IN THE OVERNIGHT 25 JULY
China markets got excited over yesterday’s China Politburo meeting (which I covered yesterday morning in depth) TOP STORIES OVERNIGHT Xi Jinping’s pledge to revive growth is finally winning over some investors who’ve been burned time and again by China’s economic woes. Even as skeptics pointed to a dearth of specifics in the latest promises from […]
IN THE OVERNIGHT 24 JULY
WHAT A NIGHT!!! Mostly RED YTD stock markets performance TOP STORIES OVERNIGHT HCOB Flash Germany Composite PMI Output Index(1) at 48.3 (June: 50.6). 8-month low. HCOB Flash Germany Services PMI Business Activity Index(2) at 52.0 (June: 54.1). 5-month low. HCOB Flash Germany Manufacturing PMI Output Index(4) at 41.0 (June: 43.6). 38-month low. HCOB Flash Germany […]
WEEKEND PREP 23 JULY
ALL EYES ON THE FED THIS COMING WEEK! There was not a lot of data last week, so lets look at some key indicators in the market EQUITY MARKETS Via Edward Jones: INTEREST RATES The Fed has been firmly behind the wheel of the financial markets, as it has embarked on its most aggressive tightening […]
IN THE OVERNIGHT 21 JULY
**NASDAQ reshuffle today** (see top 5 stories) Mixed Markets TOP 5 STORIES OVERNIGHT An out-of-cycle rebalance in the Nasdaq 100 is adding another layer of wrinkles to stock trading with a flood of options expiring Friday. The special index rebalance, intended to reduce the dominance of technology megacaps, may see passive investors use the last window to bring their portfolios […]
IN THE OVERNIGHT 20 JULY
Mixed Markets TOP 5 STORIES OVERNIGHT John Kerry, President Biden’s climate envoy, emerges from talks in Beijing without a new agreement. Mr. Xi, who did not meet with Mr. Kerry during the envoy’s visit this week, said that China will follow its own timetable regarding emissions reductions. “The pathway and means for reaching this goal, […]
IN THE OVERNIGHT 19 JULY
Asia Mixed—Europe Green TOP 5 STORIES OVERNIGHT Eurozone Jun. Core CPI (MoM): 0.4%, [Est. 0.3%, Prev. 0.2%] Eurozone Jun. Core CPI (YoY): 5.5%, [Est. 5.4%, Prev. 5.3%] Eurozone Jun. CPI (MoM): 0.3%, [Est. 0.3%, Prev. 0.0%] Eurozone Jun. CPI (YoY): 5.5%, [Est. 5.5%, Prev. 6.1%] Eurozone Core CPI surprises slightly to the upside, with headline […]
IN THE OVERNIGHT 18 JULY
China mostly Red…Europe Mixed TOP 5 STORIES OVERNIGHT Prices for existing homes in China are tumbling even in major cities as an influx of sellers and a dearth of buyers undermine the once-unquestioned assumption that the market would only keep growing. Weak demand for housing is bogging down China’s economic recovery. Seasonally adjusted gross domestic product […]
WEEKEND PREP 16 JULY
DISINFLATION? CPI last week triggered a lot of headlines: “Disinflation has become a buzzword across trading desks, even though core inflation is still running above the central bank’s 2% target.” BBG According to Edward Jones there is a lot to like at June CPI: Headline inflation for June came in at 3%, cooler than expected, […]
IN THE OVERNIGHT 14 JULY
Mostly Green TOP 5 STORIES OVERNIGHT Investors piled into bonds and stocks while shedding cash in the week to Wednesday, according to a report on Friday from Bank of America (BofA) Global Research. The report said this reflected the “end of inflation, end of war, end of U.S. dollar bull” following data this week that […]
IN THE OVERNIGHT 13 JULY
Jobless claims and PPI day! Green as far as the eye can see…. TOP 5 STORIES OVERNIGHT China’s economy likely grew 7.3% in the second quarter from a year earlier due to a low base, but momentum is rapidly faltering, a Reuters poll showed, raising expectations Beijing will have to roll out more stimulus measures […]