**PLEASE READ*** SPECIAL LONGTERM PIECE SWAPS USFS1020 : THIS IS NOW STARTING TO “WORK” GIVEN ITS ASSOCIATION WITH FALLING YIELDS, SIMILAR TO THE YIELD CHARTS WE HAVE A LONG WAY TO FALL!

SPECIAL LONGTERM PIECE SWAPS USFS1020 : THIS IS NOW STARTING TO “WORK” GIVEN ITS ASSOCIATION WITH FALLING YIELDS, SIMILAR TO THE YIELD CHARTS WE HAVE A LONG WAY TO FALL!

WE ARE BACK HERE AGAIN BUT THIS TIME THE RSI IS HIGHER!

LONGTERM BIAS : IS REC 20YR SWAP, PAY 10YR SWAP.

***THIS “MIGHT” HELP PEOPLE APPRECIATE THE HISTORICAL-TECHNICAL ARGUMENT FOR LOWER BOND YIELDS GOING FORWARD.***

THIS IS A RARE FORMATION GIVEN THE 100 PERIOD MOVING AVERAGE HITS ARE VERY RARE OVER THE LAST TWO DECADES. 

THE CHARTS ARE PRETTY SELF EXPLANATORY BUT COULD BE MASSIVELY EFFECTIVE ESPECIALLY IF HISTORY IS TO REPEAT ITSELF.

 

 

ASTOR RIDGE : Independent Ideas, Research, Liquidity, Anonymity and Trusted Experience.

 

  • UK:         14-16 Dowgate Hill, London EC4R 2SU
  • US:          245 Park Ave, 39th Floor, NY, NY, 10167
  • Office:   +44 (0) 203 143 4174
  • Mobile:  +44 (0) 7980708683
  • Email:     chris.williams@astorridge.com
  • Web:       www.AstorRidge.com
  •  
  • •             I provide our research notification below for your convenience:
  • •            
  • •             Research Unbundling:
  • •            
  • •             Astor Ridge does not provide independent research. We have no dedicated or paid strategists, research portals, or research subscriptions. However, you may receive unsolicited marketing communications from our Introducing Brokers from time to time, which may refer to specific trade recommendations. These recommendations are based solely on the opinion of the author, and are not official research recommendations of Astor Ridge.We have considered guidance from ESMA, and any written material from our Introducing Brokers that might fall within the scope of the rules will be provided for free, and made publicly available on our website, to any EU Investment firm that registers for it.
  • •            
  • •             If you are a MiFID firm and do not agree with our approach, and instead believe that you must pay for written commentary or trade recommendations, then Astor Ridge will accept  payments determined by    you.
  • •            
  • •            
  • •            
  • •             I also direct you to our disclaimer on our email footer:
  • •             This marketing was prepared by Christopher Williams, a consultant with Astor Ridge.  It is not appropriate to characterize this e-mail as independent investment research as referred to in MiFID and that it should be treated as a marketing communication even if it contains a trade recommendation. A history of marketing materials and research reports can be provided upon request in compliance with the European Commission’s Market Abuse Regulation.  Astor Ridge takes no proprietary trading risk, has no market making facilities, and has no position in any security we discuss in this e-mail.  The views in this e-mail are those of the author(s) and are subject to change, and Astor Ridge has no obligation to update its opinions or the information in this publication. If this e-mail contains opinions or recommendations, those opinions or recommendations reflect solely and exclusively those of the author, and such opinions were prepared independently of any other interests, including those of Astor Ridge and/or its affiliates. This publication does not constitute personal investment advice or take into account the individual financial circumstances or objectives of the those who receive it. The securities discussed herein may not be suitable for all investors. Astor Ridge recommends that investors independently evaluate each issuer, security or instrument discussed herein, and consult any independent advisors they believe necessary. The value of, and income from, any investment may fluctuate from day to day as a result of changes in relevant economic markets (including changes in market liquidity). The information herein is not intended to predict actual results, which may differ substantially from those reflected. Past performance is not necessarily indicative of future results. 
  • •            
  • •             You should not use or disclose to any other person the contents of this e-mail or its attachments (if any), nor take copies. This e-mail is not a representation or warranty and is not intended nor should it be taken to create any legal relations, contractual or otherwise. This e-mail and any files transmitted with it are confidential, may be legally privileged, and are for the sole use of the intended recipient. Copyright in this e-mail and any accompanying document created by Astor Ridge LLP is owned by Astor Ridge LLP. 
  • •            
  • •             Astor Ridge LLP is regulated by the Financial Conduct Authority (FCA):  Registration Number 579287
  • •             Astor Ridge LLP is Registered in England and Wales with Companies House:  Registration Number OC372185
  • •             Astor Ridge NA LLP is a member of FINRA/SIPC:  CRD Number 282626
  • •             Astor Ridge NA LLP is a member of the National Futures Association (NFA):  Firm ID Number 0499303
  • •             Astor Ridge NA LLP is Registered in England and Wales with Companies House:  Registration Number OC401796
  • •            
  • •            
  • •             If there is anything else you require from us to continue receiving our market communications, or prefer a different medium for access (e.g. publicly available password protected access on the Astor Ridge website), please do let me know.
  • •            
  • •             Otherwise, if you are more comfortable to deem consent by simply acknowledging receipt of this email, and continuing our trading relationship under our updated terms of business below, without registering your disapproval, we are happy to proceed on that basis.
  • •            
  • •             Many thanks,
  • •            
  • •             Chris

 

 

 

 


***PLEASE READ*** BOND YIELD MONTHLY AND QUARTERLY CHARTS : HISTORY IS STARTING TO REPEAT ITSELF AND MANY CHARTS THAT DATES BACK TO 1980’S RSI LEVELS..

BOND YIELD MONTHLY AND QUARTERLY CHARTS : HISTORY IS STARTING TO REPEAT ITSELF AND MANY CHARTS THAT DATES BACK TO 1980’S RSI LEVELS!

WE HAVE NEW MONTHLY YIELD LOWS WITH A LOT OF “FREE AIR” TO THE DOWNSIDE. WE ARE BREACHING SOME VERY LONGTERM KEY LEVELS.

PREVIOUSLY :

ALL CHARTS DEPICT A MAJOR REVERSAL-TOP SO FAR THIS MONTH SO VERY KEY.  IF WE DO TOP OUT THEN THE MOVE LOWER WILL BE “RAPID” AND FOR SOME TIME  TO COME.

US 5YR YIELDS HIT AND REJECT A 1962 YIELD LOW, PAGES 7&8, THIS COULD BE THE PERFECT TECHNICAL REJECTION!

CANADA HAVE ALL HIT AND REJECTED MULTI YEAR 38.2% RETRACEMENTS WITH NEVER BEFORE SEEN RSI’S.

