Currencies of most emerging economies rallied against the dollar today, as expectations for the first rate hike in the US shift out to a year from now. There was one major exception – the Russian ruble.
Futures markets have shifted expectations for the Fed’s liftoff further out in time. The July-15 Fed Funds futures contract is only pricing a 12bp Fed Funds rate increase from the current levels – not enough for a full hike.Source: barchartIn fact the …
Nearly two decades of central bank financial repression have created huge distortions and imbalances in the world economy. Now they are coming home to roost as the impossibility of ZIRP forever dawns on even our mad money printers. Having created yet another round of ebullient financial bubbles, they are now getting palpably nervous. Even the lady with the perpetual tan and…
On Oct. 1, Saudi Aramco, the state-run oil producer of the world’s biggest exporter, cut prices for all its exports, reducing prices for Asia to the lowest level since 2008.
They fear it’s fueled by reckless lending; but when it pops, all heck will break lose.
The authorities keep emphasizing that the nurse who caught ebola from Thomas Eric Duncan was sealed in her haz-mat suit the whole time she cared for the poor fellow and blah blah nobody knows how she could possibly catch the …
Ben Bernanke began his tenure as Chairman of the Federal Reserve Board just as the housing bubble was peaking in February 2006.
Expectations of Bank of Japan accelerating securities purchases at the October meeting have fallen considerably.
Early openers down and drifting aimlessly: Kiwis -1.1%, Aussies -0.5%, Sth Korea -1%, Nikkei closed.
In Aussie sectors, Miners +1%, Gold +0.9% down to IT/Consumer Staples -1.1%.
Anyone in their position with the tools at hand would not have any other real option other than to buy stocks in whatever quantity is needed to reverse the selling and blow the shorts out of the water.Since I’m writing this on Sunday evening, if the Do…
