Market Commentary - June 29th, 2022


Strategy at Repool, ex-Goldman Sachs Trader, Wharton MBA

Posted on
Read time
2 minutes

Morning Commentary - June 29th, 2022

Morning Commentary (June 29th, 2022): A lackluster close yesterday after worse than expected consumer confidence data (Consumer Confidence Index: Actual 98.7 | Median 100 | Previous 103.2) caused major indices to erase morning gains. Persistent inflationary fears drove more pessimistic short-term expectations about the labor market, earnings potential, and business conditions at large.

Without an obvious positive catalyst in sight, it feels as though we’ll continue to tread water, albeit range bound to the local lows. At a press conference yesterday, Richmond Fed President Tom Barkin, commented that more aggressive rate hikes were reasonable–in line with Powell’s latest remarks.

Equities / Overnight

This morning, an anemic start with domestic futures oscillating either side of flat. Overseas, the vast majority of equity markets are lower on the day (FTSE +0.01%, DAX -1.30%, HSI -1.88%, SSE -1.40%). Poor sentiment from the overnight US session leaked into Europe, despite better than expected inflation data from Germany.


In the USTs, a small bull flattening to start, led by a modest rally in the long end (UST 2Y flat, 5Y -3.3bp, 10Y -3.5bp, 30Y -2.3bp). Unsurprising post Fed commentary, front-end rates will continue to lag in the hiking environment.


A busier couple of days for the crude community, we have EIA data this afternoon and OPEC meetings over the next two days.  Ahead of the newsflow, front-end energy futures are experiencing a little morning pop (WTI +1.38%, Brent +1.43%).

Economic Calendar

An active day for the Federal Reserve, with Powell, Bullard, and Cleveland Fed President Mester all engaged in speaking events.

The main focus for this week will be on Thursday’s inflation and consumer data, with PCE, jobless claims, PMI, and consumer spending set to report in the morning.

Looking for modern launch or backoffice solutions?


Repool, Inc. (“Repool”) serves as an administrator to various pooled investment vehicles.  The content on this site, or any associated distribution platforms and public Repool online social media accounts, platforms, and site (collectively, “Distribution Channels”), is provided for information and discussion purposes only, and should not be construed as or relied upon in any manner as legal, business, tax, investment, or other advice. Repool’s services and information available on Distribution Channels are not a substitute for third-party professionals (including properly licensed and/or registered lawyers, brokers and tax professionals), and you should seek your own professional advisers, including legal counsel. Repool is not licensed to provide legal advice and is not registered as a broker-dealer or investment adviser, and Repool is not otherwise licensed or registered.

Any views expressed in posted content, such as articles, blogposts, commentary, videos, or social media, are those of individual Repool personnel or third-party authors and are not the views of Repool or our affiliates, unless explicitly stated otherwise. Additionally, with respect to any content or views available on Distribution Channels, Repool makes no representations that the information has been validated by independent, licensed third-parties, nor that such information has any enduring accuracy or appropriateness for any given individual or situation.

Laws and regulations applicable to the sale of securities, forming pooled investment vehicles (including private funds), and investment management (including serving as an investment adviser or commodity trading advisor) are complicated and occasionally ambiguous. Relevant law may come from the state, federal, or international level, and you may be under the regulatory oversight of one or many regulatory bodies such as, but not limited to, the Securities and Exchange Commission and the Commodity Futures Trading Commission. It is your responsibility to ensure that, when forming, offering interests of and managing any pooled investment vehicle, whether supported by Repool’s administrative services or not, you are in material compliance with applicable laws including obtaining any and all applicable licenses, permits, registrations, memberships, and approvals that are required in order to form, offer securities of and manage such pooled investment vehicle.  You should not rely upon Repool in making any such determinations or as a replacement for licensed, third-party professionals.

Building the future of fund services

© 2024. Repool, Inc.