**KEY CHARTS ARE** : US 30YR QUARTERLY, US 10YR MONTHLY, US 5YR QUARTERLY, CAD 10YR MONTHLY, UK 5YR MONTHLY. ALL CHARTS HAVE SIMILAR RSI EXTENSIONS MANY AT “NEVER” BEFORE SEEN LEVELS.

** WORTH A LOOK FOR THOSE LONGTERM PLAYERS **

 

 

ASTOR RIDGE : Independent Ideas, Research, Liquidity, Anonymity and Trusted Experience.

 

  • UK:         14-16 Dowgate Hill, London EC4R 2SU
  • US:          245 Park Ave, 39th Floor, NY, NY, 10167
  • Office:   +44 (0) 203 143 4174
  • Mobile:  +44 (0) 7980708683
  • Email:     chris.williams@astorridge.com
  • Web:       www.AstorRidge.com
  •  
  • •             I provide our research notification below for your convenience:
  • •            
  • •             Research Unbundling:
  • •            
  • •             Astor Ridge does not provide independent research. We have no dedicated or paid strategists, research portals, or research subscriptions. However, you may receive unsolicited marketing communications from our Introducing Brokers from time to time, which may refer to specific trade recommendations. These recommendations are based solely on the opinion of the author, and are not official research recommendations of Astor Ridge.We have considered guidance from ESMA, and any written material from our Introducing Brokers that might fall within the scope of the rules will be provided for free, and made publicly available on our website, to any EU Investment firm that registers for it.
  • •            
  • •             If you are a MiFID firm and do not agree with our approach, and instead believe that you must pay for written commentary or trade recommendations, then Astor Ridge will accept  payments determined by    you.
  • •            
  • •            
  • •            
  • •             I also direct you to our disclaimer on our email footer:
  • •             This marketing was prepared by Christopher Williams, a consultant with Astor Ridge.  It is not appropriate to characterize this e-mail as independent investment research as referred to in MiFID and that it should be treated as a marketing communication even if it contains a trade recommendation. A history of marketing materials and research reports can be provided upon request in compliance with the European Commission’s Market Abuse Regulation.  Astor Ridge takes no proprietary trading risk, has no market making facilities, and has no position in any security we discuss in this e-mail.  The views in this e-mail are those of the author(s) and are subject to change, and Astor Ridge has no obligation to update its opinions or the information in this publication. If this e-mail contains opinions or recommendations, those opinions or recommendations reflect solely and exclusively those of the author, and such opinions were prepared independently of any other interests, including those of Astor Ridge and/or its affiliates. This publication does not constitute personal investment advice or take into account the individual financial circumstances or objectives of the those who receive it. The securities discussed herein may not be suitable for all investors. Astor Ridge recommends that investors independently evaluate each issuer, security or instrument discussed herein, and consult any independent advisors they believe necessary. The value of, and income from, any investment may fluctuate from day to day as a result of changes in relevant economic markets (including changes in market liquidity). The information herein is not intended to predict actual results, which may differ substantially from those reflected. Past performance is not necessarily indicative of future results. 
  • •            
  • •             You should not use or disclose to any other person the contents of this e-mail or its attachments (if any), nor take copies. This e-mail is not a representation or warranty and is not intended nor should it be taken to create any legal relations, contractual or otherwise. This e-mail and any files transmitted with it are confidential, may be legally privileged, and are for the sole use of the intended recipient. Copyright in this e-mail and any accompanying document created by Astor Ridge LLP is owned by Astor Ridge LLP. 
  • •            
  • •             Astor Ridge LLP is regulated by the Financial Conduct Authority (FCA):  Registration Number 579287
  • •             Astor Ridge LLP is Registered in England and Wales with Companies House:  Registration Number OC372185
  • •             Astor Ridge NA LLP is a member of FINRA/SIPC:  CRD Number 282626
  • •             Astor Ridge NA LLP is a member of the National Futures Association (NFA):  Firm ID Number 0499303
  • •             Astor Ridge NA LLP is Registered in England and Wales with Companies House:  Registration Number OC401796
  • •            
  • •            
  • •             If there is anything else you require from us to continue receiving our market communications, or prefer a different medium for access (e.g. publicly available password protected access on the Astor Ridge website), please do let me know.
  • •            
  • •             Otherwise, if you are more comfortable to deem consent by simply acknowledging receipt of this email, and continuing our trading relationship under our updated terms of business below, without registering your disapproval, we are happy to proceed on that basis.
  • •            
  • •             Many thanks,
  • •            
  • •             Chris

 

 

 

 


***UK LINKERS*** NOW THAT MANY LINKERS HAVE A BASE ITS “POISED” TO PUT IN AN EXTENDED RANGE TO THE UPSIDE.

***UK LINKERS*** NOW THAT MANY LINKERS HAVE A BASE ITS “POISED” TO PUT IN AN EXTENDED RANGE TO THE UPSIDE. THIS MONTH HAS ALREADY BREACHED LAST WEEKS HIGH THUS A VERY POSITIVE START.

CURRENTLY THE FRONT END MATURITY HAS MORE OF AN ESTABLISHED BASE.

WE HAVE MANY HISTORICAL RSI DISLOCATIONS AND IT SEEMS UK LINKERS ARE NO EXCEPTION.

WE HAVE NEW HISTORICAL WEEKLY RSI LOWS IN-CONJUNCTION WITH NUMEROUS 176.4% AND 200% RET EXTENSIONS.

 

ASTOR RIDGE : Independent Ideas, Research, Liquidity, Anonymity and Trusted Experience.

 

