Overview: Global equity markets are stabilizing today, and the dollar is once again on its back foot. Chinese markets led a mixed regional performance with a 2%-3% gain, while South Korea and Hong Kong markets also advancing. The strength of the yen appears to weigh on Japanese shares. The Nikkei fell for the fourth consecutive …
Overview: The main development in the capital markets today is the firmer dollar against nearly all the major and emerging market currencies. Among the majors, the New Zealand dollar and Swedish krona are the heaviest (~-0.4%), while the Swiss franc and yen are marginally lower. In the emerging market space, the liquid and accessible currencies, like …
Dollar Bounces, Gold Slips, while Equities Hold Their Own Read More »
Overview: Despite somber warnings that the US economic recovery can stretch to the end of next year, investors have begun the new week by taking on new risks. Most equity markets in the Asia Pacific region rose, with Australia leading the large bourses with a 1% gain. India was an outlier, suffering a 2.4% loss, and …
Overview: Investor optimism is reflected by the risk-taking appetite that is lifting equity markets and bond yields. With Japanese markets closed for a national holiday, the MSCI Asia Pacific Index was led higher by more than 1% gains in Hong Kong, Taiwan, South Korea, and Thailand. The regional benchmark advanced for the seventh session in the …
Overview: Disappointing economic data again drove US equities lower, which in turn carried into Asia Pacific activity. Losses were recorded throughout the region, with the notable exception of Hong Kong. The Nikkei and Australia’s ASX were off by 2%. After its largest losing session of the year (-2.7%) yesterday, Europe’s Dow Jones Stoxx 600 continues to …
Overview: As the quarter ends, the capital markets are mixed. Equities in Asia Pacific were heavier, except in Hong Kong and Australia, while shares were mixed, leaving the Dow Jones Stoxx 600 little changed through the European morning. US shares are trading firmer. Benchmark 10-year bond yields are 2-3 basis points higher, though Australia’s bond yield …
Overview: The markets are digesting ECB’s actions and an easing in US-Chinese rhetoric. Next week features the FOMC meeting and three other major central banks (Japan, Switzerland, and Norway). The US equity rally that saw the S&P 500 edge closer to the record high set in late July spilled over to lift Asian markets. Chinese …
Bonds and the Dollar Remain Heavy Ahead of the Weekend Read More »
The US dollar closed lower against all the major currencies last week but the Japanese yen. The Swiss franc’s 0.25% gain was the smallest of the majors. The move against the dollar was led by the Swedish krona, whose 2% gain was aided by a less dovish than expected central bank. Other currencies, like the …
Overview: A showdown between UK Prime Minister Johnson and Parliament over Brexit pushed sterling below $1.20. The euro is extended its losses after finishing last week below $1.10. Growth concerns are seeing equities retreat. Japanese and Chinese shares managed to eke out gains, but the Asia Pacific and European stocks have been sold. The Dow …
Overview: The market was finding its sea legs after being hit with wave and counter-wave following the FOMC decision, and more importantly, Powell’s attempt to give insight into the Fed’s thinking. Trump’s tweet than signaled an end to the tariff truce with a 10% levy on the $300 bln of imports from China that have …