News

Clients of the bank sold stocks in 9 out of the 11 S&P 500 sectors last week, with technology and financial sectors being the most affected. Citing client data for the week ending June 26, Hall noted that the four-week average net capital inflow into the technology sector has dropped to a historic low. The consumer staples sector has recorded net outflows for seven consecutive weeks, marking the longest duration on record. Read more

The yield on the 2-year UK government bond fell by 2.6 basis points to 4.126%, opening higher but trending lower throughout the day. The yield on the 30-year UK government bond rose by 1.4 basis points to 5.487%, remaining in an upward trend for the entire day; the yield on the 50-year UK government bond increased by 1.3 basis points to 5.092%. The yield spread between the 2-year and 10-year UK government bonds widened by 2.632 basis points to +62.968 basis points, surging significantly at the open and then trading in a narrow range at high levels for most of the session.

BlockBeats News, July 2nd, institutional analyst Andrew Sacher stated that after Fed Chair Powell made his debut at the June FOMC meeting, the market is still debating his stance—is he a hawk or a dove? Due to internal FOMC disagreements on whether the next step is to raise interest rates or keep them unchanged, Powell's position is particularly important. The Sintra conference will provide a new opportunity to reassess his stance. Sacher believes that Powell is first and foremost a politician, and his remarks at the FOMC meeting are balanced for both sides—we expect a similar strategy to be taken at Sintra. As he focuses on price stability, his comments may lean hawkish, aiming to appease a significant portion of the committee who want the Fed to demonstrate its independence from Trump by raising interest rates. Powell's actions so far—such as setting up five working groups to review key Fed issues—have bought time for the next steps.