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Apple's Warning Weighs on Sentiment

February 18, 2020
Overview: Apple's warning that it will miss Q1 revenue due to the knock-on effects of the coronavirus seemed to be a modest wake-up call to investors, who, judging from the equity market, were looking beyond. Equities have fallen, and bonds have rallied. Japan, Hong Kong, and South Korean stocks fell by more than 1%, and only China and Indones…
Apple's Warning Weighs on Sentiment Apple's Warning Weighs on Sentiment Reviewed by Marc Chandler on February 18, 2020 Rating: 5
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Dismal Q4 Japanese GDP Fails to Spur Yen Movement

February 17, 2020
Overview: It is only a US holiday today, but the global capital markets are subdued. In the Asia-Pacific region, equities traded lower with China and Hong Kong, the main advancers. The MSCI Asia Pacific Index has fallen in only two weeks since the end of last November, and that was during the last two weeks of January. Europe's Dow Jones Stoxx…
Dismal Q4 Japanese GDP Fails to Spur Yen Movement Dismal Q4 Japanese GDP Fails to Spur Yen Movement Reviewed by Marc Chandler on February 17, 2020 Rating: 5
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Strong Dollar Optics, Less Clear-Cut Details

February 16, 2020
The dollar's performance last week is best understood as the fulcrum of the seesaw.  The major currencies that are perceived to be levered or growth and/or risk rose.  These are the dollar-bloc and the Scandis. The Swedish krona sold off before the weekend, perhaps as the market anticipates a weak CPI report that may reinforce ideas that the r…
Strong Dollar Optics, Less Clear-Cut Details Strong Dollar Optics, Less Clear-Cut Details Reviewed by Marc Chandler on February 16, 2020 Rating: 5
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Markets are Data-Driven, but which Data?

February 15, 2020
Like a Newtonian law of motion, market participants will continue to rely on a particular trading style or system until it stops working. Betting that volatility stays low is a cash register for many, and there appears to be what Soros called "reflexivity" here, like a self-fulfilling prophecy.  Why is volatility low?  Because it is bein…
Markets are Data-Driven, but which Data? Markets are Data-Driven, but which Data? Reviewed by Marc Chandler on February 15, 2020 Rating: 5
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Investors Continue to Look Past the Coronavirus

February 14, 2020
Overview: The capital markets are heading into the weekend, still trying to look past the coronavirus despite the new cases in Hubei. Tokyo was a notable exception in the Asia Pacific region, as the other major equity markets, like in Hong Kong, China, Taiwan, South Korea, and Australia, advanced. The MSCI Asia Pacific Index rose for the second we…
Investors Continue to Look Past the Coronavirus Investors Continue to Look Past the Coronavirus Reviewed by Marc Chandler on February 14, 2020 Rating: 5
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Surprise? China Undercounts Afflictions and Fatalities, Curbs Risk Taking

February 13, 2020
Overview: There is one overriding driver today, and that is the incorporation of CAT scan diagnoses of the virus in Hubei, ground-zero. This follows the arrival of WHO officials into China a couple days ago. Not only have the cases jumped, but so did the number of deaths. It plays on fears that China's figures are not reliable. But it is not j…
Surprise? China Undercounts Afflictions and Fatalities, Curbs Risk Taking Surprise? China Undercounts Afflictions and Fatalities, Curbs Risk Taking Reviewed by Marc Chandler on February 13, 2020 Rating: 5
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The Greenback Slips in Subdued Activity

February 12, 2020
Overview: Investors appear to be increasingly looking past the latest coronavirus from China as new afflictions slow. Despite the soggy close of US equities yesterday, Asia Pacific bourses are nearly all higher, led by more than 1% gains in Singapore and Thailand. The Dow Jones Stoxx 600 is at new record highs, led by consumer discretionary and ma…
The Greenback Slips in Subdued Activity The Greenback Slips in Subdued Activity Reviewed by Marc Chandler on February 12, 2020 Rating: 5
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New Calm in the Capital Markets Continues, Powell Moves to Center Stage

February 11, 2020
Overview: Investors are taking solace from reports indicating that the increase in the new coronavirus at ground zero (Hubei) is slowing. After the S&P 500 reversed early losses yesterday to close at new record highs helped keep the bullish sentiment intact. Benchmarks in Hong Kong, South Korea, Australia, and China rose for the sixth session.…
New Calm in the Capital Markets Continues, Powell Moves to Center Stage New Calm in the Capital Markets Continues, Powell Moves to Center Stage Reviewed by Marc Chandler on February 11, 2020 Rating: 5
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Quiet Start to the New Week in which Politics may Dominate

February 10, 2020
Overview: The global capital markets have begun the new week on a cautious tone as investors seek to assess the latest news on the new coronavirus. Nearly all the markets in Asia fell but China. European bourses are lower as well, with the Dow Jones Stoxx 600 off about 0.3%. US shares are soft but little changed. Benchmark yields are slightly lowe…
Quiet Start to the New Week in which Politics may Dominate Quiet Start to the New Week in which Politics may Dominate Reviewed by Marc Chandler on February 10, 2020 Rating: 5
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