The 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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Risk-off is in full swing overnight after the Congressional impasse deepened over the weekend, and the Italian parliament also was at risk of dissolving, leading to new elections and a potential hung parliament scenario. SPX …
Continue readingGlobal markets were most focused on U.S. Congress because the budget debate continues ahead of the Sept. 30th deadline (not to be confused with the debt ceiling debate that has a mid-to-late October deadline). U.S. …
Continue readingStocks in Asia were mixed, with Japan staging an impressive turnaround, but China selling off 2%. European stocks opened green, but quickly turned red. SPX futures rallied to up 7 points just prior to the …
Continue readingStocks in Asia and Europe were mostly red, with markets most focused on the U.S. political gridlock. S&P 500 futures were down to a 1687 low overnight, a new 8 day low. Asian Equities Decline, …
Continue readingHousing has been a special sector of focus for policymakers ever since the financial crisis. The Federal Reserve explicitly cited the threat to the housing recovery in last week’s statement. Housing-related stocks have shown relative …
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