Market analysis
Our published market notes, with dates and sources.
US technology shares led a sharp equity decline on Oct 30, while oil, gold, FX and crypto moved on different paths.
Read article ↗: Desk note - Oct 31: tech-led selling breaks the cross-asset pictureAlphabet-led earnings worries weighed on US equities on Oct 29, while commodities, currencies and crypto finished with mixed signals.
Read article ↗: Desk note - Oct 30: earnings pressure hits tech sharesThe October 28 Fed hold framed a modest US equity rise, while crude gained, gold slipped and crypto advanced in its UTC day.
Read article ↗: Desk note - Oct 29: Fed holds, cross-asset signals splitThe October 27 US close climbed on chip optimism, but lower Brent and EUR/USD showed why a stock rally was not a uniform risk-on session.
Read article ↗: Desk note - Oct 28: AI shares lead as markets divergeThe October 26 US close rose with AI shares after Anthropic filed an S-1, while oil, currencies and crypto did not confirm a broad risk-on move.
Read article ↗: Desk note - Oct 27: AI filing lifts tech, not the whole tapeIn the October 23 US session, crude climbed and stocks fell; FX, gold and crypto also eased across their named windows.
Read article ↗: Desk note - Oct 24: oil shock deepens the equity pullbackAI infrastructure spending concerns weighed on US tech, while oil rose on geopolitical supply worries in the October 22 session.
Read article ↗: Desk note - Oct 23: AI spending fears hit techThe October 21 US session advanced on tech earnings, while oil contracts diverged and modest gains spread across FX and crypto.
Read article ↗: Desk note - Oct 22: SpaceX earnings pull US stocks higherThe Dow led after earnings optimism; a flat Nasdaq and mixed assets kept the October 20 close from reading as a broad risk-on session.
Read article ↗: Desk note - Oct 21: earnings lift the Dow, not techThe October 19 US session lifted the Nasdaq, but a flat Dow and mixed cross-asset moves kept the rebound from looking broad.
Read article ↗: Desk note - Oct 20: AI rebound stays narrowThe October 16 US session brought a sharp Nasdaq decline and higher crude, while gold and the euro rose and crypto slipped.
Read article ↗: Desk note - Oct 17: tech-led losses meet a rising oil marketThe October 15 session lifted US shares unevenly as investors rotated away from AI-linked names; gold, oil, FX and crypto diverged.
Read article ↗: Desk note - Oct 16: Dow leads as tech rotation continuesUS shares fell after September inflation ran hotter than expected; the Nasdaq led losses while Brent rose and the euro and Bitcoin slipped.
Read article ↗: Desk note - Oct 15: hot inflation jolts US stocksUS stocks eased amid chip weakness and mixed bank earnings; crude diverged, gold slipped, and major FX and crypto pairs rose on October 13.
Read article ↗: Desk note - Oct 14: chips and bank results weighOil rose as ceasefire headlines pulled in opposite directions; US stocks split, the dollar firmed and major crypto fell on October 12.
Read article ↗: Desk note - Oct 13: oil settles higher amid ceasefire uncertaintyUS equities rose into the weekend as oil remained volatile; FX pairs split and major crypto assets gained over the UTC day.
Read article ↗: Desk note - Oct 10: stocks rebounded amid choppy oil tradingAI spending worries pressured US chip stocks while oil surged; EUR/USD edged up and Bitcoin fell in the 8 October session.
Read article ↗: Desk note - Oct 09: AI doubts hit chips; oil jumpsUS stocks retreated as Treasury yields reached a 2002 high; Brent, EUR/USD and Bitcoin also ended their named sessions lower.
Read article ↗: Desk note - Oct 08: Treasury yields weigh on US stocksThe October 6 US session set equity records on tech and profit optimism, while gold rose and crypto slipped across its UTC day.
Read article ↗: Desk note - Oct 7: records, but not a broad risk bidThe October 5 session lifted US equities on tech leadership, while oil, EUR/USD and Bitcoin moved lower across their named windows.
Read article ↗: Desk note - Oct 6: tech held up despite higher yieldsThe October 2 session lifted US equities and softened the dollar, while oil and Bitcoin finished lower in a mixed response to weak jobs data.
Read article ↗: Desk note - Oct 3: soft jobs split the cross-asset closeUS equity close for 2026-10-01: index performance and the implications for evaluating systematic equity exposure.
Read article ↗: US equities — 10-02: yield reversal steadies stocksUS equity close for 2026-09-30: index performance and the implications for evaluating systematic equity exposure.
Read article ↗: US equities — 10-01: yields erase inflation reliefUS equity close for 2026-09-29: index performance and the implications for evaluating systematic equity exposure.
