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Buckle Up, the Ride may get Bumpy

October 31, 2020
The week ahead would have been daunting for investors in any event,, but the pandemic's new intensification is complicating the picture for businesses, investors, and policymakers.  The disease's evolution has been recognized for five or six months as the deus ex machina for our well-being, the economic fortunes, and the necessary policy r…
Buckle Up, the Ride may get Bumpy Buckle Up, the Ride may get Bumpy Reviewed by Marc Chandler on October 31, 2020 Rating: 5
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Investors Scared Before Halloween

October 30, 2020
Overview:   Investors punished US tech giants for not delivering perfection as prices apparently had discounted, and the subsequent sell-off coupled with month-end dynamics has rocked global equities.  Asia Pacific bourses were a sea of red, led by a 2.5% decline in the tech-heavy South Korean Kospi, but most major markets were off more than 1%. …
Investors Scared Before Halloween Investors Scared Before Halloween Reviewed by Marc Chandler on October 30, 2020 Rating: 5
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Markets Continue to Struggle

October 29, 2020
 Overview: The spreading virus that is shutting down large parts of Europe, while the US is reluctant to return to lockdowns and refuses to have a nationwide requirement for masks in public hit risk assets yesterday.  The S&P posted its largest decline in four months yesterday (~3.5%), and the selling carried into the Asia Pacific region.  Mos…
Markets Continue to Struggle Markets Continue to Struggle Reviewed by Marc Chandler on October 29, 2020 Rating: 5
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Animal Spirits Called in Sick

October 28, 2020
Overview:  Sickened by the surging virus, animal spirits are bed-ridden today. Several European countries are experiencing the most fatalities and illnesses in several months, and policymakers are responded with national restrictions. In 32 US states, hospitalizations have surged by over 10% in the past week.  In the Asia Pacific region, China, So…
Animal Spirits Called in Sick Animal Spirits Called in Sick Reviewed by Marc Chandler on October 28, 2020 Rating: 5
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Introducing the Bannockburn World Currency Index

October 27, 2020
The Dollar Index is a popular way to think about and trade "the dollar."  However, it has become less relevant as a reflection of the dollar's performance or representative of trade, capital flows, market capitalization.  Economists often use a trade-weighted basket, and the Federal Reserve's real broad trade-weighted index is an…
Introducing the Bannockburn World Currency Index Introducing the Bannockburn World Currency Index Reviewed by Marc Chandler on October 27, 2020 Rating: 5
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Markets Take Collective Breath and Beijing Tweaks Fixing Mechanism

October 27, 2020
Overview:  The surging pandemic sapped the risk-taking appetites as some investors hunker down for what could be a volatile period ahead.  The S&P 500 lost nearly 3% at its lows before rebounding 1% in late dealings.   However, the US's fiscal stimulus remains highly likely even if not immediate, and more intensive trade talks between the …
Markets Take Collective Breath and Beijing Tweaks Fixing Mechanism Markets Take Collective Breath and Beijing Tweaks Fixing Mechanism Reviewed by Marc Chandler on October 27, 2020 Rating: 5
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Troubling Start of the Important Week

October 26, 2020
Overview: The surging virus ravaging large parts of Europe and the United States is fanning concerns over the economic implications as new social restrictions and curfews are announced in several countries.  US additional fiscal support remains elusive as aid for states and local governments remains a bone of contention.  Equities are under pressu…
Troubling Start of the Important Week Troubling Start of the Important Week Reviewed by Marc Chandler on October 26, 2020 Rating: 5
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The Greenback does Not Look Ready to Break Down Quite Yet

October 25, 2020
The US dollar had a tough week, falling against all the major and most emerging markets currencies.  The weakness came in the face of higher US yields and a wider premium over most other high-income countries. The US 10-year yield almost 10 bp, the most in a couple of months to settle around 0.84%, after reaching the highest level since early June…
The Greenback does Not Look Ready to Break Down Quite Yet The Greenback does Not Look Ready to Break Down Quite Yet Reviewed by Marc Chandler on October 25, 2020 Rating: 5
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Big Week Ahead

October 24, 2020
A two-week period is about to begin that could usher in a new phase for the global capital markets.  Most of the major central banks hold policy meetings, and the US and Europe report the preliminary estimates of Q3 GDP.  The US holds its national elections. A clearer sense of UK-EU trade talks ahead of the mid-November summit is likely.  China ho…
Big Week Ahead Big Week Ahead Reviewed by Marc Chandler on October 24, 2020 Rating: 5
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Disappointing PMIs may Sharpen ECB's Dovishness but the Euro Remains Firm

October 23, 2020
Overview:  The US dollar is finishing the week on a soft note, falling against all the major currencies.  On the week, it is off by at least one percent against most of them, with the Australian and Canadian dollars and Japanese yen, laggards, rising 0.5%-0.75%.  Emerging market currencies are largely participating, as well.  The JP Morgan Emergin…
Disappointing PMIs may Sharpen ECB's Dovishness but the Euro Remains Firm Disappointing PMIs may Sharpen ECB's Dovishness but the Euro Remains Firm Reviewed by Marc Chandler on October 23, 2020 Rating: 5
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