20 November 2025 – 08:38 Central Euro Time

The Euro is at present below its Neutral Zone for today, whilst above same is the Spoo; session volatility for the BEGOS Markets is moderate. Going ’round the Market Values’ horn for the five primary BEGOS components, we’ve (in real-time) the Bond as -1^08 points “low” vis-à-vis its smooth valuation line, the Euro as -0.009 points “low”, Gold as just -15 points “low”, Oil as only -0.37 points “low” and the Spoo as a scant -11 points low; however with respect to the latter, the “live” (futs-adj’d) P/E of the S&P 500 is 54.3x and the yield 1.171% vs. 3.772% annualized for the 3-month U.S. T-Bill. As to the Econ Baro, the BLS has announced there shan’t be a Payrolls report for October; however, that for September is to be released today, as is November’s Philly Fed Index, plus October’s Existing Home sales and Leading (i.e. “lagging”) Indicators.