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OPEC+ and Powell are Awaited

March 04, 2021
Overview:  Equities are under pressure following yesterday's sharp losses in the US.  The MSCI Asia Pacific Index suffered its biggest decline of the week today as Japanese, Chinese, and Hong Kong benchmarks slid by more than 2%.  The Dow Jones Stoxx 600 Index in Europe is buckling under the pressure and is posting its first decline of the wee…
OPEC+ and Powell are Awaited OPEC+ and Powell are Awaited Reviewed by Marc Chandler on March 04, 2021 Rating: 5
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Trilateralism: The Past is Prologue

March 03, 2021
Intercapitalist rivalries ebb and flow and shaped modern history more than many may realize. Recall that Nixon unilaterally severed the dollar's last ties to gold, not because of the Soviet Union.  America's capitalist allies in Europe demanded gold for their dollars, accumulating from aid, foreign direct investment, and trade. A couple ye…
Trilateralism: The Past is Prologue Trilateralism: The Past is Prologue Reviewed by Marc Chandler on March 03, 2021 Rating: 5
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The US Dollar Finds Footing (Again)

March 03, 2021
Overview:  Equities have more stable footing today, despite yesterday's losses in the US, as the relative stability in the bond markets bolster risk-appetites. Led by a 2.7% rally in Hong Kong, which matches its largest advance of the year, Asia Pacific markets all advanced.   Europe's Dow Jones Stoxx 600 is up for the third consecutive se…
The US Dollar Finds Footing (Again) The US Dollar Finds Footing (Again) Reviewed by Marc Chandler on March 03, 2021 Rating: 5
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The Dollar Finds Better Footing

March 02, 2021
Overview: A warning from China's top banking regulator about the frothiness of foreign markets appeared to blunt the knock-on effect of yesterday's largest rise in the S&P 500 since last June (~2.4%) and weighed on global equities.  The large markets in the Asia Pacific region but India and South Korea fell.  Europe's Dow Jones Sto…
The Dollar Finds Better Footing The Dollar Finds Better Footing Reviewed by Marc Chandler on March 02, 2021 Rating: 5
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March Monthly

March 01, 2021
The investment climate is changing.  The reflation trade has gained traction.  Bond yields rose sharply, and curves steepened.  The dollar value of the negative-yielding bonds in the world fell from a peak last December of around $18.4 trillion to $12.6 trillion, the least since last July.    Commodity prices continue to move higher.  The CRB Inde…
March Monthly March Monthly Reviewed by Marc Chandler on March 01, 2021 Rating: 5
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Animal Spirits Roar Like a Lion to Start the New Month

March 01, 2021
Overview:  Equities and bonds jump back.  Most Asia Pacific markets advanced 1.5-2.5% after the regional MSCI benchmark dropped 3.65% before the weekend and 5.3% last week.  The recovery in European stocks was even more impressive.  The Dow Jones Stoxx 600 was up around 1.55% near midday, recouping the pre-weekend loss in full and making a gallant…
Animal Spirits Roar Like a Lion to Start the New Month Animal Spirits Roar Like a Lion to Start the New Month Reviewed by Marc Chandler on March 01, 2021 Rating: 5
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Was Last Week an Inflection Point for the Dollar?

February 28, 2021
For several years now, many have asked themselves where the bond vigilantes, those bond bears that push back against "QE forever" and never-ending government deficits. They appeared with a vengeance last week.  Many investors took comments from Federal Reserve officials, especially the leadership, as evidence of complacency over inflatio…
Was Last Week an Inflection Point for the Dollar? Was Last Week an Inflection Point for the Dollar? Reviewed by Marc Chandler on February 28, 2021 Rating: 5
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