Euclid Investment Advisory Blog

Review & Analysis at Close June 27, 2022

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Equities

US Equities: For the 5-day period ending June 27, all major US equity indices rose 6.0% to 6.8% while the VIX declined 13% to 26.95.

For the same period, China rose 6.8%, Europe +3.45%. The 2-10 year US Treasury Yield curve long-term trend remains flattening; spread widened slightly to 0.12 from 0.10.

For the five-day period, all sectors rose 1.4% (Energy) to 8.62% (Health Care). Nevertheless, only Energy is in a strategic Bullish trend, all the others are Bearish.

 

Bonds

The 10-year US Treasury yield fell to 3.194%, down from recent peak of 3.483%. The 2 year. US Treasury yield fell to 3.08% down from recent peak 3.45%. Yields may have peaked near-term.

 

Currencies
Currencies vs. US Dollar: The Australian Dollar, the Euro, the British Pound, and the Japanese Yen remain in long-term Bearish trends vs. the US Dollar. The Bullish US Dollar slipped to 103.88 from
recent peak of 105.56.

Metals and Commodities
Base metals funds (Cu, Al, Zn) turned Bearish May 2, copper turned April 25th. These moves signal a slowing economy.


After last week's much needed gains virtually all of the 31 indices we track are showing short-term up-trends while remaining in strategic Bearish downtrends.

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