This week’s market-moving events are likely to be unscheduled. Remember, Irma is still a catastrophic natural disaster even if it didn’t quite turn into a scene out of a bad Jake Gyllenhaal movie. And as the above mentioned Ben Purvis notes, “Kim Jong Un [could decide] to inject himself into the conversation again,” at any time.
Category: dollar
Dollar, Futs On The Rebound Early As Irma, Kim ‘Disappoint’
Everyone’s worst fears “fail to materialize.”
One Bank’s Advice: ‘Stay Long Gold’
Gold’s recent rally has of course reignited the eternal debate about the relative merits of owning largely useless pieces of metal as a “hedge” against the end times. But perhaps more important than the debate about whether it makes sense to own something that can’t be eaten or burned as protection against a scenario that leaves us all living in Cormac McCarthy’s The Road, is the question of where real rates are headed…
‘The Clocks Stopped At 1:17’…
Ok, get ready.
For now, the fiscal-chaos-can has been kicked, Harvey is behind us, and North Korea’s latest nuclear test has come and gone.
But dead ahead is Irma’s landfall in Florida, North Korea’s “founding day” (which by most accounts will be “celebrated” with an ICBM launch), and of course, more gridlock in D.C. We are, figuratively and literally, in the eye of the storm on Friday.
One Bank’s Stark Warning: King Dollar Is In Serious ‘Trouble’
Following last night’s bloodbath, you might be asking yourself if it’s time to call the
Wipeout: Dollar Crashes Across The Board
Dear lord: the pressure on the dollar is unrelenting.
It looks like no one wants to be the idiot that’s long USD headed into a weekend that could see a catastrophic hurricane strike on Florida and another ICBM launch for North Korea.Â
Ok, So What Now?
Just one more day of this before the weekend, when we’ll all get to put up the plywood and hide in the basement as Irma turns Florida into Atlantis and Kim turns Tokyo into Dresden…
Dollar Drop Accelerates As Fed Uncertainty Weighs
So as Bloomberg notes, markets were “slightly disjointed overnight with various factors driving individual assets,” but you do want to keep an eye on the dollar here because it looks like the Cohn news combined with Stanley Fischer’s resignation is weighing on the greenback.
Boris The Bullet-Dodger.
Seemingly unwilling to risk any further damage to his already low approval ratings, Trump ultimately
Death By A Thousand Cuts.
The bottom line is that between another powerful hurricane approaching the U.S. mainland, U.S. markets catching up with their global counterparts in terms of pricing in North Korea after the long weekend, the DACA decision which portends more bickering in Washington, and the looming debt ceiling debate (with the specter of a technical default showing up in today’s decidedly poor 4-week bill auction), it was death by a thousand cuts.
Currency Havens For Millennials – And No, Not Bitcoin…
“Sure, they’re unlikely to seek shelter in Bitcoin and other cryptocurrencies just yet, not even Millennials. But they may well prefer a haven basket that includes more”…
‘Good Luck, We’re All Counting On You’: Full Week Ahead Preview
To be sure, whatever you thought was going to dominate the news flow in the week ahead is probably going to take a backseat to North Korea, for obvious reasons.Â
But North Korea isn’t the only thing on traders’ minds this week. Not by a long shot.
Harvey, The Debt Ceiling, And Why It Might Be Time To Fade The Pessimism
If you were following along last week, you know that more than a few commentators
Holiday Road.
“Well, that’s nothing to be proud of, Rusty…. 50 yaaaards.”
Manic Markets Reverse Jobs Knee-Jerk, But ‘There’s No Chance Of December Hike’
You want a reason to be dovish, you’ve got one now.
Dollar, Yields Fall As Jobs Report Misses
Well, it’s jobs day and there are a couple of ways you can approach the August print.Â
Riders On The Storm.
Right, so the storm wasn’t supposed to come until next month.
‘Peak Dollar?!’ Not So Fast You Ethereum-Lovin’ Millennial Shill
“Frankly, I’d be more convinced by an argument suggesting that the world’s reserve managers are going to hire a bunch of millennials who’ll switch their dollars into bitcoins, ethereum, and other crypto-“stores of value”.
As Far As President Ashley Schaeffer And Yields, Goldman Figures It Can’t ‘Feasibly’ Get Any Worse
“Given how negative sentiment on the political outlook has become, it’s feasible this sell-off in the 10-year could originate with a positive surprise from the policy process.”
I Don’t Want To Be Disappointed.
“I am fully committed to working with XIV to get. This. Job. Done.”
What If Stocks Are Right?
“…problems could arise if markets take a look at the U.S. and say “America! Heck yeah!”
Apocalypse Wow.
The crowds are huge for the end of the world…
The Great Flood
Although I can’t imagine why…
One Trader Explains Why Jackson Hole Was A Whole Bunch Of Nothing
“But there was a far smarter reason why Jackson Hole reverted back to an academic exercise and post-GFC policy retrospective.”
Damned Data – Full Week Ahead Preview
Ok, so the overarching narrative for this week shouldn’t be materially different from last week
Nobody Panic.
Your refund will be escaping this death trap with your life…
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