IN THE OVERNIGHT 8 DECEMBER
HAPPY NFP Day!! Asia Mixed…Europe GREEN TOP STORIES OVERNIGHT Yen Watchers Brace for Even Wilder Swings-BBG The foundations for the yen’s biggest surge in nearly a year were laid in Asia after Bank of Japan Governor Kazuo Ueda and one of his deputies made comments that traders took as hints of a looming interest-rate hike. A weak Japan bond auction added […]
IN THE OVERNIGHT 7 DECEMBER
Sea of RED today TOP STORIES OVERNIGHT China’s imports unexpectedly shrank in November from a Covid-hit period a year ago, while exports edged up from a low base, suggesting the nation’s slowing economy still hasn’t bottomed out. Imports in dollar terms declined 0.6% after clocking an improvement the previous month, according to official data released Thursday. That was […]
IN THE OVERNIGHT 6 DECEMBER
Pretty GREEN out there TOP STORIES OVERNIGHT PBOC Steps Up Yuan Support Via Fixing After Moody’s Outlook Cut-BBG The PBOC set the daily reference rate for the managed currency at 7.1140 per dollar, versus an average estimate at 7.1486 in a Bloomberg survey. The gap between the two was the largest in more than two weeks, a […]
IN THE OVERNIGHT 5 DECEMBER
Mixed Markets TOP STORIES OVERNIGHT Moody’s Cuts China Credit Outlook to Negative on Rising Debt-BBG Moody’s Investors Service cut its outlook for Chinese sovereign bonds to negative, underscoring deepening global concerns about the level of debt in the world’s second-largest economy. Moody’s lowered its outlook to negative from stable while retaining a long-term rating of A1 […]
WEEKEND PREP 3 DECEMBER
NOVEMBER CLOSES WITH HUGE GAINS So what is causing this? Yes, the Fed is paused in November, but their narrative has not changed..Jerome Powell is still insistent on “higher for longer” and the Fed balance sheet is still rolling off…so where is all this exuberance coming from? Short and maybe somewhat overlooked answer: Easing Financial […]
IN THE OVERNIGHT 1 DECEMBER
Powell Speaking today at 2:00 PM ET Asia Mixed…Europe GREEN TOP STORIES OVERNIGHT Oil’s Wild Ride Is Driven by a Disruptive Band of Bot Traders-BBG While it’s hard to quantify how much of total trading volumes are controlled by CTAs, algos more broadly are responsible for as much as 70% of crude trades on an […]
IN THE OVERNIGHT 30 NOVEMBER
OPEC MEETING IN PROGRESS (3 meetings today, final meeting is at 9:30AM ET…lots of rumors until then) GREEN as far as the eye can see TOP STORIES OVERNIGHT Euro-Area Inflation Slows More Than Expected With 2% in View-BBG Euro-zone inflation cooled more than expected, putting the 2% target in sight as investors step up bets […]
IN THE OVERNIGHT 29 NOVEMBER
Asia Mixed…Europe GREEN TOP STORIES OVERNIGHT Oil Climbs Again With OPEC+ Meeting and Fed Signals in Focus-BBG Oil added to its biggest gain in a week as traders counted down to a high-stakes OPEC+ meeting on supply, and weighed signs that the Federal Reserve is done raising interest rates. Global benchmark Brent climbed above $82 a […]
IN THE OVERNIGHT 28 NOVEMBER
Asia Mixed…Europe RED TOP STORIES OVERNIGHT US Warns of Evolving Threats to Ships Sailing Through Red Sea-BBG A spate of attacks on merchant shipping near Yemen and Somalia, likely triggered by the war in Gaza, have prompted the US to warn vessel operators to be extra careful when navigating the region. “Exercise caution when transiting […]
WEEKEND PREP 26 NOVEMBER
OPEC meeting is this Thursday 30 November (it was pushed back from the original 25/26th date) COP28 (UN Climate Change Conference) also begins this Thursday, 30 November in UAE and lasts for two weeks until 12 December…this could be the most contentious meeting yet, with a record of over 70K participants. Biden is not slated to […]