Read article ↗: US equities — 09-30: yields pressure US equitiesUS equity close for 2026-09-28: index performance and the implications for evaluating systematic equity exposure.
Read article ↗: US equities — 09-29: Treasury yields reset the risk toneUS equity close for 2026-09-25: index performance and the implications for evaluating systematic equity exposure.
Read article ↗: US equities — 09-26: lower oil lifts stocksUS equity close for 2026-09-24: index performance and the implications for evaluating systematic equity exposure.
Read article ↗: US equities — 09-25: oil and yields keep stocks pinnedUS equity close for 2026-09-23: index performance and the implications for evaluating systematic equity exposure.
Read article ↗: US equities — 09-24: hot PMI lifts yields, pressures stocksUS equity close for 2026-09-22: index performance and the implications for evaluating systematic equity exposure.
Read article ↗: US equities — 09-23: sector split holds the index flatMonday, September 21: lower oil and Treasury yields supported an AI-led US equity rally while the dollar firmed and gold weakened.
Read article ↗: Desk note - Sep 22: oil relief lifts an AI-led rallyFriday, September 18: global rate hikes pushed Treasury yields to 5.00%, but tech, gold and Bitcoin still advanced.
Read article ↗: Desk note - Sep 19: rate shock splits the tapeUS equities rebounded on September 17 as oil and Treasury yields eased; gold futures also advanced.
Read article ↗: Desk note - Sep 18: oil relief lifts a broad reboundTuesday, September 15: an oil supply shock and a 5% Treasury yield pushed US stocks and Bitcoin lower before the Fed decision.
Read article ↗: Desk note - Sep 16: oil and yields squeeze riskFriday, September 11: oil retreated from its four-month high, helping US equities recover despite firm August inflation.
Read article ↗: Desk note - Sep 12: oil backs off, equities recoverThe September 10 session saw Brent settle at $107.63 as US equities and Bitcoin fell.
Read article ↗: US equities, Brent and Bitcoin — Sep 11: an oil shockThe September 9 session brought Brent above $100 and lower US equities and Bitcoin.
Read article ↗: US equities, Brent and Bitcoin — Sep 10: oil above $100The September 8 session paired higher Brent with lower US equities and Bitcoin.
Read article ↗: US equities, Brent and Bitcoin — Sep 9: oil anxiety weighsThe September 4 session across US equities, EUR/USD and Bitcoin, with explicit observation windows.
Read article ↗: Jobs, US equities, EUR/USD and Bitcoin — Sep 8Wednesday, September 2: US equities recovered on technology strength, while Iran-related supply risk kept Brent near $96 and the yen strengthened.
Read article ↗: Desk note - Sep 3: tech rebounds as oil holds its premiumTuesday, September 1: Iran strikes lifted Brent and Treasury yields, while US equities, EUR/USD and crypto fell.
Read article ↗: Desk note - Sep 2: oil and yields set the toneMonday, August 31: Strait of Hormuz fighting lifted Brent while US equities fell, leaving a fractured cross-asset session.
Read article ↗: Desk note - Sep 1: oil rises as stocks slipThursday, August 27: Nvidia's results lifted US technology, but most S&P 500 stocks fell as oil and the dollar also firmed.
Read article ↗: Desk note - Aug 28: AI earnings lift a narrow tapeWednesday, August 26: July core PCE kept inflation in focus as US stocks finished nearly unchanged and oil eased.
Read article ↗: Desk note - Aug 27: PCE holds the tape in placeTuesday, August 25: lower oil and Treasury yields lifted US equities, while gold and Bitcoin stayed firm amid broader uncertainty.
Read article ↗: Desk note - Aug 26: cheaper oil eases the tapeMonday, August 24: semiconductor selling pulled on US tech even as Treasury yields eased, while gold and Bitcoin held up.
Read article ↗: Desk note - Aug 25: chips sink as yields easeFriday, August 21: stocks rose despite higher Treasury yields, while dollar weakness supported gold, the euro and Bitcoin.
Read article ↗: Desk note - Aug 22: bonds stay loose, assets divergeThursday, August 20: rising oil and Treasury yields pulled equities lower, while the dollar recovered late and Bitcoin rose.
Read article ↗: Desk note - Aug 21: oil and yields undo bond reliefWednesday, August 19: Treasury's larger long-end buybacks lowered yields and the dollar, lifting stocks, gold and Bitcoin.
Read article ↗: Desk note - Aug 20: Treasury buybacks calm the long endMonday, August 17: firmer oil lifted Treasury yields and weighed on US stocks, while gold, EUR/USD and crypto advanced.
Read article ↗: Desk note - Aug 18: oil lift pulls yields higherFriday, August 14: weak retail sales raised growth concerns, while Brent's rebound lifted yields and left stocks and crypto lower.
