The View from 5th Avenue

The View from 5th Avenue – 5 October 2022

Initially, today felt like a bit of a reign tugger --- a pause from the prior 2 sessions of broad based gains. US markets slid lower in early trading, with DXY strength back in play (though well off of the LT resistance at 120), while other risk indicators such as bitcoin were under pressure. The dovish "hope bubble" was seemingly popped by the economic data, which showed better than estimated growth and companies hiring at a solid clip.

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