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Macro: Tell Us Something We Don't Already Know

September 24, 2022
As September winds down, three sets of economic reports will draw the most attention. We will review them and then offer a snapshot of the emerging market central bank meetings. As we have seen in the UK and Norway, several emerging market countries raised rates early (beginning in the middle of last year) but still experienced an acceleration of …
Macro: Tell Us Something We Don't Already Know Macro: Tell Us Something We Don't Already Know Reviewed by Marc Chandler on September 24, 2022 Rating: 5
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It will be Enough, even if Too Much

September 21, 2022
Business travel commitments keep me from updating the blog until the weekend, but I wanted to share a few thoughts post-Fed. First, the Fed was more hawkish, and the median dot sees 125 bp increase in the target rate in Q4.  The hawkish thrust was also evident in projecting that the target rate will remain higher for longer.  Even in 2025 sees the…
It will be Enough, even if Too Much It will be Enough, even if Too Much Reviewed by Marc Chandler on September 21, 2022 Rating: 5
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Putin and Powell Lift Dollar

September 21, 2022
Overview: Between Putin’s mobilization of 300k Russian troops and Fed Chair Powell expected to lead the central bank to its third consecutive 75 bp hike later today, the dollar rides high. It has recorded new two-year highs against the dollar bloc and Chinese yuan, while sterling was sent to new lows since 1985. Asia Pacific bourses were a sea of …
Putin and Powell Lift Dollar Putin and Powell Lift Dollar Reviewed by Marc Chandler on September 21, 2022 Rating: 5
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Riksbank Hikes 100 bp but the Krona gets No Love

September 20, 2022
Overview: Yesterday’s late rally in US shares carried into the Asia Pacific session where all of the large markets advanced. However, the bears are not abdicating and Europe’s Stoxx 600 is off for the sixth consecutive session and US futures are trading lower. The sell-off in the bond market continues. European benchmark yields are mostly 8-10 bp …
Riksbank Hikes 100 bp but the Krona gets No Love Riksbank Hikes 100 bp but the Krona gets No Love Reviewed by Marc Chandler on September 20, 2022 Rating: 5
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The Greenback Firms to Start the New Week, Stocks Slide

September 19, 2022
Overview:  The busy week is off to a slow start as Japan is on holiday and the UK and Canadian markets are closed to honor Queen (Australia will commemorate with a holiday on Thursday). Nevertheless, the sell-off in equities continues and the US dollar is firm. Most of the large markets in Asia fell. India is a notable exception. Its benchmark ros…
The Greenback Firms to Start the New Week, Stocks Slide The Greenback Firms to Start the New Week, Stocks Slide Reviewed by Marc Chandler on September 19, 2022 Rating: 5
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The Dollar may Stabilize Ahead of the FOMC

September 18, 2022
Verbal intervention proved sufficient to keep the US dollar below JPY145, but the greenback gained broadly. It rose to new two-year highs against the dollar-bloc and Chinese yuan ahead of the weekend and to levels against sterling not seen since 1985. The elevated price pressures, while the labor market stays tight (weekly jobless claims fell for …
The Dollar may Stabilize Ahead of the FOMC The Dollar may Stabilize Ahead of the FOMC Reviewed by Marc Chandler on September 18, 2022 Rating: 5
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No One Wants a Recession, but Central Banks are willing to Take the Risk to Demonstrate Anti-Inflation Resolve No One Wants a Recession, but Central Banks are willing to Take the Risk to Demonstrate Anti-Inflation Resolve Reviewed by Marc Chandler on September 17, 2022 Rating: 5
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The Dollar Heads into the Weekend Well Bid

September 16, 2022
Overview:  The dollar is well bid. It has risen to new two-year highs against the dollar bloc and Chinese yuan. Aided by worse than expected retail sales, sterling, on its anniversary of leaving the European Exchange Rate Mechanism fell to its lowest level since 1985. This fits into the broader risk-off move. The S&P 500 fell to new two-month …
The Dollar Heads into the Weekend Well Bid The Dollar Heads into the Weekend Well Bid Reviewed by Marc Chandler on September 16, 2022 Rating: 5
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