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China Steps away from the Abyss and Animal Spirits are Rekindled

November 29, 2022
Overview: Chinese officials using the carrot and the stick have succeeded in dampening the protests and easing some anxiety and rekindled the animal spirits. Hong Kong’s Hang Seng rallied 5.25% and its index of mainland shares surged 6.20%. South Korea and Taiwan indices gained more than 1%. Among the large bourses, only Japan failed to advance. S…
China Steps away from the Abyss and Animal Spirits are Rekindled China Steps away from the Abyss and Animal Spirits are Rekindled Reviewed by Marc Chandler on November 29, 2022 Rating: 5
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China Shakes Markets, Euro Shakes it Off

November 28, 2022
Overview: The surging Covid cases in China and the protests in several cities seemed to set the tone for today’s session. Equities are lower. China, Hong Kong, Taiwan, and South Korea were marked down the most. Of the large bourses, only India escaped unscathed. Europe’s Stoxx 600 is off more than 0.8% and US futures are poised to gap lower. Bond …
China Shakes Markets, Euro Shakes it Off China Shakes Markets, Euro Shakes it Off Reviewed by Marc Chandler on November 28, 2022 Rating: 5
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US Jobs and Eurozone CPI Highlight the Week Ahead

November 26, 2022
Two high-frequency economic reports stand out in the week ahead:  The US November employment report and the preliminary eurozone CPI. The Federal Reserve has deftly distanced itself from any one employment report. As a result, it would take a significant miss of the median forecast (Bloomberg survey) to alter market expectations for a 50 bp hike w…
US Jobs and Eurozone CPI Highlight the Week Ahead US Jobs and Eurozone CPI Highlight the Week Ahead Reviewed by Marc Chandler on November 26, 2022 Rating: 5
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Consolidative Session, even if Not Turn Around Tuesday

November 22, 2022
Overview: The US dollar is trading with a somewhat heavier bias after bouncing higher yesterday. All the G10 currencies are higher, led by the New Zealand dollar, where the central bank is expected to hike first thing tomorrow. Most emerging market currencies are also firmer. Those that are not, like the South Korean won and Mexican peso, are nurs…
Consolidative Session, even if Not Turn Around Tuesday Consolidative Session, even if Not Turn Around Tuesday Reviewed by Marc Chandler on November 22, 2022 Rating: 5
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High Anxiety: China's Covid and US Inflation

November 10, 2022
Overview: Anxiety is running high. Rather than ease its Covid restrictions, a surge in cases is seeing more areas in China come under restrictions. The US reports CPI and of the ten reports this year, seven of them have been stronger than expected. The turmoil in the crypto space has gotten noticed even by those not involved. Asia Pacific bourses …
High Anxiety: China's Covid and US Inflation High Anxiety: China's Covid and US Inflation Reviewed by Marc Chandler on November 10, 2022 Rating: 5
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The Week Ahead: How Sticky is US Inflation and How Soft is China's?

November 05, 2022
There are three potential inflection points. The first is a pause from the Fed; if nothing else, Powell signaled it was too early to think about it. The second is for the Bank of Japan to change monetary policy. Governor Kuroda has signaled that it is not time. Conventional wisdom is there will not be a change until Kuroda's term ends next Apr…
The Week Ahead: How Sticky is US Inflation and How Soft is China's? The Week Ahead: How Sticky is US Inflation and How Soft is China's? Reviewed by Marc Chandler on November 05, 2022 Rating: 5
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It is not So Much about the Fed's hike Today but the Forward Guidance

November 02, 2022
Overview: A consolidative tone has emerged ahead of the outcome of the FOMC meeting later today. The focus is not so much on the 75 bp rate hike, but on its forward guidance. Many expect the Fed to signal it will return to a 50 bp move next month, but we are not convinced that it will go beyond indicating that 50 bp or 75 bp will be debated in Dec…
It is not So Much about the Fed's hike Today but the Forward Guidance It is not So Much about the Fed's hike Today but the Forward Guidance Reviewed by Marc Chandler on November 02, 2022 Rating: 5
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