I
think there might be a hint of irony in the headline below.
No irony, I'm afraid, in the following headlines from Radio New Zealand:
It
could be a good year to ask for a pay rise, with a recruitment
company survey showing the number of businesses intending to hire is
at a six-year high.
Stocks
Stumble Into Green As China Stimulus Headline Trumps Collapsing Crude
19
January,, 2016
Your
day in equity markets explained... China
crap data (sell), that's great news - moar stimulus (buy), but Iran
just cut prices of crude to Europe (sell), and now the Saudis have
threatened to use nukes against Iran (sell more)... but then -
spurious headline saved the world - CHINA SHOULD CUT RESERVE RATIO,
RAISE DEFICIT: SEC. JOURNAL
All
fundamentals...
The
China headline ramped S&P Futs perfectly to VWAP...
Cash
indices all gave up their post-China gains before the spurious China
headline appeared (just a reminder - the last few RRR cuts have been
utter failures)
FANGs
ramped the open - tumbled all the way into the red - then were
rescued by Chinese headlines...
Energy
stocks were hammered but the bounce rescued financials
It
appears concerns about energy loan transparency are weighing on
regional banks...
Tumbling
to the lowest since Oct 2013...
Energy
credit risk continues to surge to record highs...
Investment
Grade credit is still worrisome...
BUT
- ex-Energy credit risk is surging also and following a worrisom
contagion pattern...
Treasury
yields ended the day modestly higher whipsawing intraday... with 10Y
getting close to 2.00%
The
USD Index ended the day unchanged, holding yesterday's gains...
Crude
and Copper loved the crap China data and ripped higher on stimulus
dreams only to dump it all back once US equities opened. Gold was
flat whilke Silver rallied...
Charts:
Bloomberg
Bonus
Chart: BofA sees S&P 500 pricing in a 50% chance of recession
Bonus
Bonus Chart: Earnings expectations are rolling over again!! (h/t
@Not_Jim_Cramer)
Not Jim Cramer
S&P Forward EPS Estimate Rolling Over. Again.
Overheard on CNBC this morning "now is the time to buy and believe."
Don't panic!
Hong Kong Dollar Plunges To Weakest Since Aug 2007
Modest
overnight weakness in the Hong Kong Dollar has accelerated notably as
the US session starts with USDHKD
down 150 pips in the last hour, plunging
to its weakest against the dollar since Aug 2007...
12
month forwards have been leading this collapse and still indicate HKD
dropping to 7.8650, once again testing the weak-end of the HKDUSD peg
band.
Wall St. In Free Fall! Gerald Celente Explains The Panic & Global Recession W/ Host Brian Engelman.
China's
economic growth slumps to 25-year low
China's
economy grew 6.9 percent in 2015, GDP figures released on Tuesday
showed, the lowest level of growth in 25 years.
Chinese
leaders are trying to reduce reliance on trade and investment by
nurturing slower, more self-sustaining growth based on domestic
consumption and services.
Bottom
of barrel: Crude oversupply makes producers cut oil output to
stabilize market
The
oil price dropped to a 13-year low on Monday trading below $28 per
barrel. Large oil producers are struggling to keep the economy
afloat, with the global crude prices at rock bottom. With the huge
crude oversupply - some oil producing countries have been
acknowledging the need to cut production.
No comments:
Post a Comment
Note: only a member of this blog may post a comment.