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Turkey Drags EM Lower while US Yields Soften Ahead of Supply

March 22, 2021
Overview:  Equities in the Asia Pacific region and Europe found little support from the lower bond yields.  Chinese, Taiwanese, and Australian equities managed to post modest gains.  A fire at a Renesas auto chip facility in Japan weighed on auto shares.  This yet another disruption in chip production which was already estimated to cut global auto…
Turkey Drags EM Lower while US Yields Soften Ahead of Supply Turkey Drags EM Lower while US Yields Soften Ahead of Supply Reviewed by Marc Chandler on March 22, 2021 Rating: 5
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Are Those Double Tops in the Euro and Sterling?

March 21, 2021
US benchmark 10-year Treasury yields rose for the seventh consecutive week.  Such a streak was seen at the start of 2018 and late Q1/Q2 2009 and 2004, but none longer.  The US dollar was mostly firmer, but its gains were concentrated against the Scandis and euro.  The Norwegian krone's roughly 1.4% decline against the dollar was the most among…
Are Those Double Tops in the Euro and Sterling? Are Those Double Tops in the Euro and Sterling?  Reviewed by Marc Chandler on March 21, 2021 Rating: 5
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Divergence: The Only Macro

March 20, 2021
The major central banks have met.  The general message is that continued strong monetary support remains necessary, and the coming increase in price pressures is likely to be technical and transitory.  The US fiscal stimulus, on the back of which the OECD revised its global growth forecast up 1.4 percentage points to  5.6%, has been approved.  The…
Divergence: The Only Macro Divergence:  The Only Macro Reviewed by Marc Chandler on March 20, 2021 Rating: 5
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BOJ "Clarifies", while the Greenback Remains Firm

March 19, 2021
Overview:  Oil, equities, and bonds are stabilizing after yesterday's sell-off.  Crude oil tumbled in the past five sessions, dropping 8-9% before recovering today.  The sharp sell-off in US indices yesterday dragged global markets lower today, but the US futures are trading higher.  Today's sell-off leaves the MSCI Asia Pacific Index litt…
BOJ "Clarifies", while the Greenback Remains Firm BOJ "Clarifies", while the Greenback Remains Firm Reviewed by Marc Chandler on March 19, 2021 Rating: 5
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Dovish Fed but Yields Rise, Helping the Greenback Recover from Yesterday's Slide Dovish Fed but Yields Rise, Helping the Greenback Recover from Yesterday's Slide Reviewed by Marc Chandler on March 18, 2021 Rating: 5
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