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A new week, a new month. But the same old themes from last week are carrying over to today. Major currencies are little changed so far but expect things to pick up during the week, as we look towards another non-farm payrolls release on Friday.
US equities put up a good showing at the end of last week and have largely braved past earnings season without a hitch.
But there are bigger challenges awaiting with negotiations on additional US stimulus still stuck, Treasuries starting to come back alive, and we're moving closer to election day in the US - three months from today so expect election uncertainty to be a factor.
Not to mention the escalating coronavirus situation and renewed virus fears in most parts of the world. That will pose a potential setback to hopes of a swift global recovery.
Elsewhere, precious metals are still doing their thing with gold sitting just under $2,000 for now. Stretched momentum remains a factor to consider but real yields continuing to slide further is still making for a compelling case to stay long.
But surely dip-buying would still be the way to go to build on exposure in the long-term.
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