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Archives by Year:
Offshore Yuan Falls After Weaker-Than-Expected Fix, Snaps Back
Ok, so as tipped earlier in the live feed… … the PBoC set the yuan fix weaker-than-expected after the offshore yuan extended its record winning streak to 14 days on Monday. You’ll want to watch and see how this develops as the session progresses, but the thing about these fixes is that you need to understand […]
EURUSD Daily Analysis – Tuesday, Sept 5
EURUSD moved sideways above the support level at 1.1823. As long as this level holds, the fall from 1.2070 could be treated as consolidation of the short term uptrend from 1.1662, and further rise towards 1.2165 is still possible after the consolidation. On the downside, a breakdown below 1.1823 support will confirm that the uptrend had completed […]
Crude Oil Prices Rudderless, Gold May Turn Lower On Fed Comments
Crude oil prices marked time on a quiet day made tame by the absence of top-tier news flow and Labor Day market closures in North America, as expected. The docket remains relatively tame as liquidity rebuilds, with nothing of unmistakable significance on tap until API inventory flow statistics cross the wires on Wednesday. That might make for […]
Sensex Opens Flat; Energy & Realty Stocks Lead
Asian stock indices are lower today as Chinese and Hong Kong shares fall. The Shanghai Composite is off 0.06%, while the Hang Seng is down 0.19%. The Nikkei 225 is trading lower by 0.47%. US markets were shut overnight on account of Labor Day. Back home, share markets in India have opened the day on a flat note with positive bias. The BSE […]
The Trouble With Asset Bubbles: If You Stop Pumping, They Pop
The trouble with inflating asset bubbles is that you have to keep inflating them or they pop. Unfortunately for the bubble-blowing central banks, asset bubbles are a double-bind: you cannot inflate assets forever. At some unpredictable point, the risk and moral hazard that are part and parcel of all asset bubbles trigger an avalanche of selling […]
E The Great Artificial Intelligence Bubble And Scam
The Great Artificial Intelligence bubble and Scam has made inroads into all facets of American life. The scam of the self checker at your local grocery store is a prime example, and certainly the same arguments can be made about self driving cars, and other artificial intelligence. These all seem to be an attempt to […]
Market Talk – Monday, Sept 4
Stock markets were spooked by North Korea’s sixth nuclear test over the weekend which had the usual effect of rallying safe-haven such as gold and treasuries. The US dollar also found a bid with the Japanese yen benefiting as money scattered from the risk. The Nikkei ended the day around 1% lower with exporters being […]
Market Expectations Regarding Successful Raising Of The Debt Ceiling
The market has apparently taken a dim view of the Administration’s ability to manage the debt ceiling issue. From Deutsche Bank (not online): Truth be told, I am unsurprised.
United Technologies To Acquire Rockwell Collins For $30B
United Technologies (UTX) and Rockwell Collins (COL) has announced that they have reached a definitive agreement under which United Technologies will acquire Rockwell Collins for $140 per share, in cash and stock. Under the terms of the agreement, each Rockwell Collins share owner will receive $93.33 per share in cash and $46.67 in shares of […]
Is Gold Overbought Or Will Flying Missiles Make Shiny Doorstops Great Again ?
With gold surging on the back of the risk-off sentiment that swept through markets on Monday following North Korea’s latest nuclear test, it’s worth asking if everyone’s favorite inflation hedge, doomsday insurance, and shiny paperweight might be overbought. As Bloomberg’s Sebastian Boyd mused in a quick note this afternoon, “the RSI is suggesting that gold is overbought […]