  • UK:         14-16 Dowgate Hill, London EC4R 2SU
  • US:          245 Park Ave, 39th Floor, NY, NY, 10167
  • Office:   +44 (0) 203 143 4174
  • Mobile:  +44 (0) 7980708683
  • Email:     chris.williams@astorridge.com
  • Web:       www.AstorRidge.com
  •  
  • •             I provide our research notification below for your convenience:
  • •            
  • •             Research Unbundling:
  • •            
  • •             Astor Ridge does not provide independent research. We have no dedicated or paid strategists, research portals, or research subscriptions. However, you may receive unsolicited marketing communications from our Introducing Brokers from time to time, which may refer to specific trade recommendations. These recommendations are based solely on the opinion of the author, and are not official research recommendations of Astor Ridge.We have considered guidance from ESMA, and any written material from our Introducing Brokers that might fall within the scope of the rules will be provided for free, and made publicly available on our website, to any EU Investment firm that registers for it.
  • •            
  • •             If you are a MiFID firm and do not agree with our approach, and instead believe that you must pay for written commentary or trade recommendations, then Astor Ridge will accept  payments determined by    you.
  • •            
  • •            
  • •            
  • •             I also direct you to our disclaimer on our email footer:
  • •             This marketing was prepared by Christopher Williams, a consultant with Astor Ridge.  It is not appropriate to characterize this e-mail as independent investment research as referred to in MiFID and that it should be treated as a marketing communication even if it contains a trade recommendation. A history of marketing materials and research reports can be provided upon request in compliance with the European Commission’s Market Abuse Regulation.  Astor Ridge takes no proprietary trading risk, has no market making facilities, and has no position in any security we discuss in this e-mail.  The views in this e-mail are those of the author(s) and are subject to change, and Astor Ridge has no obligation to update its opinions or the information in this publication. If this e-mail contains opinions or recommendations, those opinions or recommendations reflect solely and exclusively those of the author, and such opinions were prepared independently of any other interests, including those of Astor Ridge and/or its affiliates. This publication does not constitute personal investment advice or take into account the individual financial circumstances or objectives of the those who receive it. The securities discussed herein may not be suitable for all investors. Astor Ridge recommends that investors independently evaluate each issuer, security or instrument discussed herein, and consult any independent advisors they believe necessary. The value of, and income from, any investment may fluctuate from day to day as a result of changes in relevant economic markets (including changes in market liquidity). The information herein is not intended to predict actual results, which may differ substantially from those reflected. Past performance is not necessarily indicative of future results. 
  • •            
  • •             You should not use or disclose to any other person the contents of this e-mail or its attachments (if any), nor take copies. This e-mail is not a representation or warranty and is not intended nor should it be taken to create any legal relations, contractual or otherwise. This e-mail and any files transmitted with it are confidential, may be legally privileged, and are for the sole use of the intended recipient. Copyright in this e-mail and any accompanying document created by Astor Ridge LLP is owned by Astor Ridge LLP. 
  • •            
  • •             Astor Ridge LLP is regulated by the Financial Conduct Authority (FCA):  Registration Number 579287
  • •             Astor Ridge LLP is Registered in England and Wales with Companies House:  Registration Number OC372185
  • •             Astor Ridge NA LLP is a member of FINRA/SIPC:  CRD Number 282626
  • •             Astor Ridge NA LLP is a member of the National Futures Association (NFA):  Firm ID Number 0499303
  • •             Astor Ridge NA LLP is Registered in England and Wales with Companies House:  Registration Number OC401796
  • •            
  • •            
  • •             If there is anything else you require from us to continue receiving our market communications, or prefer a different medium for access (e.g. publicly available password protected access on the Astor Ridge website), please do let me know.
  • •            
  • •             Otherwise, if you are more comfortable to deem consent by simply acknowledging receipt of this email, and continuing our trading relationship under our updated terms of business below, without registering your disapproval, we are happy to proceed on that basis.
  • •            
  • •             Many thanks,
  • •            
  • •             Chris

 

 

 

 


***UK LINKERS UPDATE*** SOME PARTS OF THE CURVE HAVE BEEN TESTING WITH NEW LOWS BUT “GENERALLY” WE HAVE “HELD” AND FORMED A MAJOR BASE. (PREVIOUSLY SENT ON JULY 5TH).

***UK LINKERS*** SOME PARTS  OF  THE CURVE  HAVE  BEEN  TESTING  WITH  NEW  LOWS  BUT  “GENERALLY” WE  HAVE  “HELD” AND  FORMED A  MAJOR BASE. (PREVIOUSLY  SENT ON   JULY 5TH).

CURRENTLY THE FRONT END MATURITY HAS MORE OF AN ESTABLISHED BASE.

 

WE HAVE MANY HISTORICAL RSI DISLOCATIONS AND IT SEEMS UK LINKERS ARE NO EXCEPTION.

WE HAVE NEW HISTORICAL WEEKLY RSI LOWS IN-CONJUNCTION WITH NUMEROUS 176.4% AND 200% RET EXTENSIONS.

 

 

ASTOR RIDGE : Independent Ideas, Research, Liquidity, Anonymity and Trusted Experience.

 

  • UK:         14-16 Dowgate Hill, London EC4R 2SU
  • US:          245 Park Ave, 39th Floor, NY, NY, 10167
  • Office:   +44 (0) 203 143 4174
  • Mobile:  +44 (0) 7980708683
  • Email:     chris.williams@astorridge.com
  • Web:       www.AstorRidge.com
  •  
  • •             I provide our research notification below for your convenience:
  • •            
  • •             Research Unbundling:
  • •            
  • •             Astor Ridge does not provide independent research. We have no dedicated or paid strategists, research portals, or research subscriptions. However, you may receive unsolicited marketing communications from our Introducing Brokers from time to time, which may refer to specific trade recommendations. These recommendations are based solely on the opinion of the author, and are not official research recommendations of Astor Ridge.We have considered guidance from ESMA, and any written material from our Introducing Brokers that might fall within the scope of the rules will be provided for free, and made publicly available on our website, to any EU Investment firm that registers for it.
  • •            
  • •             If you are a MiFID firm and do not agree with our approach, and instead believe that you must pay for written commentary or trade recommendations, then Astor Ridge will accept  payments determined by    you.
  • •            
  • •            
  • •            
  • •             I also direct you to our disclaimer on our email footer:
  • •             This marketing was prepared by Christopher Williams, a consultant with Astor Ridge.  It is not appropriate to characterize this e-mail as independent investment research as referred to in MiFID and that it should be treated as a marketing communication even if it contains a trade recommendation. A history of marketing materials and research reports can be provided upon request in compliance with the European Commission’s Market Abuse Regulation.  Astor Ridge takes no proprietary trading risk, has no market making facilities, and has no position in any security we discuss in this e-mail.  The views in this e-mail are those of the author(s) and are subject to change, and Astor Ridge has no obligation to update its opinions or the information in this publication. If this e-mail contains opinions or recommendations, those opinions or recommendations reflect solely and exclusively those of the author, and such opinions were prepared independently of any other interests, including those of Astor Ridge and/or its affiliates. This publication does not constitute personal investment advice or take into account the individual financial circumstances or objectives of the those who receive it. The securities discussed herein may not be suitable for all investors. Astor Ridge recommends that investors independently evaluate each issuer, security or instrument discussed herein, and consult any independent advisors they believe necessary. The value of, and income from, any investment may fluctuate from day to day as a result of changes in relevant economic markets (including changes in market liquidity). The information herein is not intended to predict actual results, which may differ substantially from those reflected. Past performance is not necessarily indicative of future results. 
  • •            
  • •             You should not use or disclose to any other person the contents of this e-mail or its attachments (if any), nor take copies. This e-mail is not a representation or warranty and is not intended nor should it be taken to create any legal relations, contractual or otherwise. This e-mail and any files transmitted with it are confidential, may be legally privileged, and are for the sole use of the intended recipient. Copyright in this e-mail and any accompanying document created by Astor Ridge LLP is owned by Astor Ridge LLP. 
  • •            
  • •             Astor Ridge LLP is regulated by the Financial Conduct Authority (FCA):  Registration Number 579287
  • •             Astor Ridge LLP is Registered in England and Wales with Companies House:  Registration Number OC372185
  • •             Astor Ridge NA LLP is a member of FINRA/SIPC:  CRD Number 282626
  • •             Astor Ridge NA LLP is a member of the National Futures Association (NFA):  Firm ID Number 0499303
  • •             Astor Ridge NA LLP is Registered in England and Wales with Companies House:  Registration Number OC401796
  • •            
  • •            
  • •             If there is anything else you require from us to continue receiving our market communications, or prefer a different medium for access (e.g. publicly available password protected access on the Astor Ridge website), please do let me know.
  • •            
  • •             Otherwise, if you are more comfortable to deem consent by simply acknowledging receipt of this email, and continuing our trading relationship under our updated terms of business below, without registering your disapproval, we are happy to proceed on that basis.
  • •            
  • •             Many thanks,
  • •            
  • •             Chris

