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Stock Slide Continues

January 24, 2022
Overview: Equity markets are fragile after last week's rout, while bond markets have extended their recovery.  The dollar is mostly firmer to start the new week.  Japan, China, and Taiwan saw equities advance, but not enough to offset weakness elsewhere, and the MSCI Asia Pacific Index was off around 0.75%.  It fell by 1.7% last week.  Europe&…
Stock Slide Continues Stock Slide Continues Reviewed by Marc Chandler on January 24, 2022 Rating: 5
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A Couple of False Breaks and a New Four-Year High in the Yuan

January 23, 2022
The US dollar broke higher against the yen to start the year.  It traded up to JPY116.35, its highest level in five year.  However, within a few days it became clear that it was a false breakout.  The dollar moved back within its old range (~JPY113-JPY115 +/- 0.5 yen).  Indeed, the greenback finished last week near JPY113.65.  Ok, if the dollar is…
A Couple of False Breaks and a New Four-Year High in the Yuan A Couple of False Breaks and a New Four-Year High in the Yuan Reviewed by Marc Chandler on January 23, 2022 Rating: 5
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Three Events Dominate the Week Ahead and the FOMC Meeting may Not be the Most Important Three Events Dominate the Week Ahead and the FOMC Meeting may Not be the Most Important Reviewed by Marc Chandler on January 22, 2022 Rating: 5
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Ugly Friday

January 21, 2022
Overview: The reversal in US equities yesterday set the tone for today.  Among the large bourses, only Hong Kong escaped the pain today. It was the sixth session of the past seven that the MSCI Asia Pacific Index fell.  Today's 1.3% retreat in the Stoxx 600 brings it lower for the week, and third consecutive weekly loss.  US indices closed on …
Ugly Friday Ugly Friday Reviewed by Marc Chandler on January 21, 2022 Rating: 5
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HK Rallies and PBOC Cuts, US Stocks Stabilize

January 20, 2022
Overview:  Amid inflation fears and the decline in crypto prices, gold was resurrected, rallying the most in three months yesterday to its best level since November.  It is consolidating those gains today, straddling the $1840 level.  Equities are trying to stabilize.  The MSCI Asia Pacific Index snapped a five-day slide with a 1% gain helped by a…
HK Rallies and PBOC Cuts, US Stocks Stabilize HK Rallies and PBOC Cuts, US Stocks Stabilize Reviewed by Marc Chandler on January 20, 2022 Rating: 5
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Dollar Comes Back Offered

January 19, 2022
Overview:  The interest rate adjustment continues as the US 10-year Treasury yield firmed to test 1.90%, and the 2% target comes into view.  The German 10-year yield poked above zero for the first time since May 2019 and is straddling the area now. A bigger than expected rise in UK inflation lifted the 10-year Gilt yield to 1.3%, its highest level…
Dollar Comes Back Offered Dollar Comes Back Offered Reviewed by Marc Chandler on January 19, 2022 Rating: 5
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Equities and Bonds Sell-Off

January 18, 2022
Overview:  Surging yields and plummeting equities are the main developments today.   The US 10-year yield pushed above 1.80% and the two-year yield is above 1% for the first time since February 2020.  European yields are pulling back after jumping 2-5 bp.  The MSCI Asia Pacific Index is off for the fourth consecutive session.  Only Shanghai among …
Equities and Bonds Sell-Off Equities and Bonds Sell-Off Reviewed by Marc Chandler on January 18, 2022 Rating: 5
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PBOC Eases, but the Yuan Firms

January 17, 2022
Overview:  Russia is thought to be behind the cyber-attack on Ukraine at the end of last week, but a military attack over the weekend may be underpinning risk appetites today.  The dollar's pre-weekend gains are being pared slightly.  Led by the Canadian dollar and Norwegian krone, the greenback is lower against most major currencies, with the…
PBOC Eases, but the Yuan Firms PBOC Eases, but the Yuan Firms Reviewed by Marc Chandler on January 17, 2022 Rating: 5
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