U.S. equities powered higher on the week while the bond complex generally remained within a consolidation range.
The S&P rebounded smartly above its 50-day moving average, repairing the technical damage done from the close below the average on June 18th. The move higher reduces concerns that recent price action was the beginning of a correction in equities.
The bond complex remains within a wide technical range. This suggests that market participants are not overly concerned with recent inflationary pressures. Economic data releases including inflationary information could easily affect volatility in both the bond and equity markets.
– Best
Cory Haupt
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