 

 

 

 


**SPECIAL SINGLE STOCK PRESENTATION** EQUITIES “REMAIN” A FIRM FAVOURITE WITH PEOPLE AS IT SEEMS THE “DIP BUYERS” PERSIST, DESPITE MANY TROUBLED STOCKS.

**SPECIAL SINGLE STOCK PRESENTATION** EQUITIES “REMAIN” A FIRM FAVOURITE WITH PEOPLE AS IT SEEMS THE “DIP BUYERS” PERSIST, DESPITE MANY TROUBLED STOCKS.

ADDITIONALLY THE DISTINCT LACK OF “PANIC” PREVAILS DESPITE PREVIOUS “FALLS”.

PREVIOUSLY :

MANY SINGLE STOCKS CONTINUE FALL AND THE VOLUME SHOWS “ZERO” SIGN OF PANIC-DRAMA. THE LACK OF VOLUME ON MANY BIG BRAND NAMES IS A WORRY ESPECIALLY WHEN VIEWED ALONGSIDE, NETFLIX, PELTON AND PAYPAL. IT SEEMS PEOPLE HAVE GOOD ENTRY LEVELS BUT NO ATTEMPT HAS EVER BEEN MADE TO TAKE PROFITS, THIS SCENARIO COULD COST PEOPLE DEARLY.

TECHNICALLY IT SEEMS “NO ONE” IS PROGRAMMED ANYMORE TO TAKE PROFITS, THE RALLY FROM 2008 LOWS HAS ENGRAINED A “BUY DIPS” MENTALITY AS HISTORICALLY THE MARKET ALWAYS RECOVERS.

ADMITIEDLY A LOT OF THE VOLUME IN THE STOCKS MAKING UP THIS PRESENTATION  HAVE BEEN INITIATED AT THE INCEPTION-LOWS BUT AS NETFLIX ETC SHOW THERE IS A FAST ROUTE TO “ZERO”. THERE WILL BE NO VOLUME FOR AN OUT EVEN IF PEOPLE FINALLY WANT TO.

THIS SEEMS A MODERN PHENOMENA AND SUITS THE OVER ALL BULL RUN WE HAVE SEEN BUT IT COULD BECOME AND EXPONENTIAL “WASH OUT”. EVERYTHING IS LIKELY TO BE MAGNIFIED AND MIGHT BE THE PERFECT DRIVER FOR BOND YIELDS TO FALL.

 

 

ASTOR RIDGE : Independent Ideas, Research, Liquidity, Anonymity and Trusted Experience.

 

  • UK:         14-16 Dowgate Hill, London EC4R 2SU
  • US:          245 Park Ave, 39th Floor, NY, NY, 10167
  • Office:   +44 (0) 203 143 4174
  • Mobile:  +44 (0) 7980708683
  • Email:     chris.williams@astorridge.com
  • Web:       www.AstorRidge.com
  •  
  • •             I provide our research notification below for your convenience:
  • •            
  • •             Research Unbundling:
  • •            
  • •             Astor Ridge does not provide independent research. We have no dedicated or paid strategists, research portals, or research subscriptions. However, you may receive unsolicited marketing communications from our Introducing Brokers from time to time, which may refer to specific trade recommendations. These recommendations are based solely on the opinion of the author, and are not official research recommendations of Astor Ridge.We have considered guidance from ESMA, and any written material from our Introducing Brokers that might fall within the scope of the rules will be provided for free, and made publicly available on our website, to any EU Investment firm that registers for it.
  • •            
  • •             If you are a MiFID firm and do not agree with our approach, and instead believe that you must pay for written commentary or trade recommendations, then Astor Ridge will accept  payments determined by    you.
  • •            
  • •            
  • •            
  • •             I also direct you to our disclaimer on our email footer:
  • •             This marketing was prepared by Christopher Williams, a consultant with Astor Ridge.  It is not appropriate to characterize this e-mail as independent investment research as referred to in MiFID and that it should be treated as a marketing communication even if it contains a trade recommendation. A history of marketing materials and research reports can be provided upon request in compliance with the European Commission’s Market Abuse Regulation.  Astor Ridge takes no proprietary trading risk, has no market making facilities, and has no position in any security we discuss in this e-mail.  The views in this e-mail are those of the author(s) and are subject to change, and Astor Ridge has no obligation to update its opinions or the information in this publication. If this e-mail contains opinions or recommendations, those opinions or recommendations reflect solely and exclusively those of the author, and such opinions were prepared independently of any other interests, including those of Astor Ridge and/or its affiliates. This publication does not constitute personal investment advice or take into account the individual financial circumstances or objectives of the those who receive it. The securities discussed herein may not be suitable for all investors. Astor Ridge recommends that investors independently evaluate each issuer, security or instrument discussed herein, and consult any independent advisors they believe necessary. The value of, and income from, any investment may fluctuate from day to day as a result of changes in relevant economic markets (including changes in market liquidity). The information herein is not intended to predict actual results, which may differ substantially from those reflected. Past performance is not necessarily indicative of future results. 
  • •            
  • •             You should not use or disclose to any other person the contents of this e-mail or its attachments (if any), nor take copies. This e-mail is not a representation or warranty and is not intended nor should it be taken to create any legal relations, contractual or otherwise. This e-mail and any files transmitted with it are confidential, may be legally privileged, and are for the sole use of the intended recipient. Copyright in this e-mail and any accompanying document created by Astor Ridge LLP is owned by Astor Ridge LLP. 
  • •            
  • •             Astor Ridge LLP is regulated by the Financial Conduct Authority (FCA):  Registration Number 579287
  • •             Astor Ridge LLP is Registered in England and Wales with Companies House:  Registration Number OC372185
  • •             Astor Ridge NA LLP is a member of FINRA/SIPC:  CRD Number 282626
  • •             Astor Ridge NA LLP is a member of the National Futures Association (NFA):  Firm ID Number 0499303
  • •             Astor Ridge NA LLP is Registered in England and Wales with Companies House:  Registration Number OC401796
  • •            
  • •            
  • •             If there is anything else you require from us to continue receiving our market communications, or prefer a different medium for access (e.g. publicly available password protected access on the Astor Ridge website), please do let me know.
  • •            
  • •             Otherwise, if you are more comfortable to deem consent by simply acknowledging receipt of this email, and continuing our trading relationship under our updated terms of business below, without registering your disapproval, we are happy to proceed on that basis.
  • •            
  • •             Many thanks,
  • •            
  • •             Chris

 

 

 

 


US STOCKS : EQUITIES HAVE “PAUSED” BUT REMAIN “SUB” ALL MAJOR MOVING AVERAGES.

