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Wake Me up when September Ends

September 06, 2017
(apologies to Green Day)
Another record storm is headed for the US mainland; North Korea appears to be preparing for another missile launch, the looming US debt ceiling constraint saw 4-week T-bills yield rise to 1.3% at yesterday's auction even as the 10-year yield plumbed to depths not seen since last November.  In addition to the already bus…
Wake Me up when September Ends Wake Me up when September Ends Reviewed by Marc Chandler on September 06, 2017 Rating: 5
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Some Preliminary Thoughts on the ECB's Capital Key

September 05, 2017
The ECB's asset purchase program is constrained by the self-imposed guidelines.  As it QE continues, the ECB seems to be bumping against some of these parameters.  The situation is thought to be coming to a head shortly, perhaps as early as this week's ECB meeting. 
One of the constraints is the country exposure capped at a third of the sov…
Some Preliminary Thoughts on the ECB's Capital Key Some Preliminary Thoughts on the ECB's Capital Key Reviewed by Marc Chandler on September 05, 2017 Rating: 5
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Greenback Mixed, North Korea and PMIs in Focus

September 05, 2017
Reports suggesting that North Korea is moving an ICBM missile toward launch pad in the western part of the country at night to minimize detection, while South Korea is escalating its military preparedness and the US seeks new sanctions, keep investors on edge.   Risk assets are mixed.  Gold is slightly lower.   While the yen is stronger, the Swiss…
Greenback Mixed, North Korea and PMIs in Focus Greenback Mixed, North Korea and PMIs in Focus Reviewed by Marc Chandler on September 05, 2017 Rating: 5
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North Korea's H-Bomb Rattles Monday's Markets

September 04, 2017
North Korea's apparent test of a hydrogen bomb spurred a quick and fairly predictable response by investors, given that the US market was closed for the Labor Day holiday. The funding currencies, like the yen and Swiss franc, were bought back, gold rallied, and equities were sold.  
While playing up the fact that all options, including a milita…
North Korea's H-Bomb Rattles Monday's Markets North Korea's H-Bomb Rattles Monday's Markets Reviewed by Marc Chandler on September 04, 2017 Rating: 5
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Three Central Banks Dominate the Week Ahead

September 03, 2017
Four central banks from high income countries hold policy is making meetings in the first full week of September.  They are the Reserve Bank of Australia,  Sweden's Riksbank, the Bank of Canada, and the European Central Bank. Investors focus on the latter two.  
To be sure, no one expects the ECB to change rates or policy.  At most, some guidan…
Three Central Banks Dominate the Week Ahead Three Central Banks Dominate the Week Ahead Reviewed by Marc Chandler on September 03, 2017 Rating: 5
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