Since bond legend Bill Gross left the company in 2014, the actively managed bond fund house has seen a big reversal in fortune. After a torrent of cash outflows when his departure was first announced, today we hear that it has managed to attract $50 billion in new money over the first six months of this year. The Financial Times ascribes this to a growing demand by savers for fixed income products, and especially the ones run by star manager Dan Ivascyn.
The Russia versus USA spat intensified another notch over the weekend after Congress announced new sanctions against the former. President Putin retaliated by ordering 755 US government personnel to leave his country, about two thirds of total US staff posted there.
DAX 30
No longer overbought on the weekly chart.
SHORT TERM TRADER: Small short at 12225; stop above 12355. Target 11550.
POSITION TAKER: New short at 12175; stop above 12400. Target 11500.
FTSE 100
MACD bearish for many weeks now as prices hold below the trend line.
SHORT TERM TRADER: Short at 7394; stop above 7520. First target 7300.
POSITION TAKER: Square.
S&P 500
Still terribly overbought as prices hover at record highs.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
BRITISH POUND/US DOLLAR
Strongest weekly close in a long time as sterling makes small gains.
SHORT TERM TRADER: Square.
POSITION TAKER: Small long at 1.3090; stop below 1.2950. Target 1.340
EURO/US DOLLAR
Strongest weekly close since the first week of 2015.
SHORT TERM TRADER: New long at 1.1740; stop well below 1.1600. Target 1.2150.
POSITION TAKER: Square.
GOLD
Might top again ahead of trend line resistance though momentum is bullish.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