US STOCKS : EQUITIES HAVE “PAUSED” BUT REMAIN “SUB” ALL MAJOR MOVING AVERAGES.


EQUITIES HAVE TRADED SIEDWAYS FOR THE LAST FEW WEEKS BUT HAVE MADE LITTLE GAINS WHICH SUB ALL KEY MOVING AVERAGES. THE CLOSE COULD BE KEY IF MONTH END IS PUSHING RECENT LOWS.

SINGLE STOCKS “SEEM” TO BE HOLDING BUT MANY REMAIN “DAMAGED” GOODS.

PREVIOUSLY :
BITCOIN CONTINUES TO REMAIN HEAVY WITH LITTLE TO NO RECOVERY, IT TOO REMIANS SUB A KEY MOVING AVERAGE.

INTEL HAS RECOGNISED IT’S HUGE LEVEL 42.04, WE ARE THERE NOW! IF BREACHED IT SHOULD HELP SIGNAL MAJOR FAILURE ELSEWHERE.

ASTOR RIDGE : Independent Ideas, Research, Liquidity, Anonymity and Trusted Experience.

 

  • UK:         14-16 Dowgate Hill, London EC4R 2SU
  • US:          245 Park Ave, 39th Floor, NY, NY, 10167
  • Office:   +44 (0) 203 143 4174
  • Mobile:  +44 (0) 7980708683
  • Email:     chris.williams@astorridge.com
  • Web:       www.AstorRidge.com
  •  
  • •             I provide our research notification below for your convenience:
  • •            
  • •             Research Unbundling:
  • •            
  • •             Astor Ridge does not provide independent research. We have no dedicated or paid strategists, research portals, or research subscriptions. However, you may receive unsolicited marketing communications from our Introducing Brokers from time to time, which may refer to specific trade recommendations. These recommendations are based solely on the opinion of the author, and are not official research recommendations of Astor Ridge.We have considered guidance from ESMA, and any written material from our Introducing Brokers that might fall within the scope of the rules will be provided for free, and made publicly available on our website, to any EU Investment firm that registers for it.
  • •            
  • •             If you are a MiFID firm and do not agree with our approach, and instead believe that you must pay for written commentary or trade recommendations, then Astor Ridge will accept  payments determined by    you.
  • •            
  • •            
  • •            
  • •             I also direct you to our disclaimer on our email footer:
  • •             This marketing was prepared by Christopher Williams, a consultant with Astor Ridge.  It is not appropriate to characterize this e-mail as independent investment research as referred to in MiFID and that it should be treated as a marketing communication even if it contains a trade recommendation. A history of marketing materials and research reports can be provided upon request in compliance with the European Commission’s Market Abuse Regulation.  Astor Ridge takes no proprietary trading risk, has no market making facilities, and has no position in any security we discuss in this e-mail.  The views in this e-mail are those of the author(s) and are subject to change, and Astor Ridge has no obligation to update its opinions or the information in this publication. If this e-mail contains opinions or recommendations, those opinions or recommendations reflect solely and exclusively those of the author, and such opinions were prepared independently of any other interests, including those of Astor Ridge and/or its affiliates. This publication does not constitute personal investment advice or take into account the individual financial circumstances or objectives of the those who receive it. The securities discussed herein may not be suitable for all investors. Astor Ridge recommends that investors independently evaluate each issuer, security or instrument discussed herein, and consult any independent advisors they believe necessary. The value of, and income from, any investment may fluctuate from day to day as a result of changes in relevant economic markets (including changes in market liquidity). The information herein is not intended to predict actual results, which may differ substantially from those reflected. Past performance is not necessarily indicative of future results. 
  • •            
  • •             You should not use or disclose to any other person the contents of this e-mail or its attachments (if any), nor take copies. This e-mail is not a representation or warranty and is not intended nor should it be taken to create any legal relations, contractual or otherwise. This e-mail and any files transmitted with it are confidential, may be legally privileged, and are for the sole use of the intended recipient. Copyright in this e-mail and any accompanying document created by Astor Ridge LLP is owned by Astor Ridge LLP. 
  • •            
  • •             Astor Ridge LLP is regulated by the Financial Conduct Authority (FCA):  Registration Number 579287
  • •             Astor Ridge LLP is Registered in England and Wales with Companies House:  Registration Number OC372185
  • •             Astor Ridge NA LLP is a member of FINRA/SIPC:  CRD Number 282626
  • •             Astor Ridge NA LLP is a member of the National Futures Association (NFA):  Firm ID Number 0499303
  • •             Astor Ridge NA LLP is Registered in England and Wales with Companies House:  Registration Number OC401796
  • •            
  • •            
  • •             If there is anything else you require from us to continue receiving our market communications, or prefer a different medium for access (e.g. publicly available password protected access on the Astor Ridge website), please do let me know.
  • •            
  • •             Otherwise, if you are more comfortable to deem consent by simply acknowledging receipt of this email, and continuing our trading relationship under our updated terms of business below, without registering your disapproval, we are happy to proceed on that basis.
  • •            
  • •             Many thanks,
  • •            
  • •             Chris

 

 

 

 


**SPECIAL LONGTERM PIECE SWAPS USFS1020** : I LOOKED AT THIS FOR A CLIENT BACK IN 2018 AND IT PROVED A NEAR PERFECT “SIGNAL” FOR LOWER BOND YIELDS.

SPECIAL LONGTERM PIECE SWAPS USFS1020 : I LOOKED AT THIS FOR A CLIENT BACK IN 2018 AND IT PROVED A NEAR PERFECT “SIGNAL” FOR LOWER BOND YIELDS.

WE ARE BACK HERE AGAIN BUT THIS TIME THE RSI IS HIGHER!

LONGTERM BIAS : IS REC 20YR SWAP, PAY 10YR SWAP.

***THIS “MIGHT” HELP PEOPLE APPRECIATE THE HISTORICAL-TECHNICAL ARGUMENT FOR LOWER BOND YIELDS GOING FORWARD.***

THIS IS A RARE FORMATION GIVEN THE 100 PERIOD MOVING AVERAGE HITS ARE VERY RARE OVER THE LAST TWO DECADES. 

THE CHARTS ARE PRETTY SELF EXPLANATORY BUT COULD BE MASSIVELY EFFECTIVE ESPECIALLY IF HISTORY IS TO REPEAT ITSELF.

