sp'daily5
VIX'daily3
Summary
US equities opened higher, as s/t price momentum turned positive. The gains were shaky though, with some weak chop into late morning. The afternoon saw moderate weakness, not helped with news of the Iranians seizing a UK tanker in the Gulf.
Volatility picked up a little, with the VIX settling +6.8% at 14.45.
Meanwhile...
... the US President continues to take little swipes at the Fed. It will be interesting to see how Trump reacts to rate cut'1 of -25bps this July 31st. Its difficult to ascertain whether he'll say 'its a start' or 'not enough!'. In any case... it should be clear, the world's central bankers are all capitulating to political pressure. If you think thats a good idea, I have some $NFLX Jan'2020 $400 calls I could write to you.
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Goodnight from London
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