MBCC TH 27th February'23 - "Do or die, back to the level where it broke out, do we go back up or break lower? 2Y US Bonds yielding ~ 5% - TINA does not exist!"

The market got very excited and brought out the bull as we broke out > 4000 towards 4200 in February, narratives changed to suit the move getting even more bulls sucked in who missed the rally from October lows, only to reverse last week as the market moved down 5% back to 3950. Those looking just at charts, as they are used to since 2020, got uber bullish before last week, only to cut their longs at the end of last week.

Forget the technicals, what is really driving these markets? The technical/fomo/algo flow is only distorting the REAL picture, there are much bigger things happening in cross asset macro markets.

We list all the pricing discrepancies in Commodities, Credit, Stocks and sector calls based on physical flows below and tell you what trades stand out here.