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Beware the Ides of March

February 28, 2017
T.S. Eliot tells us that April is the cruelest month.  A great poet he was, but a trader he was not.  Caesar was warned about the Ides of March, and investors may find the caution to be particular apropos now.   Consider the congestion of events around March 15. 
A few days before, March 9 is ECB meeting.  Although no policy change is likely, the p…
Beware the Ides of March Beware the Ides of March Reviewed by Marc Chandler on February 28, 2017 Rating: 5
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Markets Little Changed as Breakout is Awaited

February 28, 2017
The capital markets are becalmed, and the US dollar is in narrow trading ranges.  Month-end considerations are at work, but the key event is much-awaited speech US President Trump to a joint session of Congress this evening (early Wednesday in Asia).   The hope is that he provides the policy signals that allow the dollar to break out of its recent…
Markets Little Changed as Breakout is Awaited Markets Little Changed as Breakout is Awaited Reviewed by Marc Chandler on February 28, 2017 Rating: 5
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The Misplaced Animosity toward Imports

February 27, 2017
The mercantilist inclination by the Trump Administration makes it seem as if exports are good and create jobs and imports are bad and cost jobs. This is simply not true.  This assessment is not based on newfangled thinking about trade.  Rather Adam Smith argued against such a view in his 1776 bestseller, An Inquiry into the Nature and Causes of th…
The Misplaced Animosity toward Imports The Misplaced Animosity toward Imports Reviewed by Marc Chandler on February 27, 2017 Rating: 5
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Asia Stumbles, Europe Recovers, Waiting for Trump

February 27, 2017
The late recovery in US equities before the weekend did little good for Asian markets.  Nearly all the Asian equity markets moved lower, led by the 1.0% decline in Japan's Topix.  It was the third successive loss for the Topix, which is the long losing streak of the year so far.   The MSCI Asia Pacific Index lost 0.6%, further pushing it off t…
Asia Stumbles, Europe Recovers, Waiting for Trump Asia Stumbles, Europe Recovers, Waiting for Trump Reviewed by Marc Chandler on February 27, 2017 Rating: 5
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