AUD is down during the morning: Aussie yields are too as bonds back away from a crazy break out: XJO is off modestly: The Dalian bear market rally is still firmish: Big Iron is off a bit. FMG has recaptured $4.50 but its larger bearish pattern is well intact: Big Gas is strong: Big Gold
AUD sold after weak jobs but is up again on the wild-eyed bid for Chinese stimulus: Bonds are bid back below their lunatic breakout: XJO is up modestly: Dalian is screaming higher: Big Iron too: Nothing changed for me. China to still slow. Big Gas has launched too. Oil sure has momentum: Big Gold is
The AUD is down: Bond yields are still flirting with a crazy breakout: XJO is up a bit: Dalian has misread slowing China data: As has Big Iron: Today’s tearaway is Big Gold which is either signalling more USD or AUD falls or both. I’m still skeptical though acknowledge that while risk runs so might
Virtue signalling missiles is all that matters today with the AUD up: Bond yields threatening to break out: And XJO rallying: Underneath it all, Dalian is -2.8% and getting worse after China’s lousy weekend credit data and another PBOC money market rate hike today: Big Iron doesn’t care: Big Gas is off to the races:
AUD is stable during the day: Bonds are selling: As is XJO: Dalian has lost its overnight pop: But Big Iron is up on CLSA upgrades staring squarely into the rear vision mirror. BHP has had five upgrades this week. Great for setting shorts. FMG is finding $4.50 difficult as former support becomes resistance: Big
The Australian dollar is off its highs after the China PPI turd: Bonds are bid: XJO can find no joy: Dalian faded after the turd: Big Iron is unfazed. FMG is testing former support now resistance at $4.50: Big Gas is cock-a-hoop as bombs rain upon Syria. STO could be sneaky short on FIRB. Surely
Xi Jinping has given Davos Man his cue: *CHINA’S XI SAYS COLD WAR MENTALITY IS OUT OF PLACE *CHINA’S XI SAYS DIALOGUE IS THE WAY TO RESOLVE DISPUTES *CHINA’S XI SAYS SHOULD PUSH FOR FREE TRADE *CHINA’S XI CALLS FOR UPHOLDING MULTILATERAL TRADING SYSTEM *XI SAYS GLOBALIZATION MUST BE MORE OPEN, INCLUSIVE *XI SAYS TO
Credit Suisse’s Hasan Tevfik has the note: A few more charts: Winners and losers: Hmm, not bad. My main issue is with the “bondcano” idea. China is going to buy less Treasuries one way or another. If China does a deal then yields will rise but so will stocks. I’d see that as a great selling
Aussie bonds are off this morning: The AUD is firmer: XJO is flat: The better mood is all driven by rising S&P500 futures: However, genuflection is not helping Dalian which has opened soft: Nor Big Iron which is down as FMG hits new lows in journey to hell: Big Gas is mixed: Big Gold same:
AUD is back as if nothing happened this morning: Bonds are bid: XJO is flat: Big Iron is bid with China closed. Of course it will benefit from any trade war (not): Big Gas is up as the nation chases its energy tail elsewhere: Big Gold is plodding along: The Big Sleazy bear market continues:
Just in case you thought Aussie stocks would rise today. Nope: Aussie dollar splattered: US stock futures too:
The Aussie dollar is down during the day: Bonds have bid away from an extraodinarily stupid yield break out: XJO glimpses the light: As FMG falls down the shaft: My 2GB radio appearance has failed to derate Big Gas: Big Gold is still waffling: Big Sleazy is kidding itself that it’s over: And Big Puswad
Damien Boey at Credit Suisse has taken his bear pill today: Investor concerns about trade tensions are soothed by Kudlow Overnight, investors were initially very concerned about trade retaliation measures announced by Chinese officials. However, sentiment turned sharply higher after US President Trump’s new chief economic advisor Kudlow told investors to relax. US equities reversed
Via BT’s excellent Vimal Gor today: There are two attitudes you can take to the February 2018 “flash crash”. The first, and overwhelmingly the most popular, is that this was a technically driven correction in the markets, exacerbated by carry monkeys such as the short-VIX crowd, and that the pause since then has provided a
According to the stock market, Australian banks are not well. Let’s start with the technicals. The mortgage monsters – CBA and WBC – are both caught in bear markets with the former down -25% and the latter nearly -30% from 2015 highs. Both are exhibiting bearish descending triangle patterns and both are at crucial support
