With NFP tomorrow, the sentiment this week has been overwhelming FOMO trying to speculate on an appetite where return meets risk. I think that the non-farm payroll print tomorrow could be the catalyst to some pretty clear cut connection. Looking at the SPX, we can see a broad base for risk-appetite. The performance looking at the Dow; you can't see this same enthusiasm for the first two trading days this week; which follow a very scary Friday. Looking at the rest of world equities; a mild risk-on. Looking at junk bonds, carry trade, etc, there wasn't a clear example of what market analyst call "risk-on" for the month of June. Risk appetite trends are most indicative of when taking into account a strong correlation and intensity of a move and thus--follow through. When the indicices aren't moving in concert and with some correlated momentum,it's usually not a reflection of risk trends that are reliably momentum based. which has been seen for most pairs for the month of June.
Instead, for the last 1.5 months we've seen concentrated performance in specific assets and regions of currency classes. Look at the Nasdaq 100 for example. The NASDAQ 100 managed not only to extend it rally of a three day run, but closed with an inch and a record high you can also look at this as a factor of the NASDAQ 100s performers in comparison to the S&P 500 which is essentially a ratio of tech base shares out of the US equities is that a record high itself.
Instead, for the last 1.5 months we've seen concentrated performance in specific assets and regions of currency classes. Look at the Nasdaq 100 for example. The NASDAQ 100 managed not only to extend it rally of a three day run, but closed with an inch and a record high you can also look at this as a factor of the NASDAQ 100s performers in comparison to the S&P 500 which is essentially a ratio of tech base shares out of the US equities is that a record high itself.
