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Challenging Week Ahead

July 31, 2021
Three macro considerations are shaping the investment climate: the evolution of the virus and the response, the timeframe of the Fed's tapering, and China's broad regulatory crackdown. Beijing's new policy initiatives are broader and quicker than generally anticipated.  Officials seem to be opening up several different fronts, includin…
Challenging Week Ahead Challenging Week Ahead Reviewed by Marc Chandler on July 31, 2021 Rating: 5
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Risk Appetites Start the Weekend Early

July 30, 2021
Overview: Disappointing revenue and sales figures by Amazon shortly after the US close yesterday set the tone for today's equity sell-off. Many large markets in the Asia Pacific area fell by more than 1%, including Japan, Hong Kong, South Korea, and New Zealand.  New lockdown measures around the capital sent the Philippines bourse down nearly …
Risk Appetites Start the Weekend Early Risk Appetites Start the Weekend Early Reviewed by Marc Chandler on July 30, 2021 Rating: 5
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Chinese Officials Calm Markets

July 29, 2021
Overview:  More constructive signals from Chinese officials and a Federal Reserve that is gradually moving toward slowing its bond purchases have had a beneficial impact on the risk-appetites.  Led by a 3% recovery in the Hang Seng, the large equity markets in the Asia Pacific region advanced after the MSCI benchmark recorded the lows for the year…
Chinese Officials Calm Markets Chinese Officials Calm Markets Reviewed by Marc Chandler on July 29, 2021 Rating: 5
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Fed Day

July 28, 2021
Overview:  China's aggressive campaign has exploded on the international stage to become a major market force.  The Shanghai and Shenzhen Composites fell, but the CSI 300 managed to post a small gain after it extended its loss to around 21.5% from the February high.  The China-inspired losses saw the MSCI Asia Pacific Index fall to new lows fo…
Fed Day Fed Day Reviewed by Marc Chandler on July 28, 2021 Rating: 5
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China Sends Ripples Across the Markets

July 27, 2021
Overview: It is not China's aggressive foreign policy that is the source of the disturbance in the capital markets, but its aggressiveness at home as it asserts control parts of the tech sector and toughens its anti-trust efforts.  Hong Kong shares are bearing the brunt.   The Hang Seng has fallen by 10% in the three sessions, including today.…
China Sends Ripples Across the Markets China Sends Ripples Across the Markets Reviewed by Marc Chandler on July 27, 2021 Rating: 5
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Greenback Starts Big Week Softer

July 26, 2021
Overview:  The price action in the foreign exchange and bond markets has been consistent with the risk-off narrative, spurred arguably by the surge in Delta mutation of the virus.  However, equity markets were less consistent with it.  Last week's weakness in the MSCI Asia Pacific Index seemed to be partly driven by Beijing's crackdown on …
Greenback Starts Big Week Softer Greenback Starts Big Week Softer Reviewed by Marc Chandler on July 26, 2021 Rating: 5
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Stretched Dollar Remains Firm

July 25, 2021
The US dollar was strong last week, even though it ended up slightly lower against the Canadian dollar. Sterling fell to new six-month lows while the euro recorded its lowest level since late March, and the Australian dollar fell to new lows for the year.  Led by a 2% fall in the South African rand, with the bulk of the sell-off coming after the c…
Stretched Dollar Remains Firm Stretched Dollar Remains Firm Reviewed by Marc Chandler on July 25, 2021 Rating: 5
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Lower for Longer

July 24, 2021
The Delta variant of the virus has emerged as an important economic force, just as more countries appeared to adopt the attitude that we should now live with it like we do with the flu, which kills hundreds of thousands every year.  While the existing vaccines seem to have lost some of their ability to prevent the illness, they remain a power prop…
Lower for Longer Lower for Longer Reviewed by Marc Chandler on July 24, 2021 Rating: 5
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New Record Cases in Sydney Casts a Pall over Australia

July 23, 2021
Overview: The combination of the dovish ECB's forward guidance and the unexpected rise in weekly US jobless claims to a two-month high sent bond yields tumbling.  The US 10-year pulled back from 1.30%, and benchmark yields in the eurozone fell to new 3-4 month lows. The $16 bln 10-year TIPS auctioned yesterday resulted in a record low yield of…
New Record Cases in Sydney Casts a Pall over Australia New Record Cases in Sydney Casts a Pall over Australia Reviewed by Marc Chandler on July 23, 2021 Rating: 5
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