The economic calendar and central bank meeting diaries are busier in the week ahead. The highlights include three G7 central bank meetings (the Bank of Japan, the Bank Canada, and the European Central Bank), Chinese Q2 GDP, and the first look at US July survey data (Empire and Philadelphia Fed). The US also reports June …
Macro Dynamic Remains the Same but the Calendar gets Busy Read More »
Overview: After several days of aggressive risk-taking, investors are pausing ahead of the ECB meeting. Equities were mostly higher in the Asia Pacific region, though China was mixed, and Indian shares slipped. Europe’s Dow Jones Stoxx 600 is snapping a five-day advance, and US shares are trading with a heavier bias. The S&P 500 gapped higher …
Overview: Two recent trends continue. Equities are moving higher, and the dollar remains heavy. Equity markets in the Asia Pacific region rose at least one percent, and South Korea, Singapore, and Malaysia rallied 2-3%. Europe’s Dow Jones Stoxx 600 is up more than 1% for the third consecutive session. US shares are trading higher and are …
Overview: The retreat in US stocks yesterday, coupled with disappointing earnings news, has sent equity markets lower today. However, the May Day holiday has closed most markets, warning of spill-over at the start of next week, though China’s markets are closed through next Tuesday and Japan through next Wednesday. In the Asia Pacific region, only two …
Overview: The 4.2% rally in the S&P 500 yesterday helped lift Asia Pacific markets earlier today, and the five basis point backing up of the US 10-year yield pushed regional yields higher. However, the coattails proved short, and Europe’s Dow Jones Stoxx 600 is snapping a three-day advance and is off about 1.3% in late morning …
Overview: The G7 delivered up a nothing burger than was shortly followed by a 50 bp Fed cut. The equity market seemed to enjoy it briefly and extended Monday’s dramatic gains, before falling out of bed. The S&P 500 lost about 2.2%, while the Dow Industrial slumped 3%, but shortly after the markets closed, equities …
Equities Trade Higher, While Yields Continue to Fall Read More »
The coronavirus that originated in China has sent into motion large financial and economic forces that are dominating the investment landscape. The first line of defense was to contain the virus in China, but the largest lockdown in history did not work. The next line of defense was Japan, South Korea, Italy, and Iran. This …
Economists become Virologists as Markets Sicken Investors Read More »
Overview: The new week is off to a quiet start as the US celebrates Martin Luther King’s birthday, and investors look for a fresh focus. Hong Kong and Indian markets were suffered modest declines while most of the other large Asia Pacific markets edged higher. European stocks are trading a little lower, and the Dow Jones …
The US dominated the news stream at the start of 2020. The spasm in the US-Iran confrontation has quickly subsided. The much-heralded US-China Phase 1 trade deal has been signed. The US has completed the ratification process of the US Mexico Canada Free-Trade Agreement. The early signs from the economic entrails suggest the world’s largest …
Overview: The equity and bond rally in North America yesterday carried over into today’s session. With some notable exceptions, like China, Taiwan, Australia, and Indonesia, most bourses in Asia Pacific and Europe traded higher. US shares are little changed in early Europe after the S&P 500 rose to new record highs. The US 10-year Treasury …