Read article ↗: Desk note - Aug 15: weak sales meet an oil reboundThursday, August 13: softer producer inflation and lower oil eased yields and lifted US stocks, while gold and crypto withheld confirmation.
Read article ↗: Desk note - Aug 14: softer PPI lifts stocks, not all riskWednesday, August 12: cooler inflation lowered yields and lifted AI stocks and gold, but oil, FX and crypto did not confirm broad risk-on.
Read article ↗: Desk note - Aug 13: CPI relief, but risk stays splitTuesday, August 11: oil rose as Hormuz talks stalled, while stocks faded and other markets waited for the July CPI release.
Read article ↗: Desk note - Aug 12: oil churn and CPI wait cool riskMonday, August 10: a fresh oil spike over the Strait of Hormuz pushed yields and the dollar higher, left stocks slightly lower and kept gold bid.
Read article ↗: Desk note - Aug 11: Hormuz doubts lift oil, cool riskFriday, August 7: payrolls fell by 23,000, yields eased and US equities rose, while Brent and Bitcoin also finished higher.
Read article ↗: Desk note - Aug 08: weak payrolls lift riskThursday, August 6: Brent jumped 3.8% to $82.49 and the 10-year Treasury yield rose as Hormuz uncertainty checked equities near records.
Read article ↗: Desk note - 2026-08-07: oil risk checks the rallyWednesday, August 5 split the tape: the Dow rose while AI-spending scrutiny pulled the Nasdaq lower and oil stayed near $75/$79.
Read article ↗: Desk note - Aug 06: AI spending splits the tapeTuesday, August 4 saw earnings broaden US equity gains as oil cooled; FX and crypto offered less confirmation.
Read article ↗: Desk note - Aug 05: earnings broaden the rallyMonday's pause on new Iran strikes cut Brent and eased inflation anxiety, sending US equities close to records while crypto stayed less decisive.
Read article ↗: Desk note - Aug 04: Iran pause cuts oil, lifts riskFriday, July 31 rewarded Amazon's earnings proof but punished Apple's forward guide as oil and labour costs kept inflation risk visible.
Read article ↗: Desk note - Aug 01: earnings split the AI tradeThursday, July 30 brought an earnings-led AI rebound as Microsoft supplied proof of revenue behind the spending.
Read article ↗: Desk note - Jul 31: earnings restore the AI bidWednesday, July 29 combined renewed oil risk, a divided Fed hold and broad selling in US equities.
Read article ↗: Desk note - Jul 30: oil shock meets a divided FedTuesday, July 28 split the tape: falling oil and strong earnings lifted broad shares while the global chip unwind hit tech.
Read article ↗: Desk note - Jul 29: rotation hides a calm indexMonday, July 27 unwound part of the Iran oil premium, but chip weakness left US equities mixed and crypto's bounce faded.
Read article ↗: Desk note - Jul 28: oil relief meets chip stressFriday, July 24 brought partial relief from oil and yields, but another chip selloff kept the Nasdaq under pressure.
Read article ↗: Desk note - Jul 25: oil eases, tech stays weakThursday, July 23 was an oil-and-tech selloff: Brent cleared $100, yields rose and expensive growth stocks took the damage.
Read article ↗: Desk note - Jul 24: oil and AI spending hit riskWednesday, July 22 was an oil-led risk session: crude and yields rose while tech, the dollar and bitcoin softened.
Read article ↗: Desk note - Jul 23: oil sets the risk premiumTuesday, July 21 was a risk rebound led by chips, but oil above $90 and higher Treasury yields kept the tape uneven.
Read article ↗: Desk note - Jul 22: chips outrun oil and ratesMonday, July 20 was a stalled rebound: oil and yield pressure erased an early chip-led lift in U.S. equities.
Read article ↗: Desk note - Jul 21: oil risk stalls the reboundFriday, July 17 was driven by AI-chip selling and renewed oil risk: equities fell, crude jumped and the dollar stayed flat.
Read article ↗: Desk note - Jul 18: chip rout and oil risk hit tapeThursday, July 16 was a split risk session: resilient U.S. data lifted yields, but AI-chip selling pulled indices lower.
Read article ↗: Desk note - Jul 17: AI-chip unwind hits riskWednesday, July 15 was a mixed relief session: soft PPI and earnings lifted equities while oil kept the tape restrained.
Read article ↗: Desk note - Jul 16: cool PPI, earnings steady riskTuesday, July 14 was led by softer U.S. CPI: yields and the dollar fell, tech rebounded, while oil risk stayed live.
Read article ↗: Desk note - Jul 15: cool CPI steadies riskMonday, July 13 repriced energy inflation: oil jumped, yields rose, tech sold off, and crypto stayed mostly range-bound.
