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Dramatic Market Adjustment Continues

February 23, 2021
Overview:  Rising rates continue to spur a rotation and retreat in stocks.  Yesterday the NASDAQ sold-off by nearly 2.5% while the Dow Industrials eked out a minor gain.  Equities are mostly higher in the Asia Pacific region while Japanese markets were on holiday.  Hong Kong led the advancers, but China and South Korea extended losses.  The early …
Dramatic Market Adjustment Continues Dramatic Market Adjustment Continues Reviewed by Marc Chandler on February 23, 2021 Rating: 5
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Greenback Remains Heavy

February 16, 2021
Overview: The equity rally appears undeterred by the rise in interest rates or the surge in oil prices.  Led by Tokyo and Hong Kong, Asia Pacific equities advanced.  China, Taiwan, and Vietnam markets remain closed. After gapping higher yesterday and extending the gains in early turnover today, the Dow Jones Stoxx 600 is consolidating.  US shares …
Greenback Remains Heavy Greenback Remains Heavy Reviewed by Marc Chandler on February 16, 2021 Rating: 5
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UK Blinks on Threat to Walk Away on Eve of EU Summit

October 14, 2020
Overview: Turn around Tuesday saw the dollar bounce, particularly against the Australian dollar and European currencies, among the majors.  Sterling pared earlier losses on reports that the UK would not walk away from the talks just yet, while the euro remains on its back foot. Emerging market currencies are mixed, leaving the JP Morgan Emerging M…
UK Blinks on Threat to Walk Away on Eve of EU Summit UK Blinks on Threat to Walk Away on Eve of EU Summit Reviewed by Marc Chandler on October 14, 2020 Rating: 5
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Nervous Calm

September 30, 2020
Overview: Quarter and month-end considerations could be overwhelming other factors today.  Turnaround Tuesday saw early gains in US equities fade.  Asia Pacific shares were mixed, with the Nikkei (-1.5%) and Australia (-2.3%) bear the brunt of the selling, while China, Hong Kong, Taiwan, and India rose.  Europe's Dow Jones Stoxx 600 is lower f…
Nervous Calm Nervous Calm Reviewed by Marc Chandler on September 30, 2020 Rating: 5
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Dollar Eases Ahead of the FOMC

September 16, 2020
Overview:  The dollar has been sold against nearly all the world's currencies ahead of what is expected to be a dovish Federal Reserve, even if no fresh action is taken. The Scandis and Antipodean currencies are leading the majors.  The South African rand and Mexican peso are leading the emerging markets currencies higher, and the JP Morgan Em…
Dollar Eases Ahead of the FOMC Dollar Eases Ahead of the FOMC Reviewed by Marc Chandler on September 16, 2020 Rating: 5
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Stocks Extend Gains, while Yesterday's Dollar Recovery Stalls

August 25, 2020
Overview: Soaring US stocks, optimism about a vaccine, and the affirmation of the US-China trade agreement are buoying global equities today.  The MSCI Asia Pacific Index is near seven-month highs and was led today by more than 1% gains in the Nikkei and Kospi.  Europe's Dow Jones Stoxx 600 is around 0.5% firmer to approach the 200-day moving …
Stocks Extend Gains, while Yesterday's Dollar Recovery Stalls Stocks Extend Gains, while Yesterday's Dollar Recovery Stalls Reviewed by Marc Chandler on August 25, 2020 Rating: 5
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The Return of Spheres of Influence

January 27, 2020
Traditionally, international relations were driven by what is called spheres of influence.  European and Japanese governments divided Asia and Africa among them. The spheres were often political concessions or the result of direct force,   War was often the price to be paid for increasing one's sphere.  Though simplistically expressed here to …
The Return of Spheres of Influence The Return of Spheres of Influence Reviewed by Marc Chandler on January 27, 2020 Rating: 5
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Whiff of Inflation in the Air

December 19, 2019
Overview: It is risky to read too much into the price action in holiday-thin markets, but inflation fears are beginning to surface. The price of January WTI is around $61, having tested $50 a barrel in Q3. The CRB Index made new highs for the year yesterday and is up almost 9% for the year. The US yield curve (2-10 year) has been steepening after …
Whiff of Inflation in the Air Whiff of Inflation in the Air Reviewed by Marc Chandler on December 19, 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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