🔺Risk Assets Rise, Cyclicals Bid On Tuesday Session: Cable FX Macro
- Rosbel Durán
- 1 minute ago
- 1 min read
**As seen in Online Tools > Chart Grid, get access now! cablefxm.co.uk
Bids on risk assets have sent the S&P 500 Index closer to 6,000, quite a round trip from sub 5,000 levels seen in April. On Tuesday, market sources noted cyclicals stocks are being bought while defensives are offered. The China weekend headlines were followed by short dollar trades rotating into consumer staples.
Today's main event was the U.S. CPI release, sources saw buying in fixed income heading into the figure, fast money names were active in SOFR and TY. Downside interest was seen in Treasuries.
Market sources indicated the SOFR futures space turning hawkish on the Fed, desks built downside interest on the December 2025 contract. This is indicative of traders expecting the Fed to be hawkish this year.