Read article ↗: Desk note - Jul 14: oil shock breaks chip bidFriday, July 10 was a quiet risk session: AI-chip demand lifted U.S. equities while oil and rates kept the tape restrained.
Read article ↗: Desk note - Jul 11: chip bid offsets oil-and-rate dragThursday, July 9 was driven by lower oil stress, easier yields and a semiconductor-led rebound in risk.
Read article ↗: Desk note - Jul 10: oil relief and chip bid lift riskWednesday, July 8 was driven by renewed Iran oil risk, higher yields and a split equity tape led by AI strength.
Read article ↗: Desk note - Jul 09: oil shock, split tape, Fed cautionTuesday, July 7 was driven by AI-stock weakness, a renewed Iran oil shock and a modestly firmer dollar.
Read article ↗: Desk note - Jul 08: AI selloff, oil shock, firmer dollarMonday, July 6 was led by a narrow AI-stock rebound while oil slipped on OPEC+ supply and the dollar firmed.
Read article ↗: Desk note - Jul 07: AI bid, oil drag, firmer dollarFriday, July 3 was a holiday-thin global session: U.S. cash was shut, Europe firmed, oil stayed calm and crypto bid.
Read article ↗: Desk note - Jul 04: holiday-thin tape, softer dollarThursday, July 2 was driven by a soft U.S. jobs report: the dollar fell, gold and crypto bounced, Dow led, tech lagged.
Read article ↗: Desk note - Jul 03: soft jobs split the tapeWednesday, July 1 brought softer ADP and ISM price signals, but chip weakness still pulled the Nasdaq lower while gold rose and oil fell.
Read article ↗: Desk note - Jul 02: softer U.S. data, incomplete reliefTuesday, June 30 closed well for U.S. equities, but higher yields kept the dollar firm, gold pinned, oil softer and crypto lagging.
Read article ↗: Desk note - Jul 01: quarter-end tech bid, firm dollar elsewhereMonday, June 29 was a relief bounce in beaten-up tech, but oil, FX and crypto did not confirm a clean all-clear across assets.
Read article ↗: Desk note - Jun 30: tech rebound, split tape elsewhereFriday, June 26 was another split tape: tech and semis stayed heavy even as yields eased, the dollar softened and gold bounced.
Read article ↗: Desk note - Jun 27: tech unwind masks softer-dollar reliefThursday, June 25 was a split tape: hot PCE cooled yields at the margin, but Apple-led tech weakness kept risk appetite uneven.
Read article ↗: Desk note - Jun 26: hot PCE, easier yields, split tapeWednesday, June 24 was a split tape: cheaper oil eased inflation pressure, but tech, the dollar and bitcoin still reflected a tighter regime.
Read article ↗: Desk note - Jun 25: oil relief, cooler yields, softer techTuesday, June 23 was a hawkish-dollar tech session: semis hit equities and crypto even as oil kept sliding on U.S.-Iran talks.
Read article ↗: Desk note - Jun 24: AI unwind outweighs cheaper oilMonday, June 22 was a split session: Iran oil relief knocked crude lower, but a firmer dollar and higher yields still weighed on gold and Big Tech.
Read article ↗: Desk note - Jun 23: oil relief meets a firmer dollarWith Friday's Juneteenth holiday removing U.S. cash trade, Thursday still read as a hawkish-Fed dollar session with only a narrow tech rebound.
Read article ↗: Desk note - Jun 22: narrow rebound, dollar still in chargeFriday's June 19 session was holiday-thin but clear: the Fed-driven dollar stayed firm, oil bounced, and gold and crypto stayed heavy.
Read article ↗: Desk note - Jun 20: strong dollar outlasts the holiday lullThursday's June 18 session was split: cheaper oil and easier yields lifted stocks, but the post-Fed dollar bid kept gold and crypto heavy.
Read article ↗: Desk note - Jun 19: oil relief lifts stocks, dollar stays firmWednesday's session turned on the Fed: rates stayed put, but a higher-inflation, hike-leaning message hit stocks, gold and the euro.
Read article ↗: Desk note - Jun 18: hawkish Fed resets riskTuesday's session kept unwinding the oil shock, but it was a split tape: the Dow hit another record while AI-heavy tech sold off into the Fed.
Read article ↗: Desk note - Jun 17: oil unwind meets tech wobbleMonday's session was a relief trade: a US-Iran framework deal hit oil, lifted equities and crypto, softened the dollar, and pulled gold higher too.
Read article ↗: Desk note - Jun 16: Iran truce relief resets oil and riskFriday's session centered on U.S.-Iran deal hopes: oil fell sharply, equities rallied, FX stayed mixed and crypto bounced only modestly.
Read article ↗: Desk note - Jun 12: Hormuz deal hopes knock oil lowerNo matching article. Try another search.