A Snapshot of the Market for the Week Ended April 9, 2021:
The days were relatively quiet because there were few economics prints and the results were mixed. The data signalled more of a whiff of inflation with producer prices risen 4.2% y/y and the jobless claims unexpectedly rose. Yet, the Atlanta Fed’s GDPNow model estimate for GDP growth (saar) in Q1 inched up 0.2% to 6.4% from last week. The market was waiting for the earning seasons to kick off next week. The Cboe Volatility Index, which is known as a fear gauge, closed at 16.95– the lowest level since February 2020. The rapid rollout of vaccines is reassuring investors, speculators and traders that the economy is about to get out of its pandemic miseries.
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By Hubert Marleau
By Hubert Marleau
