Markets to Watch This Week: Apple, Euro (Again) and European Yields
- By Bilal Hafeez
- 1 min read
In this report, we standardise price changes across different markets to allow for cross-market comparisons.
Extreme jumps:
• US tech stocks took the centre stage over the past week with the Apply stock price jumping by over 2 standard deviations. NVIDIA, Amazon and Tesla experienced 1+ standard deviation jumps.
This article is only available to Macro Hive subscribers. Sign-up to receive world-class macro analysis with a daily curated newsletter, podcast, original content from award-winning researchers, cross market strategy, equity insights, trade ideas, crypto flow frameworks, academic paper summaries, explanation and analysis of market-moving events, community investor chat room, and more.
In this report, we standardise price changes across different markets to allow for cross-market comparisons.
Extreme jumps:
- US tech stocks took the centre stage over the past week with the Apply stock price jumping by over 2 standard deviations. NVIDIA, Amazon and Tesla experienced 1+ standard deviation jumps.
- Outside of equities, New Zealand 2y yields jumped by 1.6 standard deviations, and natural gas prices rose by 1.3 standard deviations.
Extreme declines:
- At the other end of the spectrum, both EUR/USD and Norwegian yields tumbled by 1.8 standard deviations. German and Swiss 10y yields fell by around 1.5 standard deviations. The South African rand (ZAR) and Brazilian real (BRL) also saw 1+ standard deviation declines.
- In equities, JP Morgan shares fell by 1.2 standard deviations
- Despite large declines in crypto markets, bitcoin and ethereum price drops have so far been less than one standard deviation.
Given the above, we would watch US large tech stocks, the euro and European yields.
Bilal Hafeez is the CEO and Editor of Macro Hive. He spent over twenty years doing research at big banks – JPMorgan, Deutsche Bank, and Nomura, where he had various “Global Head” roles and did FX, rates and cross-markets research.