Extending its losses from yesterday, following the untimely sacking of a fiscally responsible finance minister, South Africa is in freefall – Rang crashed above 16 (record lows), stocks have crashed, and bond yields exploded: China’s Yuan hit a fresh 4 year low… EM Stocks are plunging… And of course US High Yield Bonds… …
The EUR/USD pair fell during the course of the session on Thursday, as we reached towards the 1.10 level. Because of this, I feel that we might have a little bit of a pullback coming. On top of that, you can see that I have a purple line on the chart that represents the 100…
Total Fed Balance Sheet: Fed’s Balance Sheet week ending balance sheet was $4,442 trillion. This ending balance is down from the record $4.476 trillion for week ending 14 January 2015 and is insignificantly changed from the $4,440 trillion for last week. Note that on the 29 October 2014, the Federal Reserves governing board (FOMC) stated…
There’s much chatter kicking around about how strong the end of year rally will be. Here we sit, virtually unchanged across the board on most indexes in spite of enormous forces knocking the market higher and lower in 2015. I’m not so worried about the Santa Claus rally, end-of-year bullish seasonality data, or permabull whores…
OVERNIGHT MARKETS AND NEWS March E-mini S&Ps (ESH16 -0.86%) are down -0.77% at a 3-1/2 week low and European stocks are down -1.52% at a 1-3/4 month low on concern over a slowdown in China after China Nov new loans rose less than expected. Also, energy producers are lower as the price of crude oil (CLF16 -1.33%) fell to a fresh…
It was a relatively calm overnight session in which European stocks wobbled modestly, Japan was up, China was down following the Yuan’s weakest fixing since 2011 as the PBOC continues to aggressively devalue since the SDR inclusion (stoking concerns capital outflows are once again surging), EM stocks, stocks were weak and the dollar was unchanged…
So far, the month December has been downbeat for the U.S. market with the S&P 500 and Nasdaq Composite Index losing about 2.6% each (as of December 9, 2015) and the Dow Jones Industrial Average shedding about 2.2%. The commodity market rout instigated by fresh oil lows, the possibility of a Fed lift-off in a…
The North American mid-market mergers & acquisitions has cooled somewhat this year after a huge 2014. But with so many factors at play, what do the next 12 months hold? Mergermarket (MM): As we head into the New Year, what are the current factors defining mergers & acquisitions in North America’s mid-market? Jerry Black (JB):…
As debate continues over the path of US rate hikes through 2016, USD positioning is relatively neutral for the time as attention turns towards next weeks FOMC meeting. BNP Paribas expects the FED to lift rates by 25bp and thinks current FX levels are attractive for long USD positions. In Asia this morning, stock markets…
USD/CAD: Having continued to retain its bull pressure, USD/CAD looks to build up on its bull strength. It continues to maintain its upside risk closing higher on Thursday and during Friday’s trading session. On the upside, resistance resides at the 1.3700 level where a break will target the 1.3750 level. Further out, resistance comes in…
