Hello, welcome to the Real Vision Daily Briefing on Maggie Lake.

It is September 9th, 2021.

With me today is Tony Greer of TG Macro.

On our economic radar today, US Weekly Jobless claims showed fewer Americans applied for unemployment,

pretty good news for the labor market, but that wasn't enough to counter some of those

lingering concerns out there, including the continued impact of the Delta variant and China's

crackdown on tech.

And then of course, there was the direction of monetary policy.

The European Central Bank announced it would slow the pace of the pandemic emergency

bond buying yet put in place, although ECB President Christine Lagarde took great pains

to say it was not a tapering of bond buying that is a place to support the Arizona economy.

Jerry seems to be a little bit out on that.

US stock struggle for most of the day, ending down about a half a percent yield on the 10-year

back down at 1.30 percent.

Tony, what did you make of the market action today?

Well, not just for consecutive down days, Maggie, you know, it's something that we've got

to at least be mindful of, you know, the S&P seems to be wanting to trudge higher, but

we're doing a little bit of rotating around 4,500 in the S&P, which has been a new milestone.

So I think the new dynamic recently, for me, that I've noticed is that, you know, the

emergence of big tech performance once again, you know, Fang is up about 12 percent in

the last three months.

Fang complex, I'm talking about Facebook, Apple, Amazon, Netflix, and Google.

...