 

 

ASTOR RIDGE : Independent Ideas, Research, Liquidity, Anonymity and Trusted Experience.

 

  • UK:         14-16 Dowgate Hill, London EC4R 2SU
  • US:          245 Park Ave, 39th Floor, NY, NY, 10167
  • Office:   +44 (0) 203 143 4174
  • Mobile:  +44 (0) 7980708683
  • Email:     chris.williams@astorridge.com
  • Web:       www.AstorRidge.com
  •  
  • •             I provide our research notification below for your convenience:
  • •            
  • •             Research Unbundling:
  • •            
  • •             Astor Ridge does not provide independent research. We have no dedicated or paid strategists, research portals, or research subscriptions. However, you may receive unsolicited marketing communications from our Introducing Brokers from time to time, which may refer to specific trade recommendations. These recommendations are based solely on the opinion of the author, and are not official research recommendations of Astor Ridge.We have considered guidance from ESMA, and any written material from our Introducing Brokers that might fall within the scope of the rules will be provided for free, and made publicly available on our website, to any EU Investment firm that registers for it.
  • •            
  • •             If you are a MiFID firm and do not agree with our approach, and instead believe that you must pay for written commentary or trade recommendations, then Astor Ridge will accept  payments determined by    you.
  • •            
  • •            
  • •            
  • •             I also direct you to our disclaimer on our email footer:
  • •             This marketing was prepared by Christopher Williams, a consultant with Astor Ridge.  It is not appropriate to characterize this e-mail as independent investment research as referred to in MiFID and that it should be treated as a marketing communication even if it contains a trade recommendation. A history of marketing materials and research reports can be provided upon request in compliance with the European Commission’s Market Abuse Regulation.  Astor Ridge takes no proprietary trading risk, has no market making facilities, and has no position in any security we discuss in this e-mail.  The views in this e-mail are those of the author(s) and are subject to change, and Astor Ridge has no obligation to update its opinions or the information in this publication. If this e-mail contains opinions or recommendations, those opinions or recommendations reflect solely and exclusively those of the author, and such opinions were prepared independently of any other interests, including those of Astor Ridge and/or its affiliates. This publication does not constitute personal investment advice or take into account the individual financial circumstances or objectives of the those who receive it. The securities discussed herein may not be suitable for all investors. Astor Ridge recommends that investors independently evaluate each issuer, security or instrument discussed herein, and consult any independent advisors they believe necessary. The value of, and income from, any investment may fluctuate from day to day as a result of changes in relevant economic markets (including changes in market liquidity). The information herein is not intended to predict actual results, which may differ substantially from those reflected. Past performance is not necessarily indicative of future results. 
  • •            
  • •             You should not use or disclose to any other person the contents of this e-mail or its attachments (if any), nor take copies. This e-mail is not a representation or warranty and is not intended nor should it be taken to create any legal relations, contractual or otherwise. This e-mail and any files transmitted with it are confidential, may be legally privileged, and are for the sole use of the intended recipient. Copyright in this e-mail and any accompanying document created by Astor Ridge LLP is owned by Astor Ridge LLP. 
  • •            
  • •             Astor Ridge LLP is regulated by the Financial Conduct Authority (FCA):  Registration Number 579287
  • •             Astor Ridge LLP is Registered in England and Wales with Companies House:  Registration Number OC372185
  • •             Astor Ridge NA LLP is a member of FINRA/SIPC:  CRD Number 282626
  • •             Astor Ridge NA LLP is a member of the National Futures Association (NFA):  Firm ID Number 0499303
  • •             Astor Ridge NA LLP is Registered in England and Wales with Companies House:  Registration Number OC401796
  • •            
  • •            
  • •             If there is anything else you require from us to continue receiving our market communications, or prefer a different medium for access (e.g. publicly available password protected access on the Astor Ridge website), please do let me know.
  • •            
  • •             Otherwise, if you are more comfortable to deem consent by simply acknowledging receipt of this email, and continuing our trading relationship under our updated terms of business below, without registering your disapproval, we are happy to proceed on that basis.
  • •            
  • •             Many thanks,
  • •            
  • •             Chris

 

 

 

 


***PLEASE READ*** US AND CAD CURVES : IF BOND YIELDS “TOP” THEN WHATS THE BEST PART OF THE CURVE.

US AND CAD CURVES : IF BOND YIELDS “TOP” THEN WHATS THE BEST PART OF THE CURVE. THE “TECHNICAL” ANSWER ISNT EASY GIVEN ALL HAVE MAJOR RSI DISLOCATIONS.

THE 10-30 HAVE HELD THE RECENT LOW AND CONTINUES TO PERFORM BUT 5-30 IS FAVOURED SLIGHTLY IF IT PLAYS CATCH UP!

CURVES ARE CLOSE TO SOME BIG BREAK LEVELS FORCING THAT LONGTERM STEEPENING, THERE ARE “RARE” HISTORICAL EXAMPLES BEING REPLICATED.

PREVIOUSLY :

THE FOLLOWING CHARTS IMPLY TECHNICALLY A MAJOR STEEPENING BIAS FOR SOME TIME TO COME, THE IMPLICATION IS THAT IT WILL TAKE PLACE OVE THE NEXT FEW MONTHS.

CANADA, THERE IS A LESSER RSI DISLOCATION TO THE US BUT WE ARE HITTING KEY LEVELS.   

 

ASTOR RIDGE : Independent Ideas, Research, Liquidity, Anonymity and Trusted Experience.

 

