Fixed Income and Currency Strategist

Gautam Jain, PhD, CFA

FX & Rates

With the US rates curve continuing to steepen, we address what it means for EM. To summarize, we expect differentiation among EM with some curves following the US, while others not.The attached file is a snapshot of EM 10y rates market, which we produce daily, and where we seek to identify the leaders and laggards among countries by comparing the performance of each to its history as well as to other countries based on their respective betas to the broad market.

With the US rates curve continuing to steepen, we address what it means for EM. To summarize, we expect differentiation among EM with some curves following the US, while others not.The attached file is a snapshot of EM 10y rates market, which we produce daily, and where we seek to identify the leaders and laggards among countries by comparing the performance of each to its history as well as to other countries based on their respective betas to the broad market.

Rates 10y Dashboard: Is the Correlation of EM with US Curve Steepening Re-Emerging?

We assess the risks to US and EM rates along with broad financial markets going into the FOMC meeting by looking at rates volatility.The attached file is a snapshot of EM 10y rates market, which we produce daily, and where we seek to identify the leaders and laggards among countries by comparing the performance of each to its history as well as to other countries based on their respective betas to the broad market.

We assess the risks to US and EM rates along with broad financial markets going into the FOMC meeting by looking at rates volatility.The attached file is a snapshot of EM 10y rates market, which we produce daily, and where we seek to identify the leaders and laggards among countries by comparing the performance of each to its history as well as to other countries based on their respective betas to the broad market.

Rates 10y Dashboard: Rates Volatility Going into FOMC Meeting

In this note, we discuss the low volatility and correlation of China's rates with the sell-off in US Treasuries.The attached file is a snapshot of EM 10y rates market, which we produce daily, and where we seek to identify the leaders and laggards among countries by comparing the performance of each to its history as well as to other countries based on their respective betas to the broad market.

In this note, we discuss the low volatility and correlation of China's rates with the sell-off in US Treasuries.The attached file is a snapshot of EM 10y rates market, which we produce daily, and where we seek to identify the leaders and laggards among countries by comparing the performance of each to its history as well as to other countries based on their respective betas to the broad market.

Rates 10y Dashboard: Limited Impact on China’s Rates of US Sell-Off

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

The S&amp;P 500, Nasdaq 100 (QQQ), and Russell 2000 (IWM) have all rallied to logical resistance; if they are able to break above and stay above their respective resistance levels it would signal the end of the current consolidation phase. In today’s report we highlight attractive Groups and stocks within Materials and Financials:

The S&amp;P 500, Nasdaq 100 (QQQ), and Russell 2000 (IWM) have all rallied to logical resistance; if they are able to break above and stay above their respective resistance levels it would signal the end of the current consolidation phase. In today’s report we highlight attractive Groups and stocks within Materials and Financials:

U.S. Equity Strategy: Testing Key Resistance; Downgrading Health Care

As long as market dynamics remain largely positive and the MSCI ACWI (ACWI-US), ACWI ex-US (ACWX-US), and EM (EEM-US) indexes are above their respective intermediate-term support levels we believe a constructive outlook is warranted. To reiterate, support levels to watch include $90 on ACWI-US, $53 on ACWX-US, and $52 on EEM-US. Open the attached file to read our complete International Strategy document, and to find links to detailed comments and recommendations for each of our 12 Sectors.

As long as market dynamics remain largely positive and the MSCI ACWI (ACWI-US), ACWI ex-US (ACWX-US), and EM (EEM-US) indexes are above their respective intermediate-term support levels we believe a constructive outlook is warranted. To reiterate, support levels to watch include $90 on ACWI-US, $53 on ACWX-US, and $52 on EEM-US. Open the attached file to read our complete International Strategy document, and to find links to detailed comments and recommendations for each of our 12 Sectors.

Global Equity Strategy: Constructive Pullback; Overweight Value

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US Treasury (10 Yr Generic) (GT10 GOVT)

Rates 10y Dashboard: Is the Correlation of EM with US Curve Steepening Re-Emerging?

With the US rates curve continuing to steepen, we address what it means for EM. To summarize, we expect differentiation among EM with some curves...

Gautam Jain, PhD, CFA

Rates 10y Dashboard: Rates Volatility Going into FOMC Meeting

We assess the risks to US and EM rates along with broad financial markets going into the FOMC meeting by looking at rates volatility.

Gautam Jain, PhD, CFA

Rates 10y Dashboard: Limited Impact on China’s Rates of US Sell-Off

In this note, we discuss the low volatility and correlation of China's rates with US Treasuries. Attached is our daily Rates 10y Dashboard that...

Gautam Jain, PhD, CFA

U.S. Equity Strategy: Testing Key Resistance; Downgrading Health Care

The S&P 500, Nasdaq 100 (QQQ), and Russell 2000 (IWM) have all rallied to logical resistance; a break above their respective resistance levels...

Vermilion Research

Global Equity Strategy: Constructive Pullback; Overweight Value

As long as the MSCI ACWI (ACWI-US), ACWI ex-US (ACWX-US), and EM (EEM-US) indexes are above their respective intermediate-term support levels we...

Vermilion Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)