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it was the US who saw the rally – Rabobank

Analysts at Rabobank noted the incredible bounce on Wall Street from overnight that came out of nowhere.

Key Quotes:

“Late in the  day  we got one of those inexplicable “I’ve been selling all day so now let’s rush to buy” moments, which obviously has nothing at all to do with algorithms and short squeezes, or trying to get major indices back up to their 200-day moving average, honest.”

“That’s despite the Wall Street Journal saying “US Manufacturers See Signs of New Risks”, underlining the stronger USD, rising costs due to the tariffs, and slower growth in China. Nonetheless, this still saw Treasury yields round-trip in the opposite direction to equities.”

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