Tariffs, Risk-Off And Risk-On

Trader & Market Analyst • Jul 9, 2025 at 10:12 AM EDT

USD keeps slowly going up, however yields ascent is looking clearly tired at the moment, which has risk-taking consequences.

person using MacBook Pro on table

Image Source: Unsplash

Yesterday was risk-on for S&P 500 under the surface, so will it stick during today‘s FOMC minutes and bond auctions? USD keeps slowly going up, however yields ascent is looking clearly tired at the moment, which has risk-taking consequences. Looking at market breadth and sectoral perspectives in only the last 7 days, would you describe this market setup as one of waiting for (another tariff) shoe to drop?

Start by checking today‘s video for more – hopefully you‘ll come to appreciate the difference in Monday‘s and today‘s opening setup.

(Click on image to enlarge)

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