Read on the Trading Floor - 24 June 2024
Today’s focus… slow start to a slow week....
Dear Harkster Subscriber
As you will have seen, through some of our recent publications, we are building out our new product, HarksterAI. We believe that this is an exciting new chapter for Harkster and we will be sharing more details with you in the coming months.
On that basis, we wish to announce that, as of 30 June, the Harkster Newsletter publications; TMH, Morning Call Script, Read on the Trading Floor and Saturday Hark Back, will cease to be published. The time spent writing and researching for the newsletters will be redirected towards building out and supporting HarksterAI.
Where relevant, refunds will be issued for any subscriber payments made for the period after 30 June. In addition, as of that date, the Harkster Research Inbox website will be decommissioned.
The first iteration of the HarksterAI offering is scheduled for late July. If anyone would like to hear more about this offering, and join the early adopter program, please email Hello@Harkster.com.
At this time we, at Harkster, would like to thank you all for your support over the last few months and years. We hope that you have found the newsletters to be entertaining and a useful tool in your daily market’s routine. We’d finally like to wish you, the Harkster Subscribers, all the best for the future.
Macro Themes At Play
Theme 1 - Summer Solstice
Theme 2 - Bitcoin! Nvidia!
What else is being read on Harkster?
Theme 1 - Summer Solstice
Slow start to a potentially slow week. How many times will we read in the coming days that the Fed's favourite indicator is due to be released on Friday!!! An empty calendar today, kicks off a pretty empty week with the PCE deflator in the US expected to sit at 0% MoM and 2.6% YoY.
USD was stronger in the Asian session, but since then it has softened led by USDJPY's drop off 160.00. US stocks are mixed and we're really just bouncing around clearly defined ranges, waiting for a new narrative to drop. The fear is we could be waiting all summer.... The first presidential debate between Joe Biden and Donald Trump on Thursday will also be in the spotlight.
FX Poetry - Will They Return?
Bloomberg - Fed’s Key Inflation Gauges May Offer Path to Rate Cuts
Steno Research - TIME TO BET AGAINST THE USD?
ZeroHedge - Futures Flat As Nvidia Slides For Third Day
Theme 2 - Bitcoin! Nvidia!
BTC tickling $60k for the first time in a month, the ETH ETF has come and gone with the markets attention now turning to the imminent supply of Mt. Gox repayments. Furthermore, Nvidia has dropped 3 days in a row!!!!!! Carnage on FinTwit as these assets only go up... right?
ZeroHedge - Bitcoin Crashes Below $61,000 Ahead Of Imminent Mt.Gox Repayments
Axios - Meme coins are having a moment
Lonodn Crypto Club - Stack Sats and Chill
Unchained - Biden vs. Trump, LayerZero, Celeb Coins and VC Coins, and More!
Ecoinometrics - Bitcoin is losing ground
Source: Tradingeconomics.com
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Top Pieces
Discovered on Harkster.com
Blind Squirrel Macro - Red Markets in Red Wine
Steno Research - WHAT TO MAKE OF THE RISING BANKRUPTCIES?
Nautilus Research - Industrial Metal Nickel Entering Bear Market
Econostream - ECB’s Nagel: Digital Euro Fit for an Era of Geopolitical Tensions
UBS - Paul Donovan Daily Audio 'Politics, sadly, is in focus'
Axios - Workers are tuning out Zoom as number of meetings grows
NY Fed - Deciphering the Disinflation Process
FT - Big business tries a dangerous dalliance with populist protectionists
Stay informed throughout the day with our new commentary channel (‘Intraday Market Colour’) highlighting key notes, topics du jour, and HarksterHQ’s market updates around key data points and headlines.
Available on the Harkster Research Platform.
The information provided in this post is for general information purposes only. No information, materials, services, and other content provided in this post constitute solicitation, recommendation, endorsement or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.
Tx Salisbury
Where relevant, refunds will be issued for any subscriber payments made for the period after 30 June.
Will miss these Darren but best of luck on the HarksterAI adventure! 🐿️