Bonds vs Tech & Golden/Death Crosses

Mixeds global indices as a result of more bad news on the Corona front, partly offset by positive findings that Gilead's remdisivir virus treatment is associated with a 62% decline in death risk vs standard care. As the SPX shows a Golden Cross in its 55/200 MA cross, here's more on the golden EURUSD and death cross in USDX below. and golddenRelentless dip-buying in tech supported equities Thursday but the bond market painted a more-troubling picture. CAD is the weakest of the day alongside AUD-- despite an upside surprise in Canada's employment as market foscused on a higher than exp jobless rate. JPY and GBP lead the day, with cable revisiting Thursday's 1.2660s high, keeping Thurday's Premium long in cable +160 pips in the green. Below is today's content from Ashraf's WhatsApp Broadcast Group (open for VIP members of the Premium Insights service) --How the low was called in DOW30 and NASDAQ on Thursday evening and the subsequent call to go long in DOW30, DAX30 and EURUSD. 

At 17:30 Friday London, Nasdaq is down -0.2%, while DOW30 and SPX are up more than 0.5%. Risk trades soured Thursday on stubbornly high US unemployment claims and troubling virus signs but after a minor rout, Nasdaq dip-buyers stepped in once again to limit the damage. However it was a different story in the bond market as 10-year Treasury yields fell 5 bps and 30s fell 8.6 bps as the steepener trade unwound. Long bond yields are now at the lowest since May 15 in a growing sign of the demand for safety.

One of the things market bulls frequently cite is the low US mortality but that's showing troubling signs as well. California and Florida both reported record one-day highs. It all sets up for another battle on Friday, a day where virus testing and positive cases often hit new highs in the US.