Edit

Macro Update: Melodrama Subsides but Capriciousness Remains

June 30, 2019
Since President Trump declared the end of the tariff truce with China in early May, an important focus for investors was the G20 meeting.  It was only as it drew near was a meeting between the two heads of state confirmed.  What was billed as an extraordinary meeting reportedly lasted less than 90 minutes, and the results were broadly as expected.
Macro Update: Melodrama Subsides but Capriciousness Remains Macro Update: Melodrama Subsides but Capriciousness Remains Reviewed by Marc Chandler on June 30, 2019 Rating: 5
Edit

Will the Greenback Return to Favor if Peak Dovishness is Passed?

June 29, 2019
The US dollar was little changed in the first half of June but fell out of favor in the second half as the market became convinced the Federal Reserve will begin cutting rates in late July and follow it up with two more cuts in H2.  Given then the world's largest economy continues to expand above trend, with unemployment at a historic low, and…
Will the Greenback Return to Favor if Peak Dovishness is Passed? Will the Greenback Return to Favor if Peak Dovishness is Passed? Reviewed by Marc Chandler on June 29, 2019 Rating: 5
Edit

The World may Look Different Come Monday

June 28, 2019
Overview:  Quarter-end positioning seems to dominate today's activity.  The outcome of bilateral talks at the G20 gathering partly reflects the influence of the US President who eschews multilateral efforts as a hindrance to its sovereignty.  Equities in Asia Pacific slipped today but held on to modest gains for the week.  The MSCI Asia Pacifi…
The World may Look Different Come Monday The World may Look Different Come Monday Reviewed by Marc Chandler on June 28, 2019 Rating: 5
Edit

Ready. Set. Wait.

June 27, 2019
Overview:  The approaching month/quarter-end and the G20 meeting dominate considerations.  Although the S&P 500 closed on its lows for the third consecutive session yesterday, Asia Pacific equities liked the apparent increase in the prospect of a tariff freeze between the US and China and the pullback in the Japanese yen.  Equity benchmarks in…
Ready. Set. Wait. Ready.  Set.  Wait. Reviewed by Marc Chandler on June 27, 2019 Rating: 5
Edit

Biggest Drop in the S&P 500 in June Weighs on Global Equities

June 26, 2019
Overview:  The S&P 500 fell nearly one percent yesterday, its steepest fall this month and this was a weight on Asia Pacific and European activity.  Most markets have eased, though not as much as the US did.  Hong Kong, India, and Singapore were notable exceptions in Asia, where the MSCI benchmark slipped for a second day.  Led by health care …
Biggest Drop in the S&P 500 in June Weighs on Global Equities Biggest Drop in the S&P 500 in June Weighs on Global Equities Reviewed by Marc Chandler on June 26, 2019 Rating: 5
Edit

Cool Video: Sketch of Bullish Case for Gold

June 25, 2019
I know some people who are always bullish gold.  I am not.  In fact, I often think I can find higher returning assets.  However, I have recently have turned bullish gold, and while in Toronto on business, I was invited to the set of Bloomberg to discuss my change of heart.
Many of the reasons the gold bugs cite would seem to justify owning gold b…
Cool Video: Sketch of Bullish Case for Gold Cool Video:  Sketch of Bullish Case for Gold Reviewed by Marc Chandler on June 25, 2019 Rating: 5
Edit

Heightened Political Risks Weigh on Sentiment

June 25, 2019
Overview:  It is far from clear that the US sanctions against nine Iranian officials, with the foreign minister to be added later brings negotiations any closer.  At the same time, US officials trying to keep expectations low for the weekend meeting between Trump and Xi.  The heightened political anxiety will have to make room for Fed Chairman Pow…
Heightened Political Risks Weigh on Sentiment Heightened Political Risks Weigh on Sentiment Reviewed by Marc Chandler on June 25, 2019 Rating: 5
Edit

Slow Start to Important Week

June 24, 2019
Overview:  The Trump-Xi meeting at the G20 this coming weekend and heightened tensions in the Gulf, with the US set to impose new sanctions on Iran's crippled economy are keeping investors on edge.  News the opposition won the re-do of the Istanbul mayoral election has lifted the Turkish lira.  Most of the major Asia Pacific equity markets, in…
Slow Start to Important Week Slow Start to Important Week Reviewed by Marc Chandler on June 24, 2019 Rating: 5
Edit

Greenback Breaks Down

June 23, 2019
The US dollar fell against all the world's currencies last week. Although most of the G10 central banks have what can be considered easing biases, the dollar is most vulnerable because there is so much more scope to ease and its strength had been in no small measure predicated on monetary divergence.  
It is striking that the dollar did not ral…
Greenback Breaks Down Greenback Breaks Down Reviewed by Marc Chandler on June 23, 2019 Rating: 5
Powered by Blogger.