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EMU August CPI at 9.1%, while the Core Rate Jumps to 4.3%

August 31, 2022
Overview: The rise in global interest rates continues. The US 10-year yield is a few basis points near 3.15% and European benchmarks are mostly 5-6 bp higher. Of note, the sharp sell-off in UK Gilts has being extended. Yesterday’s 10 bp rise has been followed by another 14 bp surge today. Italian bonds are also getting hit. The 10-year yield is up…
EMU August CPI at 9.1%, while the Core Rate Jumps to 4.3% EMU August CPI at 9.1%, while the Core Rate Jumps to 4.3% Reviewed by Marc Chandler on August 31, 2022 Rating: 5
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Turn Around Tuesday Began Yesterday, Likely Ends before Wednesday

August 30, 2022
Overview: Corrective pressures were evident yesterday and they extended today in Asia and Europe but seem to be running their course now. Market participants should view these developments as countertrend and be wary of waning risk appetites in North America today. Most Asia Pacific equities rallied earlier today, save China and Hong Kong. Europe’…
Turn Around Tuesday Began Yesterday, Likely Ends before Wednesday Turn Around Tuesday Began Yesterday, Likely Ends before Wednesday Reviewed by Marc Chandler on August 30, 2022 Rating: 5
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Stocks and Bonds Sell Off, while the Dollar Rallies

August 29, 2022
Overview: The reverberations from last week continue to roil the capital markets today. Equities and bonds have been sold and the greenback bought. Most of the large markets in Asia Pacific fell by more 2%, including Japan’s Nikkei, Taiwan’s Taiex, and South Korea’s Kospi. Ironically, the Shanghai and Shenzhen Composites eked out minor gains, but …
Stocks and Bonds Sell Off, while the Dollar Rallies Stocks and Bonds Sell Off, while the Dollar Rallies Reviewed by Marc Chandler on August 29, 2022 Rating: 5
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The Week Ahead: Dollar Bulls Still in Charge

August 27, 2022
The poor preliminary PMI readings, the ongoing European energy crisis, and the recognized commitment of most major central banks to rein in prices through tighter financial conditions are risking a broad recession. These considerations are weighing on sentiment and shaping the investment climate. Most high-frequency data due in the days ahead will…
The Week Ahead: Dollar Bulls Still in Charge The Week Ahead: Dollar Bulls Still in Charge Reviewed by Marc Chandler on August 27, 2022 Rating: 5
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Jackson Hole and More

August 26, 2022
Overview: Ahead of the much-anticipated speech by Federal Reserve Chair Powell, the Fed funds futures are pricing in about a 70% chance of a 75 bp hike next month.  The US 10-year yield is up nearly five basis points today to 3.07% and the two-year yield is firm at 3.38%.  Asia Pacific equities were mostly higher, with China the main exception amo…
Jackson Hole and More Jackson Hole and More Reviewed by Marc Chandler on August 26, 2022 Rating: 5
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Dollar Longs Pared as Jackson Hole Gathering is set to Start

August 25, 2022
Overview: It seems that many market participants had the same thing in mind, cut dollar longs before the Jackson Hole gathering. The Antipodeans lead the majors move, encouraged perhaps by China’s new economic measures, with around a 1% gain. The euro and sterling are up about 0.35% and are the laggards. Emerging market currencies are higher as we…
Dollar Longs Pared as Jackson Hole Gathering is set to Start Dollar Longs Pared as Jackson Hole Gathering is set to Start Reviewed by Marc Chandler on August 25, 2022 Rating: 5
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New Recession Worry Stalls Dollar Express but Doesn't Derail It

August 24, 2022
Overview:  A simply dreadful flash US PMI stopped the dollar's four-day rally in its tracks. It followed news that the eurozone, Japan, and Australia's composite PMIs are below the 50 boom/bust level. However, the dollar recovered, even if not fully as the market seemed unconvinced that the data could change Fed Chair Powell's message …
New Recession Worry Stalls Dollar Express but Doesn't Derail It New Recession Worry Stalls Dollar Express but Doesn't Derail It Reviewed by Marc Chandler on August 24, 2022 Rating: 5
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