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Markets Await Fresh Developments

November 08, 2021
Overview: Last week's bond market rally has stalled.  Benchmark 10-year yields are up 1-3 bp in Europe, and the three bp increase in the US puts the yield slightly below 1.50%.  Equities were mixed in the Asia Pacific region.  Japan, Hong Kong, South Korea, and Australia nursed losses after the regional benchmark (MSCI) rose 0.65% last week.  …
Markets Await Fresh Developments Markets Await Fresh Developments Reviewed by Marc Chandler on November 08, 2021 Rating: 5
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RBA Surprises

August 03, 2021
Overview: US Treasury yields were slipping, but the weaker than expected manufacturing ISM, which included the slowest rise in price paid since March, sent the 10-year yield below 1.15% and the 30-year below 1.83%.  The yen appears to be the most sensitive of the major currencies to US yields, and the drop in yields saw the dollar trade down to  J…
RBA Surprises RBA Surprises Reviewed by Marc Chandler on August 03, 2021 Rating: 5
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Chinese Officials Calm Markets

July 29, 2021
Overview:  More constructive signals from Chinese officials and a Federal Reserve that is gradually moving toward slowing its bond purchases have had a beneficial impact on the risk-appetites.  Led by a 3% recovery in the Hang Seng, the large equity markets in the Asia Pacific region advanced after the MSCI benchmark recorded the lows for the year…
Chinese Officials Calm Markets Chinese Officials Calm Markets Reviewed by Marc Chandler on July 29, 2021 Rating: 5
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Greenback Starts Big Week Softer

July 26, 2021
Overview:  The price action in the foreign exchange and bond markets has been consistent with the risk-off narrative, spurred arguably by the surge in Delta mutation of the virus.  However, equity markets were less consistent with it.  Last week's weakness in the MSCI Asia Pacific Index seemed to be partly driven by Beijing's crackdown on …
Greenback Starts Big Week Softer Greenback Starts Big Week Softer Reviewed by Marc Chandler on July 26, 2021 Rating: 5
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New Record Cases in Sydney Casts a Pall over Australia

July 23, 2021
Overview: The combination of the dovish ECB's forward guidance and the unexpected rise in weekly US jobless claims to a two-month high sent bond yields tumbling.  The US 10-year pulled back from 1.30%, and benchmark yields in the eurozone fell to new 3-4 month lows. The $16 bln 10-year TIPS auctioned yesterday resulted in a record low yield of…
New Record Cases in Sydney Casts a Pall over Australia New Record Cases in Sydney Casts a Pall over Australia Reviewed by Marc Chandler on July 23, 2021 Rating: 5
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Enguard Lagarde

July 22, 2021
Overview: The rally in US shares yesterday, ostensibly fueled by strong earnings reports, is helping to encourage risk appetites today.  The MSCI Asia Pacific Index is posting its biggest gain in around two weeks, though Japan's markets are closed today and tomorrow.  The Dow Jones Stoxx 600 is building on yesterday's rally, and with today…
Enguard Lagarde Enguard Lagarde Reviewed by Marc Chandler on July 22, 2021 Rating: 5
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Did Japan Deliver a Fait Accompli to the US?

July 21, 2021
Overview:  The biggest rally in US equities in four months has helped stabilize global shares today.  In the Asia Pacific region, Japan, China, and Australian markets advanced.  Led by information technology and consumer discretionary sectors, Europe's Dow Jones Stoxx 600 is up around 1.35% near the middle of the session.  US equity futures ar…
Did Japan Deliver a Fait Accompli to the US? Did Japan Deliver a Fait Accompli to the US? Reviewed by Marc Chandler on July 21, 2021 Rating: 5
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Quarter-End Adjustments Blunt Trend Moves

March 31, 2021
Overview:  The US dollar is paring its recent gains against most major and emerging market currencies today, mainly on the back of month and quarter-end position adjustments.  The euro held the $1.1700 level, while the Japanese yen continues to trade heavily.  Better than expected PMI readings from China appeared to help sentiment.  The JP Morgan …
Quarter-End Adjustments Blunt Trend Moves Quarter-End Adjustments Blunt Trend Moves Reviewed by Marc Chandler on March 31, 2021 Rating: 5
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Markets Look for Direction after Large Block Trade and Before Key Data

March 29, 2021
Overview:  The large block trade (~$20 bln) before the weekend, apparently from a family office, continued to have ripple effects today, but the MSCI Asia Pacific Index barely noticed.  It extended its pre-weekend rally of 1.3%, and only South Korea and Australia fell among the major markets.  Europe's Dow Jones Stoxx 600 edged to new highs si…
Markets Look for Direction after Large Block Trade and Before Key Data Markets Look for Direction after Large Block Trade and Before Key Data Reviewed by Marc Chandler on March 29, 2021 Rating: 5
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