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Markets in Search of Footing

April 03, 2018
The sell-off in US tech shares dragged the market lower.  The S&P 500 fell for the sixth session of the past eight and closed below the 200-day moving average for the first time in a couple of years.  The sell-off in Asia and Europe is more muted.  The MSCI Asia Pacific Index slipped less than 0.1%.   The Hang Seng, an index of H-shares, and K…
Markets in Search of Footing Markets in Search of Footing Reviewed by Marc Chandler on April 03, 2018 Rating: 5
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Cool Video: Bloomberg Double Feature

April 02, 2018
Many are still celebrating the Easter holiday today, but not Tom Keene and Lisa Abramowicz and the Bloomberg team. They hosted me on Bloomberg TV today.  As is often the case, the discussion was broad, covering the pressing economic and financial issues.  
In the first clip, which runs about 2.5 minutes, I sketch out the argument for the US economy…
Cool Video: Bloomberg Double Feature Cool Video: Bloomberg Double Feature Reviewed by Marc Chandler on April 02, 2018 Rating: 5
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Understanding the Latest International Reserve Figures

April 02, 2018
At the end of every quarter, the IMF publishes the most authoritative reserve data with a three-month lag.   On Good Friday, the IMF published Q4 17 reserve holdings.  A recent article on Bloomberg played up an economist's forecast that euro reserves would increase by $500 bln over the next couple of years.  A review of the reserve data may he…
Understanding the Latest International Reserve Figures Understanding the Latest International Reserve Figures Reviewed by Marc Chandler on April 02, 2018 Rating: 5
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Monday Blues

April 02, 2018
The US dollar drifted a little lower in Asia to start the week while equities had a slightly heavier bias.  The MSCI Asia Pacific Index slipped 0.1%.  European bourses are mostly closed for the extended Easter holiday, while the S&P is set to start the new quarter about 0.3% lower. Although the subdued price action may not reflect it, there ha…
Monday Blues Monday Blues Reviewed by Marc Chandler on April 02, 2018 Rating: 5
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Emerging Markets: Preview of the Week Ahead

April 01, 2018
(from my colleague Dr. Win Thin)


EM FX was mostly stronger last week, despite the dollar’s firm tone against the majors.  Best EM performers on the week were MXN, KRW, and COP while the worst were ZAR, INR, and PEN.  US jobs data poses the biggest risk to EM this week, as US yields have been falling ahead of the data.  Indeed, the current US 10-yea…
Emerging Markets: Preview of the Week Ahead Emerging Markets: Preview of the Week Ahead Reviewed by Marc Chandler on April 01, 2018 Rating: 5
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The Start of Q2

April 01, 2018
The chief uncertainty has shifted from monetary policy and macroeconomics to the increase of volatility in the stock markets and the prospects of a trade war.  
Some of the major benchmarks, including the S&P 500, the MSCI Asia Pacific Index, the MSCI Emerging Markets Index, and Shanghai Composite held above the February lows in the retreat dur…
The Start of Q2 The Start of Q2 Reviewed by Marc Chandler on April 01, 2018 Rating: 5
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