IN THE OVERNIGHT 15 DECEMBER
GREEN as far as the eye can see China’s Gloomy Economic Data Paints ‘Dire’ Growth Picture-BBG China’s economic recovery remained beleaguered by weak demand and a lingering property crisis last month, putting more pressure on Beijing to roll out supportive policies to juice growth. While industrial output and retail sales expanded in November, according to the official […]
IN THE OVERNIGHT 14 DECEMBER
Sea of GREEN TOP STORIES OVERNIGHT Wall Street Traders Go All-In on Great Monetary Pivot of 2024-BBG After clashing in recent years, Wall Street traders and the Federal Reserve are – for once – broadly in sync: The great monetary pivot is near as central bankers engineer a once-unthinkable soft landing in the world’s largest economy. That’s […]
IN THE OVERNIGHT 13 DECEMBER
HAPPY FOMC DAY!! Asia Mixed…Europe GREEN TOP STORIES OVERNIGHT COP28 Reaches a Final Resolution The COP28 finally reaches a resolution on the wording. The agreement reads 28(d) to transition from fossil fuels in a “just and orderly manner” by 2050. (the words phase-out were left off) 28 (b) Accelerating efforts toward the phase-down of unabated […]
IN THE OVERNIGHT 12 DECEMBER
HAPPY CPI DAY EDITION Mixed Markets TOP STORIES OVERNIGHT November CPI day cheatsheet via Goldman Sachs US CPI Expected to Stay Flat and Give Fed Room for Cuts-BBG A monthly Bureau of Labor Statistics report due Tuesday is set to show consumer prices were unchanged again in November, giving the Federal Reserve room to consider […]
WEEKEND PREP 10 DECEMBER
Central Bank decision frenzy starts on Tuesday of this coming week The big decisions this week come from the Federal Reserve, ECB, BOE, SNB, Banxico, and PBOC. Prepare for possible volatile markets, particularly FX, bonds, and equities. It seems most market analysts are calling for a pause this week, as well, that is what the […]
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 […]