Don't Get Carried Away

Caution... selling pressure hasn't been this high in three years, and now they'll try to suck everyone back into this market.

Market outlook:

• Futures Mixed: S&P +48bps, Nasdaq +68bps, Russell +91bps

• We start the week with the 10-Year Treasury yield at 4.25% after falling 32 basis-points in February

• Gold finds buyers at $2,887 after last week's 2.7% decline from profit-taking

• WTI edges back to $70 as stronger China PMI data offsets geopolitical tensions and tariff concerns

• Bitcoin jumps 9% to $94,000 after Trump announces strategic reserve, also mentioning ETH, XRP, SOL, and ADA

• China pumps $190B into banking system in February via outright repos; Chinese 10-Year hits the highest point since December

• China's manufacturing expands at the fastest pace in three months; manufacturing employment slumps to a near 5-year low

• Copper futures (HG) in the US are trading at a $600/tonne premium over London prices as importers race to secure supply; Comex warehouse stocks reached the highest level since 2019

• Intel (INTC) shares rally as Nvidia (NVDA) and Broadcom (AVGO) reportedly test manufacturing process; potential deal could b…