Maybe Not Straight Up After All

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Market On Open, Monday 13 April

by Alex King, CEO, Cestrian Capital Research, Inc.

As you may have noticed, Iran headlines tend to impact prices short term. The failure of ceasefire talks over the weekend spooked crypto a little bit Sunday and had futures a little nervous in the overnight session. So far in early trading Monday, yields are down and equities are holding up just fine, as is crypto. Nothing more to say than that, really; all one can do is get a fix on where price and volume is today and then see how it navigates the war. Thus far oil isn’t up as much as it “should” be, given the coming supply shock, and bonds and equities aren’t down as much as they “should” be, given the coming inflation shock. All of which tells me that there is likely QE afoot under the surface.

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Alright. Let’s take a look at markets at the open.