Notes from the Trading Desk

Notes from the Trading Desk is our bi-monthly commentary that discusses current news and market observations.

June 26, 2023

Stocks were under pressure last week as the major U.S. equity indices gave back some of their recent gains. The S&P 500 broke a five-week winning streak, while the Nasdaq fell after eight straight weeks of gains.

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May 29, 2023

Large cap growth and tech’s outperformance of the broader market continued once more last week. According to FactSet, the NYSE FANG Index was up more than 5.5%. As tech outperformed, the Nasdaq gained more than 2.5% last week.

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May 14, 2023

Since our last Notes from the Trading Desk, the market has essentially gone nowhere. The S&P 500 has been range bound and flat, the Nasdaq has risen slightly, while the small cap focused Russell 2000 has dropped a smidge.

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March 27, 2023

Though volatility has remained quite elevated, equity markets have moved higher over the last two weeks. This welcomed positive performance came despite very little easing in terms of headwinds coupled with an especially volatile Treasury market.

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March 14, 2023

Normally we start Notes by discussing the market movements of the past few weeks. This week, we are going to change that up just a bit. Instead, we are going to talk about the 800-pound gorilla in the room – banks. In the past week, the 128th, 16th, and then the 29th largest banks (according to the Federal Reserve’s year end list of commercial bank assets) have all shuttered their doors.

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