Daily Market Comments(20210615) — Waiting

  • Stock markets dumped a little before the releasing of FOMC meeting results.
  • Biden and Putin will meet tomorrow.
  • WSB stocks not as strong as before.

Winners and Losers (in my watching list): AMC + 3.58%; TSP — 6.45%, CLOV — 6.07%

Bond Market: 10Y climbed to 1.498 and 30Y to 2.191

Equity Market: NASDAQ closing at 14072.86–0.71%; DJI 34299.33–0.27%; S&P500 4246.59–0.09%.

Econ Calendar: Wait for FOMC releasing on Wed.

Big News: Tomorrow will be a big meeting day, as U.S. President Biden will meet Putin and FOMC will release the meeting results at 2:00 PM, after a rising inflation concern. The FOMC meeting may seem to be more hawkish than before, as the inflation pressure is real. However, don’t think any significant change will be made. In terms of Biden — Putin meeting, Biden will try to meet Putin to say something, after meeting all the allies. Don’t expect them to make any real agreement on anything, but Biden may just want to ask Putin to admit that U.S. is the leader, and say some good words. Biden wants some face. And I do think that Putin will say some good words.

Guess On Next Move: When the hawkish meeting result released, the market may still trade in a range rather than follow a clear trend.

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