“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: FX
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 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)
3 C’s: Crude, Carry, CPI And Your Full Week Ahead Preview
Ok, so it’s Sunday which, as we’re fond of reminding you, means that tomorrow will be Monday – right up until Trump does something that takes the whole of idea of there being a “tomorrow” off the table…
One Trader Trusts Numbers Even Less Than He Trusts You – And That’s Saying Something
“The dictionary speaks of facts and specifics. But in reality it includes, biases, positions and a whole lot of other subjective factors. You and I can, quite properly, look at the same data and react differently.”
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…
Trader: “You Really Shouldn’t Make It Up As You Go Along”
“They don’t have to be governed only by the lowest common denominator. Nor forever ignore the negative externalities of oppressively low global rates and how they further suppress yields and encourage profligate risk-taking.”
A Kiwi, A Krone, And An Oil Rout
It was relatively quiet overnight session which saw market participants continuing to focus squarely on
A Royal Shakeup, China’s Big Day Falls Flat, Crude Reality Bites
Ok, well for obvious reasons, the headlines overnight pretty much all revolved around: Saudi Arabia
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.”
Peter Pan’s Revenge: Kuroda Thinks You’re Crazy To Think BoJ Is Not Still Crazy
“The moment you doubt whether you can fly, you cease forever to be able to do it.”
“Carry” On, Or Not So Much? Emerging Markets After The Fed
So one of the interesting things to note about the price action we’ve seen over
The Day After: Yellen’s Big Mistake
So here we are, the day after a Fed hike that was supposed to (and
“I’m The One Who Got Us Into This Mess,” A Brent Death Cross, And “The Day Before Tomorrow”
Today is all about tomorrow…
One Trader Thinks You’re Silly, Says You’re “A Wannabe Method Actor”
“Trading these markets is turning us all into wannabe method actors. We’re all desperately hoping someone will tell us what is our motivation.”
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.”
Goldman Presents: “FOMC Alpha” Or, How To Trade The Fed
“What is perhaps less well known is that a sizable portion of average yearly asset returns is generated on these days.”
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
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
Stop Chasing The Dragon: One Trader Says Central Banks Need To Abandon Their Mandate
“Any hint that targets are being abandoned or lowered would send a negative shockwave.”
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.”
Nikkei Tops 20,000 On Batshit Crazy BoJ Balance Sheet; Global Stocks Rise Ahead Of Jobs
Well, the Nikkei crossed 20,000 for the first time since 2015 overnight. And really, why
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.”
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