Apple's Leadership Shake-Up Ignites Tech Revolution

Market Commentary

Based on our latest observations, last week in the market we saw outperformers such as CAC, STOXX50, DAX, and NDX with returns of 2.65%, 2.45%, 2.16%, and 1.55% respectively. However, CSI300 and Silver were the underperformers, with returns of -3.47% and -6.45% respectively. The negative returns of SPX and NDX suggest a bearish market sentiment, while positive returns would indicate a bullish market.

In terms of treasury yields, all treasuries have increased compared to their yields from one week ago. The largest increases were seen in the 30Y treasury, while the 10Y treasury had the smallest increase.

In terms of risk/reward ratio, NDX has the highest ratio of 1.97, followed by DAX with 1.25 and FTSE with 0.12. On the other hand, HSI has the lowest ratio of -0.72, followed by CSI300 with -0.87 and STI with -0.4.

Securities with the lowest average correlation with all other assets include Brent, WTI, Gold, Silver, ASX200, DJI, and HSI, indicating potential diversification opportunities for investors.

Last week, Jony Ive, Apple's chief designer for iPhone and Watch, announced his departure from the company, leading to a major leadership reshuffle. In other news, Apple is reportedly planning to release the M3 MacBook Air and make improvements to its iPad lineup in March. Additionally, there were controversies at Harvard and the University of Pennsylvania, and media mogul Shari Redstone explored options for Paramount.

Looking ahead, some of the upcoming economic data for next week that we should watch out for include US Industrial Production YoY, US Inflation Rate YoY, US Core Inflation Rate MoM, US PPI YoY, and US Retail Sales MoM. The forecasted numbers for these data points are provided. Any surprises towards the upside or downside may cause market fluctuations, and these data points should be monitored closely.

Overall, last week showed mixed performance in the market with both outperformers and underperformers. Treasury yields have increased, indicating a potential shift in market sentiment. The risk/reward ratios and correlation analysis provide insights into potential investment opportunities and diversification benefits. The upcoming economic data will likely impact market volatility, and market participants should pay close attention to the forecasted numbers as well as any surprises.

Essential Charts