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Two Major Surprises Today: China's PMI on the Downside and Eurozone CPI on the Upside Two Major Surprises Today: China's PMI on the Downside and Eurozone CPI on the Upside Reviewed by Marc Chandler on August 31, 2021 Rating: 5
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Little Follow-Through from Powell's Goose

August 30, 2021
Overview: There has been some follow-through activity after Fed Chair Powell's pre-weekend Jackson Hole comments, which confirmed the likely tapering ahead of year-end while underscoring the distinction between taking one's foot off the accelerator gradually and stepping on the brake.  The record closes in US benchmarks helped lift Asia Pa…
Little Follow-Through from Powell's Goose Little Follow-Through from Powell's Goose Reviewed by Marc Chandler on August 30, 2021 Rating: 5
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Powell Sent the Dollar Lower. Will the August Jobs Data Bring it Back?

August 29, 2021
Federal Reserve Chairman Powell's long-anticipated speech at Jackson Hole provided fireworks but not quite what the market had expected.  Confirmation of tapering was supposed to lift US rates and the dollar. Instead, the opposite took place, and there was a logic to it, which we drew your attention to by raising the possibility of a "dov…
Powell Sent the Dollar Lower. Will the August Jobs Data Bring it Back? Powell Sent the Dollar Lower. Will the August Jobs Data Bring it Back? Reviewed by Marc Chandler on August 29, 2021 Rating: 5
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August Folds into September: PRC PMI, EMU CPI, US NFP

August 28, 2021
August folds into September, and the high-frequency cycle begins anew.  The initial estimate of consumer inflation by the ECB and the US jobs data are the highlights. The preliminary PMI estimates have already been released for many countries and are often good enough for investors. China's PMI is an exception.  Beijing does not publish a prel…
August Folds into September: PRC PMI, EMU CPI, US NFP August Folds into September: PRC PMI, EMU CPI, US NFP Reviewed by Marc Chandler on August 28, 2021 Rating: 5
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Powell on Tap

August 27, 2021
Overview:  News of the deadly strike at the Kabul airport quashed risk appetites, sending equities lower and the dollar higher. 10-year Treasury yields were little changed on the day but settled off almost five basis points from the intraday high. There has been no follow-through. Equities are firmer. In the Asia Pacific region, only Japan and Aus…
Powell on Tap Powell on Tap Reviewed by Marc Chandler on August 27, 2021 Rating: 5
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Bond Sell-Off Continues

August 26, 2021
Overview:  The new equities high in the US failed to carry into today's activity.  Asia Pacific markets were mostly lower, led by Hong Kong and the mainland to snap a three-day advance.  Europe's Dow Jones Stoxx 600 is off nearly 0.5% through the European morning. US futures are soft.  The bond market sell-off continues, with the US 10-yea…
Bond Sell-Off Continues Bond Sell-Off Continues Reviewed by Marc Chandler on August 26, 2021 Rating: 5
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Market Awaits Fresh Incentives

August 25, 2021
Overview: Neither the chaos and tragedy unfolding in Afghanistan nor the US refusal to acquiesce to the allies' request to extend the August 31 deadline seems to have much impact on the global capital markets.   Instead, participants seemed to focus on a brighter economic outlook.  Perhaps the FDA's approval removes another reason for vacc…
Market Awaits Fresh Incentives Market Awaits Fresh Incentives Reviewed by Marc Chandler on August 25, 2021 Rating: 5
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