IN THE OVERNIGHT 29 DECEMBER
Mostly GREEN-Quiet Night TOP STORIES OVERNIGHT Currency Funds Are Turning to Value After Carry Trade’s Epic Run-BBG A growing number of currency funds are looking to battered currencies that could benefit from lower interest rates as they attempt to replicate 2023’s blockbuster returns from the carry trade. Betting on a so-called value strategy — by […]
IN THE OVERNIGHT 28 DECEMBER
Asia GREEN…Europe RED TOP STORIES OVERNIGHT Year-End China Market Rally Takes Hold as Foreign Funds Pile In-BBG Chinese stocks rallied heading into the year-end, boosted by a rotation into some of 2023’s worst-performing sectors and a supportive global backdrop. The CSI 300 Index gained 2.3% to cap its best day in five months, as overseas investors bought […]
IN THE OVERNIGHT 27 DECEMBER
Pretty GREEN out there TOP STORIES OVERNIGHT Wall Street Quants Warm Up to Zero-Day Options Amid Trading Boom-BBG Banks such as Citi, JPMorgan adding 0DTEs in systematic trades At Citi, Cancelli and his colleague Guillaume Flamarion have led a charge into 0DTEs, bundling them up in a wide range of volatility-related products that hedge downside, harvest premium […]
IN THE OVERNIGHT 26 DECEMBER
PRETTY QUIET NIGHT with many markets closed today TOP STORIES OVERNIGHT Iron Ore Surges Past $140 to The Highest Since June 2022-BBG Iron ore rallied to its highest since June 2022, showing Beijing’s efforts to stem the property market’s decline in recent months may be paying dividends. Futures in Singapore rose above $140 a ton […]
WEEKEND PREP 24 DECEMBER
Last week was all about PCE The PCE prices declined by 0.1% in November, below market expectations of no change while the annual rate cooled to 2.6% from 2.9%, the lowest since February 2021. Markets absolutely rejoiced! Stocks extended their winning streak last week, with the S&P 500 rising for eight consecutive weeks. In the past […]
IN THE OVERNIGHT 22 DECEMBER
Happy PCE day!! (Feds favorite metric) 8:30 AM ET Mixed Markets TOP STORIES OVERNIGHT An epic Santa rally-Reuters It’s the last day in the final full week of trading for the year – not a bad point at which to take stock of what 2023 has brought to equity investors. A recession that never was, […]
IN THE OVERNIGHT 21 DECEMBER
Asia Green…Europe RED TOP STORIES OVERNIGHT Vilified Zero-Day Options Blamed by Traders for S&P Decline-BBG This year’s hottest derivatives trade, and perhaps also its most divisive, stole the limelight one final time for 2023 as market watchers cast zero-day options as the villains behind Wednesday’s rally-ending slump in US equities. With the S&P 500 Index in […]
IN THE OVERNIGHT 20 DECEMBER
Mixed Markets TOP STORIES OVERNIGHT Red Sea Chaos Has Shippers Bracing for Weeks Without Key Trade Route-BBG The global shipping industry is bracing for the prospect of living without its most important trade route for weeks. Even as the US works to pull together a task force to stop Houthi militants in Yemen from attacking commercial vessels, […]
IN THE OVERNIGHT 19 DECEMBER
Mostly GREEN TOP STORIES OVERNIGHT BoJ stays with dovish stance-FX Street The BoJ was widely anticipated to keep interest rates unchanged in the negative territory at 0.1% but the market was expecting that policymakers would unveil the roadmap stating how they would get exit from its decade-long ultra-loose policy stance. BoJ said in a statement that it won’t hesitate […]
WEEKEND PREP 17 DECEMBER
Last week was all about FOMC Although rates were unchanged as the market expected, it was Powell’s dovish tone that sparked a market rally and the bond market to price in 6 (!) rate cuts with the Fed dot plot pricing in three. The “dot plot” pointed to three rate cuts in 2024: While there was […]