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For all the fuss, the dollar rally has been underwhelming so far

Dion Rabouin, author of Markets
Data: FactSet; Chart: Axios Visuals

The dollar index rose for the fourth straight session on Monday, worrying investors that the recent rally that has sent the dollar lower as stocks have risen higher could be coming undone.

What they're saying: "The appreciation of the dollar is coming at a time of not only rising yields but a risk-off period created by heightened uncertainty about political developments in the U.S.," Paresh Upadhyaya, director of currency strategy and portfolio manager for Amundi Pioneer Asset Management, told Reuters.

  • "I think that is exaggerating the strength in the dollar."

But, but, but: The dollar hasn't been that strong. The greenback is still about 7% lower than where it was at this time last year and has only risen by 0.7% year to date.

  • Further, Commodity Futures Trading Commission data released Friday showed speculators in the FX market remain extremely bearish on the dollar, taking net short positions to new highs.

Go deeper

Dion Rabouin, author of Markets
Jan 12, 2021 - Economy & Business

The big hedge

Illustration: Aïda Amer/Axios

Warnings that the U.S. equity market looks to be in a bubble are coming from a slew of Wall Street asset managers and strategists as stocks continue to reach new record highs and markets display abnormal behavior. But data show that while investors are hedging their bets, there is hardly a mad dash to sell out of equity positions.

What's happening: As the 10-year Treasury yield rises solidly above 1% — its highest level in nearly a year — a growing contingent of investors fear that a crash is imminent without the ballast of rock-bottom interest rates.

Go deeper (1 min. read)Arrow
Ursula Perano
Jan 13, 2021 - Economy & Business

Dollar General will pay staff to get COVID-19 vaccine

Photo: Jeremy Hogan/SOPA Images/LightRocket via Getty Images

Dollar General is offering four hours of pay to its 157,000 employees if they get a coronavirus vaccine, the Wall Street Journal reports.

Why it matters: The company is one of the first major retailers to incentivize its employees to receive the vaccine. Stores and businesses that have frontline workers are currently vying for accelerated access to vaccines — hoping that early inoculation could boost customer confidence.

Go deeper (<1 min. read)Arrow
Dion Rabouin, author of Markets
Jan 12, 2021 - Economy & Business

Elon Musk tweet about Signal messaging app sent stock with same name flying

Data; FactSet; Chart: Axios Visuals

The surge in Texas health care company Signal Advance continued on Monday as the stock rose by 438%, after previously gaining 1800% during one 24-hour period.

The catalyst: A Thursday tweet from Tesla CEO Elon Musk that said simply, “Use Signal.” Musk was recommending the encrypted messaging service (an independent 501c3) that competes with Facebook's WhatsApp, but a frenzy ensued in Signal Advance (SIGL) nonetheless that has continued for days.

Go deeper (<1 min. read)Arrow