New week, same refrain. Stocks down, yields up, and the dollar is broadly higher. The Nikkei and Taiwan fell by more than 2% and South Korea and Australia were off more than 1%. China’s Shanghai...
The sharp sell-off of US equities yesterday weighed on global equities today. The Asia Pacific bourses were a sea of read with many of the large markets off 2%-3%. Japan, which returned from a three-day...
Russia’s decision to cut gas supplies to Poland and Bulgaria and the sharp sell-off in US equities yesterday casts a pall over the markets today. But not the dollar. The euro punched through $1.06 for...
The sentiment that fueled the recovery in US equities before the weekend carried over into today. Several Asia Pacific centers, including China, Taiwan, and South Korea were closed today, but Japan, Hong Kong, and India...
The central bank meeting cycle is over. Most of the important high-frequency data has been released until early January. The US debt ceiling has been lifted, avoiding an improbable default. A year ago, there was a sense...
The capital markets are calmer today, and the fear that was evident at the end of last week remains mostly scar tissue. Led by gains in Japan, China, Australia, New Zealand, and India, the MSCI...
Into the uncertainty over the implications of Omicron, the Federal Reserve Chairman injected a particularly hawkish signal into the mix in his testimony before the Senate. These are the two forces that are shaping market...
The dramatic collapse of the Turkish lira was like an accident one could not help look at, but it was not an accident, but the result of a disregard for the exchange rate and compromised...
Reports that the Fed’s Brainard was interviewed for the Chair helped soften yields a bit, not that they needed extra pressure, on ideas she is more dovish than Powell. In turn, the lower yields saw...
After a couple of sessions of taking on more risk, investors are taking a break today. Equities are mostly lower today after the S&P 500’s six-day advance took it almost to its record high, while the...
Profit-taking on long dollar positions was seen ahead of the weekend. The yield on the December 2022 Eurodollar futures slipped to finish unchanged on the week that saw CPI and PPI reports. The preliminary University of...
The global capital markets are subdued today as investors wrestle with the rising virus, the shifting stance of several central banks, and a more tense geopolitical backdrop. Equity markets are struggling today. Most of the...