Argentina

Oil Drilled Below Zero, Equity Rally Stalls, Greenback Advances

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Overview:  Oil’s wild ride has been joined by two other developments that are keeping investors off-balance. First, reports suggest that North Korea’s Kim Jong-Un maybe in critical condition after surgery. He apparently was absent from last week’s events celebrating his grandfather. The concern is about a potential power vacuum and the command and control of North …

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Sterling Continues to Unwind Election Gains

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Overview:  In light volume, equities are trading with a heavier bias, bonds are mostly firm, and the dollar is softer against the major currencies.  China’s equities standout with the Shanghai Composite falling over 1%.  South Korea, Australia, and Indian markets eased, but most of the smaller bourses gained. Japanese benchmarks were mixed.  Europe’s Dow Jones Stoxx …

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US Brandishes Tariff Weapon and Weakens Animal Spirits

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Overview: Asia Pacific equities mostly declined in sympathy with yesterday’s large sell-off in the US and Europe. China and Taiwan were the notable exceptions, while Australia’s 2.2% decline, following the central bank meeting that resulted in what many are seeing as a hawkish hold, led the move lower. Europe’s Dow Jones Stoxx 600 fell 1.6% yesterday, …

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Yen Remains Bid, While Macri’s Loss in Argentina Weighs on Struggling Mexican Peso

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Overview:  China again tried to temper the downside pressure on the yuan, and this appears to be helping the risk-taking attitude.  Many centers in Asia were closed today, including Japan and India, though most of the other equity markets advanced modestly, including China, Korea, and Australia.  Europe’s Dow Jones Stoxx 600 opened firmer but is staddling …

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