30 August 2023 – 09:07 Central Euro Time

The Bond, Silver and Copper are all at present below their respective Neutral Zones for today; none of the other BEGOS Markets are above same, and volatility is again light. Late in yesterday’s session, the cac volume for the Bond rolled from September into December, as is the like case today for Silver. The S&P 500 yesterday unwound a technically “textbook oversold” condition that had been in place through the prior 10 sessions; of course fundamentally with the “live” P/E at 43.2x, the Index remains in an extremely overbought state, especially given the higher risk-free interest rate environment. The Econ Baro looks to August’s ADP Employment data, July’s Pending Home Sales, and the first revision to Q2’s GDP.