Archive for January, 2016
Thursday, January 7th, 2016
Via Robert Sinche at Amherst Pierpont Securities:
For those of us who remember the infamous BW covers – The Death of Equities in 1979, (Apple) The Fall of an American Icon in 1996, etc and the talk by celebrities of getting paid in Euros in July 2008, right at the peak…one ...
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Thursday, January 7th, 2016
Via Robert Sinche at Amherst Pierpont Securities:
CHINA: the monthly CPI and PPI reports are expected to show more of the same, with the BBerg consensus expecting the CPI to inch up to 1.6% YOY in December from 1.5% while the PPI falls -5.8% YOY, which would be the 46th consecutive ...
Posted in Uncategorized | Comments Off on Overnight Data Preview
Thursday, January 7th, 2016
Via TDSecurities:
TD Securities
USDJPY: End of the Line
§ After a rally spanning over three years, we think the next sustained move for USDJPY will be lower. We think the June 2015 high should hold as the last year’s narrow range breaks down. Indeed, with USDJPY sharply lower in recent days, this process ...
Posted in Uncategorized | Comments Off on A Yen to Sell Dollar Yen
Thursday, January 7th, 2016
Via CRT Capital (an excerpt from their longer morning note):
OVERNIGHT FLOWS: Treasuries rallied modestly on the back of lower global equities. Overnight volumes were particularly strong with cash trading at 427% of the 10-day moving-average for the most active session since mid-August. TY came in at 412% of the norm ...
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Thursday, January 7th, 2016
Interesting note from Chris Low at FTN Financial:
Yesterday, Fed Vice Chairman Fischer told CNBC the market is wrong to price in just two rate hikes in 2016. “Four is in the ballpark,” he said.
But the minutes suggest some FOMC members do not think the case is as cut and dried. ...
Posted in Uncategorized | Comments Off on Oil Undermining FOMC
Thursday, January 7th, 2016
Via Marc Chandler at Brown Brothers Harriman:
Dollar Mixed as Risk Off Takes Hold
- The uncertainty over the intentions of Chinese policy makers, and the opaqueness of the decision-making process, rightfully spooks investors who recall the contagion effect last August
- The drop in oil prices is a significant ...
Posted in Uncategorized | Comments Off on FX
Thursday, January 7th, 2016
Via Bloomberg:
Global markets are facing a crisis and investors need to be very cautious, billionaire George Soros told an economic forum in Sri Lanka on Thursday.
China is struggling to find a new growth model and its currency devaluation is transferring problems to the rest of the world, Soros said in ...
Posted in Uncategorized | Comments Off on Soros on Similarity of Current Situation to 2008
Thursday, January 7th, 2016
Via the WSJ:
By Georgi Kantchev and
Jenny W. Hsu
Updated Jan. 7, 2016 5:27 a.m. ET
0 COMMENTS
LONDON—Oil prices plunged to levels not seen in more than a decade on Thursday, hammered by the continuing turmoil in China, the world’s second biggest oil consumer.
China’s stock market tumbled and suffered its shortest trading day ...
Posted in Uncategorized | Comments Off on ” Encumbered By Unrelenting Oversupply”
Thursday, January 7th, 2016
Another dealer reporting chunky central bank selling of 2s and 3s in overnight session.
Posted in Uncategorized | Comments Off on More Treasury Flow
Thursday, January 7th, 2016
One interesting point to me is that European peripherals are not trading well. I watch 10 year Spain and Italy on a WSJ Market Data page and Italy is 5/32 lower and Spain is 8/32 lower. I assume that is from prior day closes. I regularly follow the spread of ...
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