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First Call August 11, 2020
- S&P futures up 0.5% off earlier highs. US equities finished mostly higher on Monday with value extending its recent outperformance vs growth with reopening plays faring particularly well.
- Asian markets mostly overnight with Hong Kong, Japan, and South Korea among the standouts while China underperformed, falling more than 1%.
- European markets seeing big gains.
- Treasuries weaker across the curve (I might be changing my bias on Bonds today to negative as yields could continue higher).
- Dollar firmer vs the yen but weaker on the euro cross.
- Gold down 2.5% and back under $2,000/oz and Silver is down 4.5%.
- WTI crude up 1.8%.