  • UK:         14-16 Dowgate Hill, London EC4R 2SU
  • US:          245 Park Ave, 39th Floor, NY, NY, 10167
  • Office:   +44 (0) 203 143 4174
  • Mobile:  +44 (0) 7980708683
  • Email:     chris.williams@astorridge.com
  • Web:       www.AstorRidge.com
  •  
  • •             I provide our research notification below for your convenience:
  • •            
  • •             Research Unbundling:
  • •            
  • •             Astor Ridge does not provide independent research. We have no dedicated or paid strategists, research portals, or research subscriptions. However, you may receive unsolicited marketing communications from our Introducing Brokers from time to time, which may refer to specific trade recommendations. These recommendations are based solely on the opinion of the author, and are not official research recommendations of Astor Ridge.We have considered guidance from ESMA, and any written material from our Introducing Brokers that might fall within the scope of the rules will be provided for free, and made publicly available on our website, to any EU Investment firm that registers for it.
  • •            
  • •             If you are a MiFID firm and do not agree with our approach, and instead believe that you must pay for written commentary or trade recommendations, then Astor Ridge will accept  payments determined by    you.
  • •            
  • •            
  • •            
  • •             I also direct you to our disclaimer on our email footer:
  • •             This marketing was prepared by Christopher Williams, a consultant with Astor Ridge.  It is not appropriate to characterize this e-mail as independent investment research as referred to in MiFID and that it should be treated as a marketing communication even if it contains a trade recommendation. A history of marketing materials and research reports can be provided upon request in compliance with the European Commission’s Market Abuse Regulation.  Astor Ridge takes no proprietary trading risk, has no market making facilities, and has no position in any security we discuss in this e-mail.  The views in this e-mail are those of the author(s) and are subject to change, and Astor Ridge has no obligation to update its opinions or the information in this publication. If this e-mail contains opinions or recommendations, those opinions or recommendations reflect solely and exclusively those of the author, and such opinions were prepared independently of any other interests, including those of Astor Ridge and/or its affiliates. This publication does not constitute personal investment advice or take into account the individual financial circumstances or objectives of the those who receive it. The securities discussed herein may not be suitable for all investors. Astor Ridge recommends that investors independently evaluate each issuer, security or instrument discussed herein, and consult any independent advisors they believe necessary. The value of, and income from, any investment may fluctuate from day to day as a result of changes in relevant economic markets (including changes in market liquidity). The information herein is not intended to predict actual results, which may differ substantially from those reflected. Past performance is not necessarily indicative of future results. 
  • •            
  • •             You should not use or disclose to any other person the contents of this e-mail or its attachments (if any), nor take copies. This e-mail is not a representation or warranty and is not intended nor should it be taken to create any legal relations, contractual or otherwise. This e-mail and any files transmitted with it are confidential, may be legally privileged, and are for the sole use of the intended recipient. Copyright in this e-mail and any accompanying document created by Astor Ridge LLP is owned by Astor Ridge LLP. 
  • •            
  • •             Astor Ridge LLP is regulated by the Financial Conduct Authority (FCA):  Registration Number 579287
  • •             Astor Ridge LLP is Registered in England and Wales with Companies House:  Registration Number OC372185
  • •             Astor Ridge NA LLP is a member of FINRA/SIPC:  CRD Number 282626
  • •             Astor Ridge NA LLP is a member of the National Futures Association (NFA):  Firm ID Number 0499303
  • •             Astor Ridge NA LLP is Registered in England and Wales with Companies House:  Registration Number OC401796
  • •            
  • •            
  • •             If there is anything else you require from us to continue receiving our market communications, or prefer a different medium for access (e.g. publicly available password protected access on the Astor Ridge website), please do let me know.
  • •            
  • •             Otherwise, if you are more comfortable to deem consent by simply acknowledging receipt of this email, and continuing our trading relationship under our updated terms of business below, without registering your disapproval, we are happy to proceed on that basis.
  • •            
  • •             Many thanks,
  • •            
  • •             Chris

 

 

 

 


**LONGTERM PLAYERS PLEASE READ** SWAPS UPDATE : THESE LOOK LIKE CONFIRMING MULTI-YEAR TOPS SIMILAR TO THE BOND YIELD CHARTS.

**LONGTERM PLAYERS PLEASE READ** SWAPS UPDATE : THESE  LOOK LIKE CONFIRMING MULTI-YEAR TOPS SIMILAR TO THE BOND YIELD CHARTS.

THE DAILY CHARTS HAVE MIXED RSI'S BUT MONTHLY ARE VERY WELL DEFINED.

WE HAVE STARTED TO FORM "TOPS" ON ALL SWAPS STRATEGIES WITH SCOPE FOR MAJOR CORRECTIONS LOWER.

PREVIOUSLY :

ALL MONTHLY RSI'S REMAIN EXTREMLY STRETCHED THUS IS WE REVERSE IT WILL BE FOR SOME TIME!

BOTH THE US AND UK 1Y1Y STAND OUT THE MOST GIVEN THEY ARE BOTH AT MULTI YEAR RETRACEMENTS.

**LEVELS MAY VARY GIVEN THE USE OF LINE CHARTS**.*

 

 

ASTOR RIDGE : Independent Ideas, Research, Liquidity, Anonymity and Trusted Experience.

 

  • UK:         14-16 Dowgate Hill, London EC4R 2SU
  • US:          245 Park Ave, 39th Floor, NY, NY, 10167
  • Office:   +44 (0) 203 143 4174
  • Mobile:  +44 (0) 7980708683
  • Email:     chris.williams@astorridge.com
  • Web:       www.AstorRidge.com
  •  
  • •             I provide our research notification below for your convenience:
  • •            
  • •             Research Unbundling:
  • •            
  • •             Astor Ridge does not provide independent research. We have no dedicated or paid strategists, research portals, or research subscriptions. However, you may receive unsolicited marketing communications from our Introducing Brokers from time to time, which may refer to specific trade recommendations. These recommendations are based solely on the opinion of the author, and are not official research recommendations of Astor Ridge.We have considered guidance from ESMA, and any written material from our Introducing Brokers that might fall within the scope of the rules will be provided for free, and made publicly available on our website, to any EU Investment firm that registers for it.
  • •            
  • •             If you are a MiFID firm and do not agree with our approach, and instead believe that you must pay for written commentary or trade recommendations, then Astor Ridge will accept  payments determined by    you.
  • •            
  • •            
  • •            
  • •             I also direct you to our disclaimer on our email footer:
  • •             This marketing was prepared by Christopher Williams, a consultant with Astor Ridge.  It is not appropriate to characterize this e-mail as independent investment research as referred to in MiFID and that it should be treated as a marketing communication even if it contains a trade recommendation. A history of marketing materials and research reports can be provided upon request in compliance with the European Commission's Market Abuse Regulation.  Astor Ridge takes no proprietary trading risk, has no market making facilities, and has no position in any security we discuss in this e-mail.  The views in this e-mail are those of the author(s) and are subject to change, and Astor Ridge has no obligation to update its opinions or the information in this publication. If this e-mail contains opinions or recommendations, those opinions or recommendations reflect solely and exclusively those of the author, and such opinions were prepared independently of any other interests, including those of Astor Ridge and/or its affiliates. This publication does not constitute personal investment advice or take into account the individual financial circumstances or objectives of the those who receive it. The securities discussed herein may not be suitable for all investors. Astor Ridge recommends that investors independently evaluate each issuer, security or instrument discussed herein, and consult any independent advisors they believe necessary. The value of, and income from, any investment may fluctuate from day to day as a result of changes in relevant economic markets (including changes in market liquidity). The information herein is not intended to predict actual results, which may differ substantially from those reflected. Past performance is not necessarily indicative of future results. 
  • •            
  • •             You should not use or disclose to any other person the contents of this e-mail or its attachments (if any), nor take copies. This e-mail is not a representation or warranty and is not intended nor should it be taken to create any legal relations, contractual or otherwise. This e-mail and any files transmitted with it are confidential, may be legally privileged, and are for the sole use of the intended recipient. Copyright in this e-mail and any accompanying document created by Astor Ridge LLP is owned by Astor Ridge LLP. 
  • •            
  • •             Astor Ridge LLP is regulated by the Financial Conduct Authority (FCA):  Registration Number 579287
  • •             Astor Ridge LLP is Registered in England and Wales with Companies House:  Registration Number OC372185
  • •             Astor Ridge NA LLP is a member of FINRA/SIPC:  CRD Number 282626
  • •             Astor Ridge NA LLP is a member of the National Futures Association (NFA):  Firm ID Number 0499303
  • •             Astor Ridge NA LLP is Registered in England and Wales with Companies House:  Registration Number OC401796
  • •            
  • •            
  • •             If there is anything else you require from us to continue receiving our market communications, or prefer a different medium for access (e.g. publicly available password protected access on the Astor Ridge website), please do let me know.
  • •            
  • •             Otherwise, if you are more comfortable to deem consent by simply acknowledging receipt of this email, and continuing our trading relationship under our updated terms of business below, without registering your disapproval, we are happy to proceed on that basis.
  • •            
  • •             Many thanks,
  • •            
  • •             Chris

