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Markets
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Dollar Losses Accelerate, Adjustment not Over

The US dollar had one of its worst weeks of the year, as its interest rate support eroded. Despite prospects for a further upward revision in Q2 US GDP above 3.0% and continued above trend...

dollar-yuan-marketexpress-in

Trade Featured as Dollar Drifts Lower

The US dollar has a slightly lower bias today, but the against most of the major currencies, it is consolidating within the range set at the end of last week. The main exceptions are sterling...

abe-japan-marketexpress-in

Scandal-hit Shinzo Abe is a ‘dead man walking’

Japanese PM Abe’s approval rating has dropped to record new low amid a growing scandal surrounding suggestions that he intervened with officials at the ministry of education on behalf of a friend. Julian Ryall reports....

global-remittances-dollar-trump-marketexpress-in

Dollar Remains on the Defensive

The US dollar is narrowly mixed after selling off following the FOMC statement. Sometimes the narrative explains the price action, and sometimes the price action explains the narrative. This seems to be the case of...

dollar-yuan-marketexpress-in

Dollar Dumped on Doubts on US Economic Agenda

News of the defection of two more Republican Senators doomed the Senate attempt to replace and repeal America’s national health care. The failure to replace the system dubbed Obamacare, despite the Republican majority in both...

sterling-europe-boe-policy-marketexpress-in

Sterling, McCafferty, and BOE Policy

Sterling’s advance today is being attributed to comments by a member of the Bank of England’s Monetary Policy Committee McCafferty. However, we suspect it was a news item that was used to justify the price...

sterling-pound-marketexpress-in

Carney’s Reversal Lights Fire Under Sterling

Bank of England Governor Carney said shortly after the 5-3 vote at the MPC that now was not the time to increase interest rates. Today sterling is flying. It is posting the largest gain in...

Hong-Kong-Housing-Index-marketexpress

Hong Kong Warns: Its Housing Bubble is a “Dangerous Situation”

The HK financial system is “very strong” and “can withstand an adjustment in the property market.” The Hong Kong dollar is pegged to the US dollar. Hong Kong’s monetary policy is follows the Fed’s monetary...

US-auto-loan-annualized-net-loss-index-Fitch-marketexpress-in

This Toxic Trifecta for Auto Loans is Fueling #Carmageddon

Subprime Auto-Loan Backed Securities from 2015 on track to be Worst Ever. Institutional investors that manage other people’s money grabbed subprime auto-loan backed securities because of their slightly higher yields. These bonds are backed by...

yen-thoughts-marketexpress-in

More Thoughts about the Yen

The conventional narrative is that the yen’s strength is being driven by risk. It seems to border on circular logic. If the yen is up, it must be due to investors being averse to risk,...

japan-retail-sales-marketexpress-in

Japan- Retail sales records the highest growth in 24 months

According to METI, retail sales rose by 3.2% year on year(YoY) in April 2017. The growth rate is the highest since April 2015. A breakdown of retail sales shows that a broad range of sub-sectors...

US-quant-funds-share_2017-q1-marketexpress-in

Will Quant Funds Trigger the Next Stock Market Crash?

Quant-focused hedge funds – they specialize in algorithmic rather than human trading – gained $4.6 billion of net new assets in the first quarter, and now hold $932 billion, or about 30% to the $3.1...