyst is provided for informational and educational purposes only. It does not constitute financial, investment, legal, or tax advice, and should not be relied upon as a recommendation to buy, sell, or hold any security or financial product.
By continuing, you acknowledge that you are responsible for your own financial decisions and should consult a qualified professional when appropriate.
Market Analysis & Reporting
Before you continue
The information displayed on The Common Catalyst is provided for informational and educational purposes only. It does not constitute financial, investment, legal, or tax advice, and should not be relied upon as a recommendation to buy, sell, or hold any security or financial product.
By continuing, you acknowledge that you are responsible for your own financial decisions and should consult a qualified professional when appropriate.
Global cross-asset monitor
A connected view of global equities, rates, currencies, commodities, credit, and crypto.
Global riskometer
Constructive
+25 points in 7 days
Risk over time
JUL 18
JUL 19
JUL 20
JUL 21
JUL 22
JUL 23
TODAY
Primary driver
Falling volatility
Confirmation
Credit spreads tightening
Main tension
Long yields moving higher
Regime
Growth > inflation concern
| Region | Equity | Move | Sovereign rate | Move | Currency / USD | Move | Tone |
|---|---|---|---|---|---|---|---|
United States Open | S&P 500 | +0.38% | 10Y 4.36% | +3 bp | DXY 104.24 | -0.18% | Risk-on |
Europe Closed | STOXX 600 | +0.46% | Bund 2.58% | +1 bp | EUR 1.0834 | +0.12% | Firm |
United Kingdom Closed | FTSE 100 | -0.21% | Gilt 4.17% | +4 bp | GBP 1.2741 | -0.08% | Mixed |
Japan Closed | Nikkei 225 | +0.82% | JGB 1.06% | +2 bp | JPY 160.74 | -0.44% | Risk-on |
China Closed | CSI 300 | -0.54% | 10Y 2.24% | -1 bp | CNY 7.268 | -0.09% | Defensive |
Emerging Mkts. Closed | MSCI EM | +0.17% | EM spread 312 | -2 bp | EM FX basket | +0.11% | Stable |
| Market | Instrument | Level | Today | 1 week | Read-through |
|---|---|---|---|---|---|
| Equities | S&P 500 | 5,487.03 | +0.38% | +1.24% | Breadth improving |
| Equities | MSCI World | 3,541.18 | +0.31% | +0.92% | Global participation |
| Rates | U.S. 10Y | 4.36% | +3 bp | +8 bp | Yields pressuring duration |
| Rates | U.S. 2s10s | -31 bp | +2 bp | +5 bp | Curve steepening |
| Credit | U.S. HY spread | 318 bp | -4 bp | -11 bp | Stress receding |
| Currencies | U.S. Dollar | 104.24 | -0.18% | -0.42% | Tailwind for risk assets |
| Commodities | Brent crude | $85.08 | -0.64% | +0.77% | Supply premium easing |
| Commodities | Gold | $2,358 | +0.47% | +1.51% | Hedge demand intact |
| Crypto | Bitcoin | $61,842 | +1.76% | +4.23% | High-beta bid |
| Volatility | VIX | 12.31 | -4.28% | -8.07% | Complacent conditions |