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Capital Markets Overivew

May 05, 2010
The US dollar is narrowly mixed as a nervous pall hangs over the market. The European debt crisis remains front and center and the euro has been unable to resurface above the $1.30 level today after it gave way in North America yesterday. Like yesterday, the Swiss National Bank seems determined that the flight to safety does trigger franc apprecia…
Capital Markets Overivew Capital Markets Overivew Reviewed by Marc Chandler on May 05, 2010 Rating: 5
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Don't Chase the Euro, Wait for a Bounce

May 04, 2010
The euro dipped below the $1.30 level, but losses below there were shallow. This is and has been a crowded trade, but the $1.30 level was the objective of many and the price action feels a bit like the end of a boxer's punch, when it loses much of its sting.
To be sure, I remain a euro bear. European officials have lost a degree of credibility…
Don't Chase the Euro, Wait for a Bounce Don't Chase the Euro, Wait for a Bounce Reviewed by Marc Chandler on May 04, 2010 Rating: 5
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Deflationary Forces in US and Senior Loan Officer Survey

May 04, 2010
After the PCE deflator was reported yesterday the Dallas Fed re-jigs it, cutting out strongest and weakest to arrive at a trimmed mean. By its calculations the PCE deflator rose 0.1% at an annualized basis, which is the result of rounding up. On a year-over-year basis the Dallas trimmed mean measure is up 1% vs the 1.3% increase of the core PCE.
A…
Deflationary Forces in US and Senior Loan Officer Survey Deflationary Forces in US and Senior Loan Officer Survey Reviewed by Marc Chandler on May 04, 2010 Rating: 5
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Thai Market Euphoria may be Exaggerated

May 04, 2010
The beleaguered Thai Prime Minister Vejjajia proposed a mid-Nov election as part of a broader compromise meant to end the eight weeks of violent protests and keep him in office until next year's budget makes its way through parliament. Although the financial markets responded positively, with a 4.4% rise in local shares--to the highest level i…
Thai Market Euphoria may be Exaggerated Thai Market Euphoria may be Exaggerated Reviewed by Marc Chandler on May 04, 2010 Rating: 5
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Greenback's Two Legs and Developments in Japan

May 04, 2010
I have argued that the dollar’s rally stands on two legs. The first leg, arguably the bigger of the two, is negative developments elsewhere in the world. While the European debt crisis is the most obvious consideration; it is not the only one. China’s incremental removal of excess liquidity and concerns of an unsustainable rise in real estate has …
Greenback's Two Legs and Developments in Japan Greenback's Two Legs and Developments in Japan Reviewed by Marc Chandler on May 04, 2010 Rating: 5
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