 

 

 

 


**PLEASE READ*** BOND YIELD MONTHLY AND QUARTERLY CHARTS : THE JUNE YIELD “TOP” IS CLOSE TO “FULL” CONFIRMATION.

BOND YIELD MONTHLY AND QUARTERLY CHARTS : THE JUNE YIELD “TOP” IS CLOSE TO “FULL” CONFIRMATION.

GIVEN THE TOPS TAKE TIME TO LOOK AT THE “RARE” RSI DISLOCATIONS AND THUS POTENTIAL SUBSTATIAL YIELD FAILURE.

THE MONTH IS NOT OVER BUT A LOWER YIELD CLOSE WILL HELP THE CAUSE AND THEN “EXPOSE” THE MONUMENTAL RSI DISLOCATIONS MANY GREATER THAN 2008!

PREVIOUSLY :

ALL CHARTS DEPICT A MAJOR REVERSAL-TOP SO FAR THIS MONTH SO VERY KEY.  IF WE DO TOP OUT THEN THE MOVE LOWER WILL BE “RAPID” AND FOR SOME TIME  TO COME.

US 5YR YIELDS HIT AND REJECT A 1962 YIELD LOW, PAGES 7&8, THIS COULD BE THE PERFECT TECHNICAL REJECTION!

CANADA HAVE ALL HIT AND REJECTED MULTI YEAR 38.2% RETRACEMENTS WITH NEVER BEFORE SEEN RSI’S.

**KEY CHARTS ARE** : US 30YR QUARTERLY, US 10YR MONTHLY, US 5YR QUARTERLY, CAD 10YR MONTHLY, UK 5YR MONTHLY. ALL CHARTS HAVE SIMILAR RSI EXTENSIONS MANY AT “NEVER” BEFORE SEEN LEVELS.

** WORTH A LOOK FOR THOSE LONGTERM PLAYERS **

 

 

ASTOR RIDGE : Independent Ideas, Research, Liquidity, Anonymity and Trusted Experience.

 

  • UK:         14-16 Dowgate Hill, London EC4R 2SU
  • US:          245 Park Ave, 39th Floor, NY, NY, 10167
  • Office:   +44 (0) 203 143 4174
  • Mobile:  +44 (0) 7980708683
  • Email:     chris.williams@astorridge.com
  • Web:       www.AstorRidge.com
  •  
  • •             I provide our research notification below for your convenience:
  • •            
  • •             Research Unbundling:
  • •            
  • •             Astor Ridge does not provide independent research. We have no dedicated or paid strategists, research portals, or research subscriptions. However, you may receive unsolicited marketing communications from our Introducing Brokers from time to time, which may refer to specific trade recommendations. These recommendations are based solely on the opinion of the author, and are not official research recommendations of Astor Ridge.We have considered guidance from ESMA, and any written material from our Introducing Brokers that might fall within the scope of the rules will be provided for free, and made publicly available on our website, to any EU Investment firm that registers for it.
  • •            
  • •             If you are a MiFID firm and do not agree with our approach, and instead believe that you must pay for written commentary or trade recommendations, then Astor Ridge will accept  payments determined by    you.
  • •            
  • •            
  • •            
  • •             I also direct you to our disclaimer on our email footer:
  • •             This marketing was prepared by Christopher Williams, a consultant with Astor Ridge.  It is not appropriate to characterize this e-mail as independent investment research as referred to in MiFID and that it should be treated as a marketing communication even if it contains a trade recommendation. A history of marketing materials and research reports can be provided upon request in compliance with the European Commission’s Market Abuse Regulation.  Astor Ridge takes no proprietary trading risk, has no market making facilities, and has no position in any security we discuss in this e-mail.  The views in this e-mail are those of the author(s) and are subject to change, and Astor Ridge has no obligation to update its opinions or the information in this publication. If this e-mail contains opinions or recommendations, those opinions or recommendations reflect solely and exclusively those of the author, and such opinions were prepared independently of any other interests, including those of Astor Ridge and/or its affiliates. This publication does not constitute personal investment advice or take into account the individual financial circumstances or objectives of the those who receive it. The securities discussed herein may not be suitable for all investors. Astor Ridge recommends that investors independently evaluate each issuer, security or instrument discussed herein, and consult any independent advisors they believe necessary. The value of, and income from, any investment may fluctuate from day to day as a result of changes in relevant economic markets (including changes in market liquidity). The information herein is not intended to predict actual results, which may differ substantially from those reflected. Past performance is not necessarily indicative of future results. 
  • •            
  • •             You should not use or disclose to any other person the contents of this e-mail or its attachments (if any), nor take copies. This e-mail is not a representation or warranty and is not intended nor should it be taken to create any legal relations, contractual or otherwise. This e-mail and any files transmitted with it are confidential, may be legally privileged, and are for the sole use of the intended recipient. Copyright in this e-mail and any accompanying document created by Astor Ridge LLP is owned by Astor Ridge LLP. 
  • •            
  • •             Astor Ridge LLP is regulated by the Financial Conduct Authority (FCA):  Registration Number 579287
  • •             Astor Ridge LLP is Registered in England and Wales with Companies House:  Registration Number OC372185
  • •             Astor Ridge NA LLP is a member of FINRA/SIPC:  CRD Number 282626
  • •             Astor Ridge NA LLP is a member of the National Futures Association (NFA):  Firm ID Number 0499303
  • •             Astor Ridge NA LLP is Registered in England and Wales with Companies House:  Registration Number OC401796
  • •            
  • •            
  • •             If there is anything else you require from us to continue receiving our market communications, or prefer a different medium for access (e.g. publicly available password protected access on the Astor Ridge website), please do let me know.
  • •            
  • •             Otherwise, if you are more comfortable to deem consent by simply acknowledging receipt of this email, and continuing our trading relationship under our updated terms of business below, without registering your disapproval, we are happy to proceed on that basis.
  • •            
  • •             Many thanks,
  • •            
  • •             Chris