Justin caught wind of this on Tuesday ICYMI:The gist of this is that China is considering new stimulus and higher deficit to meet its annual growth target. Chinese authorityes mulling the issuance of at least CNY1 trillion ($137.1 billion) of additional sovereign debt...
EU gives Musk 24 hours to respond about Israel-Hamas war misinformation and violence on X
> EU gives Musk 24 hours to respond about Israel-Hamas war misinformation and violence on X <!--> --> <!--> --> Info via CNBC:Thierry Breton, the European commissioner for the internal market, said in a letter addressed to Musk on Tuesday that his...
JP Morgan are wary of a disruption to oil supply and thus higher prices
JP Morgan says that while in the current environment, uncertainty is high, war in Israel is unlikely to disrupt oil supplies.The 'but' is:"There has been no immediate impact on current global oil production ... supply could be disrupted if the U.S. were strictly to...
Paul Tudor Jones says it’s hard to like US stocks – “vicious circle”
Legendary hedge fund founder Paul Tudor Jones spoke with CNBC on Tuesday. Sounding notes of caution. In brief:“It’s a really challenging time to want to be an equity investor and in U.S. stocks right now,”“You’ve got the geopolitical uncertainty" (says this creates...
ICYMI: Deutsche Bank recommends overweight equities into 2024, risk turning to opportunity
Via a note from DB favouring equities into next year. Analysts at the bank say their base case is no recession in the EUR zone.DB favour European stocks over US.In brief:"We anticipated weaker growth, disappointing beats in earnings and disappointing central bank...
US Secretary of State Antony Blinken will travel to Israel this week
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
MUFG says high yields have led to signalling from Fed officials of a pause
Yields have come off since the weekend with the horrific events in Israel prompting a move to US Treasuries:But are nevertheless at lofty levels. This summary of MUFG remarks is via the folks at eFX. For bank trade ideas, check out eFX Plus.Synopsis: MUFG observes...
Waiting on the private survey of oil inventory? It’ll be tomorrow due to Monday’s holiday.
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
US stocks close higher for the 2nd day this week.
The major stock indices are closing higher for the 2nd consecutive day this week, and the 3rd consecutive day overall. The gains were led by the NASDAQ and S&P index which each rose over 0.5% today (but near the middle of the day's trading range)The closing levels...
Forexlive Americas FX news wrap: US dollar sags as Treasury yields fall
Markets:Gold down $1 to $1859US 10-year yields down 12.9 bps to 4.65%WTI crude down 59-cents to $85.79S&P 500 up 0.6%GBP leads, JPY lagsThe levers that are driving markets remain elusive and that was especially true today on a day that didn't have any real...
USDJPY tilt is a little more to the downside in the short term, but sellers are on alert
USDJPY trades back below the 100 hour MA. Bearish.The USDJPY moved higher into the US session today, and in the process moved between the 100-hour MA (blue line at 148.83) and the 200-hour MA (green line at 149.129). The high price reached 149.09 which was just above...
Economic calendar in Asia 11 October 2023 – Reserve Bank of Australia speech
The speech by Christopher Kent, Assistant Governor (Financial Markets) at the Reserve Bank of Australia is titled "Channels of Transmission' and will be of note for how the RBA is responding to inflation pressure in Australia.The Bank has paused its rate hike path for...
Trade ideas thread – Wednesday, 11 October 2023
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Fed’s Kashkari: Inflation is headed down
Kashkari is speaking on a moderated panel, so more comments could tick in.I'm optimistic we can shrink the Fed's balance sheet back to pre-crisis trend lineWe are seeing higher long-term Treasury yields but not higher inflationReason for rise now in 10-year yield is a...
Goldman Sachs: Wait-and-see approach for the US dollar
Synopsis: Goldman Sachs adopts a cautious stance on the USD, indicating that the market seems to be in a 'wait-and-see' phase following a significant reassessment. Strong US growth and employment data currently prevent the Dollar from weakening, and looking forward, a...
Crude oil futures settle at $85.97
The price of WTI crude futures settled at $85.97. Down -$0.41 or -0.47%.The decline comes after yesterday's 4.34% surge on the back of the Mideast tension. That move to the upside took the price back above the August 10 high of $84.85. In trading today, the low price...
Biden: American citizens are among those being held by Hamas
US has enhanced military force posture in the region, ready to do moreOur message to anyone looking to take advantage of the situation: Don'tWe will make sure that Israel has what it needs to defend itselfWe uphold the laws of warWill ask Congress to take urgent...
Thursday’s CPI report is the highlight of the US economic calendar this week
US core CPI year-on-year (%)The economic calendar this week builds up to Thursday's US CPI report.TD Bank forecasts a continued "soft" core-price inflation for September, mirroring the previous month's 0.3% m/m increase. Notable changes are expected in goods inflation...
Timiraos: Higher long-end yields likely to extend Fed pause
WSJ Fed whisperer Nick Timiraos is out with his latest.a run-up in long-term interest rates might substitute for a further central bank rate hikeif the run-up in the 10-year Treasury yields to their highest levels since 2007 persists, those increases could substitute...
Fed’s Waller: Will ‘stay on the job’ to achieve 2% inflation objective
Fed's WallerFed is determined to bring inflation down to 2%Full speechThere is nothing particularly notable in the initial comments, which didn't directly address monetary policy or the outlook for the economy. Here is the conclusion portion of the speech: I think it...