A much busier calendar this week than much of the past month. Globally, the most closely watched event will be the ECB meeting on Thursday. Most market participants are expecting a rate cut after Draghi …
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Economic data in the U.S. is relatively light, with only a few relevant releases: retail sales on Tuesday, PPI on Wednesday, CPI on Thursday, Philly Fed on Thursday, and Housing Starts and Building Permits on …
Continue readingThere is a much lighter economic calendar this week compared to last week. The main event is the ECB rate decision on Thursday morning at 7:45 am EDT. Stateside Janet Yellen will be testifying before …
Continue readingWhite House officials indicated last night that President Obama is set to announce Janet Yellen as the new Federal Reserve Chairman nominee. She is expected to be confirmed in the Senate. Markets took on a …
Continue readingAsset prices for the most part are little changed from where they were as U.S. traders left their desks yesterday. Not much progress on the U.S. political negotiations, which continue to dominate the headlines. Asian …
Continue readingJohn Boehner made clear over the weekend that a clean debt limit bill would not be brought in the House. As a result, the market awaits further negotiations around the government shutdown and the debt …
Continue readingOvernight price action in SPX futures had its tightest range of the week, and most Asian and European equity indices moved less than 1%. Asian Indices Mostly Lower, Japan Again Weakest – No major economic data …
Continue readingOvernight price action in SPX futures similar to the last few days. After no progress was made on the government shutdown after talks between the President and Congressional leaders, futures leaked lower, though off their …
Continue readingAfter yesterday’s global rally, the second day of October has brought out the sellers. Asian markets almost all opened green, but SPX futures started moving lower shortly after midnight EDT, and were hit particularly hard …
Continue readingThe midnight deadline arrived, and the government shut down is officially underway. But the reaction by global asset markets was sanguine, after 2 days of declines. As I discussed in yesterday’s Macro Wrap, some market …
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