Reply To: Traders Market Weekly: Market Dysfunction with Inflation and Supply Fragilities


S&P futures vs fair value: +22.00. Nasdaq futures vs fair value: +69.50.
The S&P 500 futures trade 22 points, or 0.5%, above fair value.

Equity indices in the Asia-Pacific region ended the midweek session on a mixed note. The People’s Bank of China made no changes to its one-year and five-year loan prime rates despite expectations for cuts. A former PBoC official called for a temporary easing of curbs on property debt. The Bank of Japan offered to buy unlimited amounts of 5- and 10-yr JGBs after the country’s 10-yr yield climbed above 0.25% to a level not seen since early 2016. Australia’s Finance Ministry now expects that 2022 deficit will be about 3.0% of GDP, up from October’s projection of 2.3% of GDP.