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First Call July 20, 2021
- S&P futures up 0.4% after US equities came under pressure on Monday with the S&P falling the most since May and the Dow down the most since October.
- Asian equities weaker overnight with Hong Kong a laggard again, down over 1%.
- European markets are slightly higher after losing 2% yesterday
- Treasuries narrowly mixed with some curve steepening following a big Monday rally that saw 10-year yields fall below 1.20% to levels not seen February, ending below the 200-day moving average for the first time since November.
- Dollar a bit firmer vs yen and euro.
- Gold up 0.5%.
- WTI crude up 0.2% after losing more than 7% in the prior session.
- Equity and crude bullish sentiment continues lower while bond bullish sentiment is at extreme peak levels at 91%
- A lot of new Erlanger ETS momentum sell signals.