IN THE OVERNIGHT 22 AUGUST
Pretty Green out there TOP STORIES OVERNIGHT Sudden Rally in China Stocks Has Traders Scratching Their Heads-BBG Chinese stocks staged a sudden rally late on Tuesday, with several traders attributing the rebound to technical reasons in the absence of any fresh triggers. In Hong Kong, the Hang Seng Index climbed nearly 2% within minutes, after a seven-day […]
WEEKEND PREP 20 AUGUST
Jackson Hole next week: Powell keynote is on Friday at 10:05 AM ET (check my X stream @chigrl as I will post a live stream link that day) Not much data last week so let us look at some overall trends this month. Interest rates back to cycle highs Via Edward Jones: COMMENTARY: What is […]
IN THE OVERNIGHT 18 AUGUST
Pretty RED out there ….Bloodbath in China TOP STORIES OVERNIGHT -CHINA EDITION China Urged Buybacks at Star Board Companies as Market Tumbled -BBG Chinese authorities encouraged companies listed on the Shanghai science and technology board to buy back their shares this week, people familiar with the matter said, another sign that China is taking steps to […]
IN THE OVERNIGHT 17 AUGUST
Mixed Markets TOP STORIES OVERNIGHT JGB 20Y auction results at 12:35PM crashes JGBs at long end, taking USTs down alongside Via @acrossthespread ~$200mn notional in 10Y JGB futures sold immediately- far more volume vs Aug 8th’s very strong 30Y auction, & erasing gains since China Told State Banks to Escalate Yuan Intervention This Week-BBG Chinese authorities […]
IN THE OVERNIGHT 16 AUGUST
Mixed Markets TOP STORIES OVERNIGHT China Asks Some Funds to Avoid Net Equity Sales as Markets Sink-BBG Chinese authorities asked some investment funds this week to avoid being net sellers of equities, as a rout in the nation’s financial markets deepened, people familiar with the matter said. Stock exchanges issued the so-called window guidance to several […]
IN THE OVERNIGHT 15 AUGUST
Pretty RED out there! TOP STORIES OVERNIGHT China Cuts Rate by Most Since 2020 as Economic Woes Deepen-BBG PBOC lowers one-year policy interest rate by 15 basis points Economic activity in July weakens as retail sales growth slows China’s central bank unexpectedly reduced a key interest rate by the most since 2020 to bolster an economy […]
WEEKEND PREP 13 AUGUST
Markets took another breather this week from the summer rally Via Edward Jones: After a remarkably strong rally to start the year, markets have given back a bit in August thus far, with the S&P 500 down around 3% since its recent high on July 31. Underneath the surface, however, we see the Nasdaq is […]
IN THE OVERNIGHT 11 AUGUST
Pretty RED out there TOP STORIES OVERNIGHT China Loans Plunge to 14-Year Low, Adding to Deflation Risk-BBG The plunge in loans is another sign of weak demand in China, and adds to a raft of negative data recently showing deflation in the economy, plunging exports and a slump in manufacturing activity. On top of that, […]
IN THE OVERNIGHT 10 AUGUST
CPI DAY! Pretty Green out there TOP STORIES OVERNIGHT US CPI DAY Goldman Sachs forecast on CPI (via @priapusIQ) Core MoM 0.15% (vs. 0.2% consensus) YoY 4.66% (vs. 4.8% consensus) Healine MoM 0.16% (vs. 0.2% consensus) YoY 3.17% (vs. 3.3% consensus) We expect monthly core CPI inflation to remain in the 0.2-0.3% range in the […]
IN THE OVERNIGHT 9 AUGUST
Asia Mixed …Europe Green TOP STORIES OVERNIGHT China Slides Into Deflation as Consumer, Factory Prices Drop-BBG China slid into deflation in July, adding pressure on policymakers to step up monetary and fiscal support even as signs that the decline in prices is temporary may limit any stimulus. The consumer price index dropped 0.3% last month from a […]