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Is Globalization more than Tax Arbitrage? Follow the People not the Money

December 10, 2019
The use of low-tax centers by multinational companies as part of tax minimization strategies distorts measures of capital flows and direct investment, which are integral to globalization.  Last year, for example, Microsoft shifted $52.8 bln of assets from Singapore to Ireland in a few pen and computer strokes.  The Dublin-based entity, the company…
Is Globalization more than Tax Arbitrage? Follow the People not the Money Is Globalization more than Tax Arbitrage? Follow the People not the Money Reviewed by Marc Chandler on December 10, 2019 Rating: 5
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Capital Markets: Still Seems to be the Calm before the Storm

December 10, 2019
Overview: Equities are trading lower, and bonds are mixed as the FOMC, UK election, and the US decision on the December 15 tariffs draw near. The MSCI Asia Pacific Index three-day rally ended today as only China and South Korea's markets rose. Europe's Dow Jones Stoxx 600 gapped slightly lower at the open. The upside momentum has faltered,…
Capital Markets: Still Seems to be the Calm before the Storm Capital Markets: Still Seems to be the Calm before the Storm Reviewed by Marc Chandler on December 10, 2019 Rating: 5
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China's Steps-Up Import Substitution Strategy while USMCA Comes Down to the Wire China's Steps-Up Import Substitution Strategy while USMCA Comes Down to the Wire Reviewed by Marc Chandler on December 09, 2019 Rating: 5
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A Look at the Charts Ahead of UK Election and US Tariff Decision

December 08, 2019
The strength of the US jobs report stopped the weaker dollar that was threatening to emerge.  There are two risk events in the second half of next week, the UK election and Trump's decision on the December 15 tariffs.  The market expects a Tory victory, allowing Brexit to proceed, and for the US to at least postpone the new tariffs. A surprise…
A Look at the Charts Ahead of UK Election and US Tariff Decision A Look at the Charts Ahead of UK Election and US Tariff Decision Reviewed by Marc Chandler on December 08, 2019 Rating: 5
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An Eventful Week Ahead

December 07, 2019
The US employment report on the first Friday of December usually marks the unofficial end of the year.  The desks are often lighter and dealers are loath to jeopardize the year’s bonuses in thin and often erratic markets.  This year is an exception.  Next week features the first ECB meeting with Lagarde at the helm and the final FOMC meeting of th…
An Eventful Week Ahead An Eventful Week Ahead Reviewed by Marc Chandler on December 07, 2019 Rating: 5
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And Now for the Employment Report

December 06, 2019
Overview: Asia Pacific equities closed higher today, with India being a notable exception. Hong Kong and South Korea led with 1% rallies. For the week, the MSCI index for the region advanced to snap a three-week decline. European and US bourses have not fared as well. The Dow Jones Stoxx 600 is paring this week's losses, but it is still off ar…
And Now for the Employment Report And Now for the Employment Report Reviewed by Marc Chandler on December 06, 2019 Rating: 5
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Sterling Sent Higher as Market Discounts Next Week's Election

December 05, 2019
Overview: Global equity markets have resumed their climb after a wobble at the end of last week and earlier this week. A strong recovery in the S&P 500 on Tuesday signaled yesterday's strong advance that left a bullish one-day island low in its wake. MSCI Asia Pacific Index snapped a two-day decline today with nearly all the market with th…
Sterling Sent Higher as Market Discounts Next Week's Election Sterling Sent Higher as Market Discounts Next Week's Election Reviewed by Marc Chandler on December 05, 2019 Rating: 5
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Hope Springs Eternal

December 04, 2019
Overview: The prospect of not just the failure of the US and China to resolve its trade dispute but a new escalation has sapped the confidence that had lifted equity benchmarks and the greenback. Led by more than a 1% decline in Tokyo (Nikkei), Hong Kong, and Australia, all the major markets in the Asia Pacific region fell. European shares, perhap…
Hope Springs Eternal Hope Springs Eternal Reviewed by Marc Chandler on December 04, 2019 Rating: 5
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