The Aussie dollar is up a bit today after OK retail sales in March: Bonds are getting sold and, amusingly, the short end is even threatening to break out. There is not one rate hike coming let alone three: The ASX is at new closing lows if it holds here: Dalian is down: But Big
Asian stocks continue to buck around on higher volatility with most bourses putting on small gains, while the ASX fell to its lowest level in months. It was a case of squaring positions before the Easter Weekend for most with yields on sovereign bonds also moderating. Commodity prices remain under pressure although there are some
The AUD is at new lows during the day: Bonds are bid: XJO is plumbing new lows: Dalian is flat: But Big Iron is copping it. FMG has entered free fall and RIO/BHP both have double-tops. They all look like howling shorts: Big Gas is off as well: And Big Gold: Big Sleazy is holding
By Chris Becker The poor showing in Asia did not translate into further falls in Europe, but the slump in Tesla stock and other techs pulled Wall Street down last night, slightly moving the risk edifice into correction territory. The USD launched into new heights against the majors and slamming gold while the huge auctions
Asian shares reliably reacted negatively to the late overnight activity after the new Trump threats to China trade with a big impact on tech stocks. The race to safe havens saw USD rise against the majors, even Yen although that was related to positive news coming out of North Korea. The Shanghai Composite closed 1.4% lower to
The Australian dollar is still hanging on at the lows of recent correction: But bond yields are bid big: And XJO is also back to the lows: As Dalian tumbles again: Big iron is under pressure. FMG has smashed support now with the waterfall ahead: Big Gas is easing. I’m mixed on it here depending
Three pieces of research today address the question. First BofAML says that an increase in volatility is indicative of bear market rollovers: Specifically, we found that vol also tends to increase heading into the final two years of a bull market relative to the year before. The most prominent examples occurred during the Oct-90 to
By Chris Becker Trust the Trump White House to screw the pooch on this attempted recovery, with news that a potential crackdown on Chinese electronic goods sending the NASDAQ tumbling 3%, taking down industrial stocks with it. This created yet another surge in safe havens with Yen and bonds rallying, with Treasury yields falling to
The last few weeks have confirmed our view that most of the cash from Trump tax cuts will end up as dividends or buybacks. At the same time, we are awash with articles warning of the dangers of buybacks, from Vox to the FT to the Harvard Business Review. I’m hoping none of these arguments
The solid rebound on Wall Street last night translated into similar gains here in Asia, although a late selloff in China pared gains on the mainland. Yen sold off as well as the need for safe havens abated, with optimism rising in Korea surrounding a surprise trip to China by the North Korean leader. Other
The Aussie dollar is down during the day: Bonds are off: XJO is adding a lousy 40 points despite the global rebound: Dalian is up: Big Iron too though not FMG which has fallen right to its $4.50 support. It’s toast or I’m a monkey’s uncle: Big Gas is up: And Big Gold. I remain
By Chris Becker The fluff and broth surrounding Trump’s trade war is simmering down, with news of moderation around China’s tariffs and other “deals” from the US Treasury sending stocks soaring on Wall Street overnight. Coupled with higher tension in the Middle East sending oil prices much higher, plus a new one month low on USD,
Not the Stormy session we were expecting here in Asia with most stock markets rebounding instead of following the very poor lead on Wall Street from Friday night. Adding to the calmness where no gaps in currency markets from the usual Monday morning nonsense, with Yen moderating slightly giving Japanese stocks a relief while the
The Aussie dollar has lifted this morning: Bonds are mixed: XJO has broken the February low paving the way for more: But it is holding off the worst today with US futures up solidly: Dalian is bumping along at the lows: Big Iron is still hanging on though FMG is creeping towards is fateful date
A bath of blood on Asian stock markets today in response to the impact of the US tariffs on Chinese goods. Not the best time to enact a new battle in this widening trade war by the Trump administration as risk markets were already teetering on the edge, with a race to safe havens like
