Edit

Two Brinkmanship Games and a Possible Third

January 31, 2019
Some historians give Adlai Stevenson credit for inventing the word "brinkmanship" as part of his criticism of US foreign policy under Dulles, who said that "if you are scared of going to the brink, you lost."  But surely we can agree that the tactic is as old as civilization.  
The idea is you take the issue to the very edge, …
Two Brinkmanship Games and a Possible Third Two Brinkmanship Games and a Possible Third Reviewed by Marc Chandler on January 31, 2019 Rating: 5
Edit

Did Powell Toss in the Towel or was it a Tactical Retreat?

January 31, 2019
Overview: The Fed's dovish tone and earnings news are the main drivers of the capital markets today, helping lift stocks, bonds, and currencies.  Large equity markets in Asia, including Japan, Hong Kong, China's CSI 300, India, and Indonesia, all rose more than 1%, putting the MSCI Asia Pacific Index in a good position to extend its rally …
Did Powell Toss in the Towel or was it a Tactical Retreat? Did Powell Toss in the Towel or was it a Tactical Retreat? Reviewed by Marc Chandler on January 31, 2019 Rating: 5
Edit

Powell's Mao Moment

January 30, 2019
In the iconography of Mao, some see pictures of the Chairman showing both ears as signaling that he was listening to all the people.  In this sense, Powell had his Mao moment.   He listened to the market. 
He has been struggling to find the right message for the market.  The Fed has not changed what it is doing.   It has changed its rhetoric.  
T…
Powell's Mao Moment Powell's Mao Moment Reviewed by Marc Chandler on January 30, 2019 Rating: 5
Edit

She Can't Accept No

January 30, 2019
Overview: The UK Prime Minister has two weeks to strike a new deal with the EC over the Irish backstop or return to Parliament in mid-February to consider alternatives, six weeks before Brexit.  Sterling has recovered about half of yesterday's drop.  The Australian dollar jump back to $0.7200 was aided by the nearly 10% jump in iron ore price …
She Can't Accept No She Can't Accept No Reviewed by Marc Chandler on January 30, 2019 Rating: 5
Edit

Fragile Tone Persists

January 29, 2019
Overview: The positive impulse in the capital markets seen last week has faded.  The gap higher opening ahead of the weekend by the S&P 500 was follow by a gap lower opening yesterday.  The US threatened crackdown on Huawei disrupted equities in that sector, with as many as two dozen companies on the Shenzhen exchange that were limit down (10%…
Fragile Tone Persists Fragile Tone Persists Reviewed by Marc Chandler on January 29, 2019 Rating: 5
Edit

Cool Video: Bloomberg Clip US Growth in Relative Terms

January 28, 2019
With a jam-packed week for investors, and several high profile earnings reports, first look at Q4 GDP, the resumption of US-China trade talks, the FOMC meeting, and US jobs, it was a good time to be invited on the set of Bloomberg TV, with David Westin and Lisa Abramowicz.  The clip here is with Matt Winkler, Editor-in-Chief Emeritus.
Winkler has …
Cool Video: Bloomberg Clip US Growth in Relative Terms Cool Video: Bloomberg Clip US Growth in Relative Terms Reviewed by Marc Chandler on January 28, 2019 Rating: 5
Edit

Getting Ducks Lined Up for Later in the Week

January 28, 2019
Overview: The global capital markets are consolidating ahead of this week's big events, which include the FOMC meeting, US jobs, an important Brexit vote in the UK parliament and the first look at Q4 EMU and US GDP.  The US dollar is narrowly mixed.  Equities are mostly lower.  European benchmark 10-year yields have edged up, though the US 10-…
Getting Ducks Lined Up for Later in the Week Getting Ducks Lined Up for Later in the Week Reviewed by Marc Chandler on January 28, 2019 Rating: 5
Edit

Dollar's Downside Reversal may set Tone for the Week Ahead

January 27, 2019
The US dollar entered the last trading session of the week with modest gains against most of the major currencies but sterling and the yen.  The upticks were surrendered in full, and the greenback finished the week in the red across the board.  Technically it looks vulnerable, which fits into our macro-view where the focus turns back to the US.  …
Dollar's Downside Reversal may set Tone for the Week Ahead Dollar's Downside Reversal may set Tone for the Week Ahead Reviewed by Marc Chandler on January 27, 2019 Rating: 5
Edit

Divergence Reinvigorated

January 26, 2019
Last week the focus was on Europe.  Prospects of a delay in Brexit helped extend sterling's gains to 11-week highs.  Disappointing flash PMI for the eurozone and a dovish Draghi pushed the euro below $1.13 for the first time since mid-December.  
Speculation that the Reserve Bank of Australia would be forced to cut interest rates saw the Austr…
Divergence Reinvigorated Divergence Reinvigorated Reviewed by Marc Chandler on January 26, 2019 Rating: 5
Edit

Euro Pares Yesterday's Losses and Sterling Pulls Back after topping $1.31

January 25, 2019
Overview:  The US dollar is paring yesterday's gains against most of the major and emerging market currencies. Sterling pushed above $1.31, an 11-week high on news that the DUP would support Prime Minister's Plan B that calls for limits on the backstop with Ireland, something that the EC and Ireland have indicated are not on the table.  Gl…
Euro Pares Yesterday's Losses and Sterling Pulls Back after topping $1.31 Euro Pares Yesterday's Losses and Sterling Pulls Back after topping $1.31 Reviewed by Marc Chandler on January 25, 2019 Rating: 5
Subscribe to: Posts ( Atom )
Powered by Blogger.