IN THE OVERNIGHT 12 JULY
CPI DAY!! Asia mixed…Europe green TOP 5 STORIES OVERNIGHT (slow night) China’s financial regulator asked banks to respond to a bearish research report on the sector by analysts at Goldman Sachs Group Inc., underscoring heightened sensitivity in Beijing toward negative market commentary as the economy slows. The National Administration of Financial Regulation communicated with several of the largest […]
IN THE OVERNIGHT 11 JULY
Pretty GREEN out there TOP 5 STORIES OVERNIGHT A monthly poll of financial market experts continues to send warnings about the health of Europe’s largest economy. Germany’s ZEW economic thinktank said Tuesday that its July expectations measure for the coming six months dropped to -14.7 points, the lowest mark since December. This month’s result fell […]
IN THE OVERNIGHT 7 JULY
Non-Farm Payroll Day! Asia RED Europe Mixed TOP 5 STORIES OVERNIGHT PREVIEW: June US Nonfarm Payrolls Expected to Fall To 230,000; Unemployment Rate to Drop to 3.6% Take A Look At What The Top Economists Are Forecasting In Today’s US Jobs Report: Premier Li vows to roll out targeted stimulus, no specifics Chinese authorities are […]
IN THE OVERNIGHT 6 JULY
Sea of RED (again) TOP 5 STORIES OVERNIGHT Chinese banking shares listed in Hong Kong tumbled on Wednesday after Goldman Sachs downgraded top lenders including Agricultural Bank of China (AgBank) in a report that deepened worries over a sector already suffering from a weak economy. The Hang Seng Mainland Banks Index (.HSMBI) tumbled 3.6% to near four-month […]
IN THE OVERNIGHT 5 JULY
Pretty red out there TOP 5 STORIES OVERNIGHT Manufacturers’ future view deteriorated again in June: Ifo German automakers’ expectations are at their worst since the 2008 financial crisis due to inflationary pressures, sclerotic economic growth in Europe and punishing competition from Tesla Inc. as well as Chinese carmakers. The future view by the likes of Volkswagen, Mercedes-Benz, and BMW deteriorated for […]
WEEKEND PREP 2 JULY
This week is a chartfest bonanza of what I think is worth noting over the past week and looking at Q2 data US: tighter credit conditions, weakening demand for credits Tighter credit conditions are likely to weigh on the economy. Historically, this has been followed by an increase in bankruptcies with a lag of 6-9 months […]
IN THE OVERNIGHT 30 JUNE
Last day of Q2–US data dump at 8:30AM ET A lot of Green out there today TOP 5 STORIES OVERNIGHT Underlying gauge rises to 5.4%, overshadowing headline slowing Euro-area core inflation re-accelerated in June, a setback for the European Central Bank that may reinforce its determination to raise interest rates next month. The measure of […]
IN THE OVERNIGHT 29 JUNE
Mixed Markets Asia-Europe Green TOP 5 STORIES OVERNIGHT UBS Group AG joined other banking peers in lowering its forecast for Chinese stocks this year, citing slowing growth momentum in the world’s second-largest economy. China stocks down sharply overnight Investors increased bearish bets on most Asian currencies, as a stuttering post-pandemic recovery in China, the world’s […]
IN THE OVERNIGHT 28 JUNE
Asia mixed…Europe GREEN TOP 5 STORIES OVERNIGHT The interest rate once dubbed the most important number in finance finally dies this week. A seminal event occurs at the end of this week: Dollar Libor will finally die. The big question is does its replacement, the Secured Overnight Financing Rate, make the global financial system safer, or just exposed to […]
IN THE OVERNIGHT 27 JUNE
A lot of US data this morning! Mixed Markets -China rebounds after huge losses last week TOP 5 STORIES OVERNIGHT Theme: Recession The Bank of England will push the UK into recession by the end of the year in its battle to curb the worst inflation of any Group of Seven economy, according to Bloomberg […]