Where markets were leaning on 2026-11-07
The net read we published that day, kept as a dated record. For where markets are leaning right now, see today's outlook.
Rates Bonds
The gist: The outlook for rates and bonds is leaning higher for US interest rates, driven by a strong October jobs report that exceeded economist expectations [monetary-policy, tech]. While US inflation has risen from 3% to 3.9%, capital flows are showing a "mild reallocation" away from the US dollar and US markets toward Europe, Asia, and emerging markets [inflation].
Updated 2026-11-07 20:14 UTC · sign up for the full net read + the markets you follow
Fx
The gist: The FX market appears to be leaning lower for certain emerging market currencies, particularly the Brazilian Real, while other regions remain sideways. While the Nigerian Naira has shown strength due to increased turnover, the Brazilian Real has faced significant downward pressure following recent election results, and Iraqi real estate demand is leaning lower due to currency depreciation.
Updated 2026-11-07 20:14 UTC · sign up for the full net read + the markets you follow
Commodities
The gist: The commodities market is leaning lower, driven primarily by declining precious metals as gold and silver decouple from traditional inflation hedges. While some niche agricultural sectors show upward momentum, the broader precious metals landscape is weighed down by falling demand in Indonesia and price corrections in regional markets.
Updated 2026-11-07 19:53 UTC · sign up for the full net read + the markets you follow
Us Equities
The gist: US equities are leaning lower, driven by a massive single-day decline in the Nasdaq-100 and a significant spike in the VIX. While analyst sentiment remains highly fragmented and sideways across various sectors, the combination of sharp tech sell-offs and localized insider selling—specifically $32M in open-market sales by three Visa Inc. insiders during a sharp down day—suggests a fragile environment.
Updated 2026-11-07 18:44 UTC · sign up for the full net read + the markets you follow
Global Macro
The gist: Global equities and risk assets are leaning lower following a period of extreme, synchronized selling across major international indices. The dominant driver is a broad, simultaneous downward move in markets including the S&P 500, DAX, Nikkei 225, FTSE 100, and KOSPI.
Updated 2026-11-07 18:23 UTC · sign up for the full net read + the markets you follow
Emerging Markets
The gist: Emerging markets are trending sideways due to extreme regional divergence, where significant strength in China and Hong Kong is being offset by sharp selling pressure in South Korea and broader global indices. While China-linked equities and specific sectors like healthcare and travel show upward momentum, the broader Asian landscape remains fragile and highly volatile.
Updated 2026-11-07 16:54 UTC · sign up for the full net read + the markets you follow
Energy
The gist: The energy market is leaning higher, driven by heightened geopolitical volatility and supply-side risks following significant Russian military operations and a fatal missile attack on a tanker in the Basra Gulf.
Updated 2026-11-07 15:44 UTC · sign up for the full net read + the markets you follow
Crypto
The gist: The crypto market is leaning lower as significant geopolitical, regulatory, and technical headwinds outweigh localized growth drivers. While prediction market activity and specific retail accessibility in Russia show upward momentum, these are countered by heavy downward pressure from large-scale cyberattacks, US sanctions on international service providers, and broader tech-sector selling.
Updated 2026-11-07 15:24 UTC · sign up for the full net read + the markets you follow
Eu Equities
The gist: European equities are leaning lower following a synchronized global sell-off. The market is characterized by significant downward momentum, with major indices like the DAX and FTSE 100 experiencing declines that fall far outside their normal trading ranges. Watch: - The scale of selling in Germany (DAX) and the United Kingdom (FTSE 100) relative to their historical volatility.
Updated 2026-11-07 10:53 UTC · sign up for the full net read + the markets you follow
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