“It was no small feat. And the fact that it was very much a global phenomenon makes it all the more significant. Investors should have been jolted into the realization that we just might be about to enjoy the healthy benefits of a two-way market.”
Category: europe
Stocks Fall Across The Globe As Hawkish Central Banks, Washington Jitters Roil Risk
Well, the overnight action was predictable under the circumstances, but it’s nevertheless unnerving for anyone
Euro Surges To 9-Month High, BofAML Says “Hawkish Festival” Is Dumb As Shit
“We have been arguing that tapering will come anyway, largely because of technical/ political constraints around QE. The ECB will still have to justify this with a macroeconomic narrative.”
Too Busy Patting Myself On The Back
“The top in the Eurostoxx / S&P 500 ratio was hit on the day of the Barrons’ “Buy Europe†cover story. Talk about selling the news.”
“Is It Really Only Tuesday?” One Trader Weighs In On Today’s Important News
Earlier this morning, we said the following about a series of comments from Mario Draghi
Euro Surges On Draghi’s “Three Messages,” Dollar Eyes Janet, Yuan “Suddenly” Jumps
Boy, I’ll tell you what, if you’re a central banker and you’re going to say
Gold Flash Crashes, “Jubilant” Germans, And Bank Bailouts
Well, gold plunged $18 in seconds on surging volume (18k contracts in a one-minute window)
It’s The Politics Stupid! BIS Flags A “Scary” Change In The Market’s Mindset
“Underlying a number of these changes was a shift of market participants’ attention away from monetary policy and towards political events.”
Russell Shuffle Day, Brexit Anniversary, & Crude Carnage
It’s Russell reshuffle day, which means equities will likely be jarred out of any summer
“Hakuna Matata”?
“In our opinion, this is not dangerous market complacency but a reflection of an abnormally tranquil macro environment, with a benign economic outlook, very supportive financial conditions, and lower political risks”…
Chart Of The Day: Asset Prices In The Trump Era
See if you can spot what’s still hanging on for dear life at record highs/tights despite lackluster incoming data and central bank tightening…
One Trader Has Had It With Your “Wild Projections Fueled By Irrelevant Moral Outrage”
“Traders need to remind themselves that you can’t win the war if you keep losing one battle after another.”
Dollar Is Happy, Pound Is Sad, And There’s Some Yuan Shenanigans Afoot
It’s about Dudley for the dollar which rose to a three-week high versus the yen
Unlike “Pundits” Who Are Always Wrong, One “Risk Taker” Actually Cares About His P/L
“While the pundit class can be wrong on a regular basis with no repercussions, for risk takers the P/L never lies.”
Trader: Markets Need To Be Exposed To Politics Just Like The Rest Of Us
“Ultimately, there can’t be normalization without exposing markets to the same concerns as the citizenry at large. The divide in levels of being appalled by goings-on is dangerous and as much a fuel of populism as other, more obvious causes.”
Stocks Super Happy, Oil “Flirts With Collapse,” UK Brexits, France Wonders Why No One Voted
Generally speaking, it was a quiet overnight session as traders look forward to a light
And Credit Investors’ Biggest Worry Is…
Spoiler alert.
What A “Buzz Kill”: Tech Selloff Goes Global
“There’s a chance U.S. internet technology stocks that have propelled a global stock rally will now serve as a buzz kill.”
China? China! Kuroda Contemplates His Exit, And Other Overnight Shenanigans
It’s “Super Thursday” and although the real fireworks (if there are any) aren’t set to
Josephine Witt’s Reign Is Over Or, Central Banks May Actually Mean It This Time
“For good reason, we’ve gotten used to taking everything with a grain of salt. It’s probably better to err now on giving them a serious dose of the benefit of the doubt.”
Terrorist “Troublemakers” Storm Overnight Session, Murder 12 In Iran Ahead Of “Super Thursday”
Well, it was a quiet overnight session right up until around 2 a.m. EST when
Safety Sought: Yen Rallies As Markets Nervously Eye Potentially Dangerous Thursday
So on Sunday, in our week ahead preview, we noted that Thursday would bring a
Brace For Impact: Full Week Ahead Preview
“While improving manufacturing confidence has recently added to the constructive global risk environment (characterized by dovish central banks, low cross-asset volatility and rising equity prices), a potential increase in political uncertainty in the US may undermine this backdrop.”
Goldman Presents: “The Good, The Less Good, And The Ugly”
“Against this friendly backdrop in Europe, fundamentals remain weaker in North America despite the recent signs of improvement since 1Q 2016. Relative to the peak in credit quality reached at the end of 2010, median net leverage ratios remain significantly higher while interest coverage ratios are also lower.”
China’s “No Bears Allowed” FX Policy Still In Spotlight Overnight
Ok, so the overnight fireworks were largely confined to early Asian trading. As noted last
Trader: “We’re Struggling To Understand Why Things Are Even Happening”
“So we function in a world where risk assets keep going up while we couch everything in risk-off terms. It’s not enough that our central bankers think they can play with our heads under the fiction that they are masters of nuance, we do it to ourselves.”
China Just Murdered The Yuan Bears
The PBoC has spoken and markets, at least for the time being, have listened. Coming
You must be logged in to post a comment.