Market Notebook

by Cory Haupt | Jul 21, 2025

PRICE ACTION:
Equity prices, as measured by the ticker SPY, and bond prices, as measured by the ticker BND, closed marginally higher over the last week.

SPY +0.64%
BND +0.07%

TECHNICAL ANALYSIS:
SPY price appears to be trending higher.

BND price appears to be consolidating within a wide price range; however, price is now approaching the range highs. A break higher could signal positive price momentum.

SENTIMENT:
U.S. trade policy remains a significant factor in driving price volatility.

ECONOMY AND FUNDAMENTALS:
Economic fundamentals remain positive, with data suggesting the U.S. economy remains resilient in the face of geopolitical and trade-related turbulence.

All the best during the week ahead!

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Disclaimer: Nothing in this discussion should be considered investment advice. The content of this discussion is strictly my personal opinion and subject to change at a moment’s notice. Investment advice can only be provided to you by your investment professional and not by a general market discussion such as this one. If you wish to speak with an investment advisor, contact us. We can probably help.

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