Good morning contrarians! Welcome to the Daily Contrarian, our morning look at events likely to move markets. It is Tuesday, April 15. Happy Tax Day to readers reporting US income.
State of Play
Stocks rallied yesterday for the second straight day. As we eye our board of indicators for signs of direction at 0650, things are quiet. So quiet, they look like a normal trading day for the first time this month:
Stock index futures are flat as a board with no major US index moving more than 0.2% from the break-even point;
Commodities aren’t moving either. WTI crude oil is down 0.3% to trade around $61/barrel. Copper is unchanged;
Cryptos aren’t doing much either, with Bitcoin up 1% to trade around $85,500;
Bonds also quiet. The 10-year yields 4.39%.
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