Morning Briefing

Global markets are in 'risk-off' mode as Tech stocks weaken and G10 rate expectations shift higher following strong employment data. Focus is on today's US CPI release, where upside surprises are historically common in January.

Key Takeaways

• 1.Global interest rate expectations are being repriced toward higher-for-longer as G10 central bank hawks are vindicated by persistent labor and inflation data.
• 2.The Nasdaq 100 shows signs of a potential double top formation, signaling that the correction in Tech stocks may have further to run.
• 3.USD/JPY is facing downward pressure toward 150 as the Yen carry trade reverses following the LDP election victory and potential BoJ repatriation.

Table of Contents

• OVERNIGHT NEWS
• CALENDAR
• MARKET REVIEW
• The week in review
• TECHNICAL ANALYSIS
• APPENDIX

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