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23 July 2021
4 min read

Flash PMI's in focus, Covid caution in the air?

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Definitely some caution in the air at the moment.

On Wednesday, bonds were selling off and there was a clear preference for energy and financial stocks.

Yesterday, energy stocks didn't keep pace with the oil rally, and financials were the worst performers. The Russell 2K struggled (RUT closed down 1.55%) and bonds saw demand again, although this retreated into the close.

Sector ETF view of the session 👇

The picture in Asia is also a little downbeat this morning, as Chinese equities struggle (Japan closed)

05:49 BST

The Covid 'crisis' phase is over, but it's too soon to shake

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