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Consolidation is the Flavor of the Day

July 08, 2020
Overview:   The S&P 500's longest advance this year was stopped seemingly as concern that the flare-up in the virus will slow the recovery.  The sell-off in airlines and hotels helped spur a broader bout of profit-taking.  Most Asia Pacific bourses advanced, led by the continued rally in Hong Kong and China.  Europe's Dow Jones Stoxx 6…
Consolidation is the Flavor of the Day Consolidation is the Flavor of the Day Reviewed by Marc Chandler on July 08, 2020 Rating: 5
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Profit-Taking Gives Turn Around Tuesday Its Name

June 09, 2020
Overview: The S&P 500 turning higher on the year was the last straw before an arguably overdue bout of profit-taking kicked-in and is the dominant feature today in the capital markets.  It began slowly in the Asia Pacific region. Equities were mixed, and Australia's 2.4% rally and the 1.6% gain in Hong Kong stood out.  Europe's Dow Jon…
Profit-Taking Gives Turn Around Tuesday Its Name Profit-Taking Gives Turn Around Tuesday Its Name Reviewed by Marc Chandler on June 09, 2020 Rating: 5
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Markets Calm(er)

September 17, 2019
Overview: Oil prices have stabilized after yesterday's surge.  Both Brent and WTI are holding on to around $7-$8 a barrel gain. Equity markets are mixed.  Some are attributing the losses in Asia Pacific outside of Japan (Nikkei rose its highest level since late April), Korea and Australia to the rise in oil prices.  European shares opened lowe…
Markets Calm(er) Markets Calm(er) Reviewed by Marc Chandler on September 17, 2019 Rating: 5
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The Hong Kong Dollar and the Goose that Laid the Golden Egg

August 19, 2019
The boldness and persistence of the demonstrators in Hong Kong have captured the attention of the world.  China has shown more restraint arguably than others would have demonstrated. So far it offers a stark contrast to Macron's response to the "Yellow Vest Movement" (des gilets jauner) in France, for example.  However, the last ac…
The Hong Kong Dollar and the Goose that Laid the Golden Egg The Hong Kong Dollar and the Goose that Laid the Golden Egg Reviewed by Marc Chandler on August 19, 2019 Rating: 5
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Financial Statecraft or Whack-a-Mole

June 13, 2019
Overview: After roiling the markets by threatening escalating tariffs on Mexico, US President Trump has threatened China that if Xi does not meet him and return to the positions that the US claims it had previously, he will through on imposing tariffs to the remaining goods the US buys from China that have not already been penalized.  Yesterday as…
Financial Statecraft or Whack-a-Mole Financial Statecraft or Whack-a-Mole Reviewed by Marc Chandler on June 13, 2019 Rating: 5
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Dollar Trades Off

March 22, 2018
The US dollar has not recovered from the judgment that yesterday's that Fed was not as hawkish as many had anticipated. There was no indication that officials thought they were behind the curve or prepared to accelerate the pace of hikes.  Powell is comfortable with the broad policy framework that has been established but seemed to have little…
Dollar Trades Off Dollar Trades Off Reviewed by Marc Chandler on March 22, 2018 Rating: 5
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