Wall Street traders drove the market lower amid a selloff in technology stocks that have driven the rally following April's crisis. This despite inflation data that did little to alter bets on rate cuts by the Federal Reserve....

The S&P500 touched 6,500pts for the first time in history after a slightly positive close of U.S. indices, in a session of gains in major global assets. In fixed income, treasuries had a bull flattener, with long bonds rising (-5bps) and shorts flat...

Wall Street traders pushed stocks higher ahead of results from Nvidia Corp. - the latest of the "Magnificent Seven" mega-caps to report. With earnings from the world's most valuable company coming soon, the S&P 500 rose as Nvidia recovered from session lows....

Trump said he will fire Fed Governor Lisa Cook over document forgery, which is expected to be a major legal war given the lack of precedent for firing a Fed governor; however, short treasuries rose (yields -5bps) and longs were unchanged. In equities...

The treasury curve gave back some of Friday's advance, rising 3-4bps in yields, along with a 5-8bps rise in Europe. Equities rose in Asia, but fell in the US and Europe on a day of low volume. On the commodities side, energy rose 1.5%, while metals and agriculture fell slightly...

Powell was accommodative in his remarks at Jackson Hole, opening the possibility of a 25bps cut in September that sent the market into euphoria, leading to a nearly 2% rally in equities and an advance across the treasury curve, particularly short bonds that fell 10bps in yields (-4bps for longs)...

With the market awaiting Powell in Jackson Hole tomorrow, we saw a further rate hike globally, which on the Treasury curve was 3-4bps and a relevant move in rate futures, which assume a 72% probability of the 25bps cut at the September meeting and 90% of a second cut....

Stocks recover from session lows after a drop in tech during the week, in the latest sign of feverish trading on Wall Street ahead of Jerome Powell's Jackson Hole speech. After a plunge that saw stocks lose billions of dollars, the...