Price Action
Investment Banks Share the Same Trading Algo Code
Submitted by EconMatters on 01/08/2016 12:57 -0500We used to have notions of ‘proprietary programmed code’ but the Investment Banks learned that they could make their life a lot easier by working together instead of cross purposes.
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US Futures Lose Overnight Gains; Dax Back Under 10,000 As Chinese Market Bailout Fizzles
Submitted by Tyler Durden on 01/08/2016 06:56 -0500- Aussie
- Bond
- China
- Circuit Breakers
- Consumer Credit
- Copper
- CPI
- Crude
- Crude Oil
- Equity Markets
- Fail
- fixed
- France
- Germany
- Initial Jobless Claims
- Iran
- Japan
- Jim Reid
- KIM
- Mexico
- NASDAQ
- Natural Gas
- Nikkei
- North Korea
- Price Action
- Primary Market
- recovery
- Saudi Arabia
- Shenzhen
- Time Warner
- Trade Deficit
- Unemployment
- Volatility
- Wholesale Inventories
- Yuan
The half-life of the latest "market supporting" intervention by the Chinese government: just about 12 hours.
The Carnage Returns: Stocks Tumble After Sharp Chinese Devaluation; Brent At 2004 Lows; Gold Surges
Submitted by Tyler Durden on 01/06/2016 06:55 -0500- Apple
- Bank of Japan
- Bear Market
- Bond
- China
- Citigroup
- Consumer Confidence
- Copper
- CPI
- Crude
- Crude Oil
- France
- Germany
- headlines
- High Yield
- Holiday Cheer
- Hong Kong
- Italy
- Japan
- Jim Reid
- Kyle Bass
- Kyle Bass
- Markit
- Middle East
- NASDAQ
- Nasdaq 100
- Nikkei
- North Korea
- Price Action
- RANSquawk
- Reuters
- Shenzhen
- Trade Balance
- Unemployment
- Wall Street Journal
- Yen
- Yuan
Before we go into details of the overnight carnage, this is where we stand currently: S&P futures now down 33 points or 1.63% while 2Y Treasury rallies pushing its yield back below 1% as EU stocks extend their drop after China weakened its currency, North Korea says it tested a hydrogen bomb; Brent crude falls to lowest level since 2004.
Wall Street's Biggest Permabull Just Slashed His Q4 GDP Forecast To 0.5%, Says "It May Be Too High"
Submitted by Tyler Durden on 01/05/2016 15:48 -0500We have reduced our estimate of Q4 real GDP growth by one full percentage point to 0.5%, and this still might be too high in light of what could be much larger inventory liquidation than what we have assumed.
Technical Analysis of the Lumber Market
Submitted by EconMatters on 12/30/2015 20:48 -0500The last two years rents have been rising primarily due to supply and demand issues.
Currency Markets offer some of the Best Trading Opportunities
Submitted by EconMatters on 12/28/2015 13:53 -0500Imagine if Casinos told you in advance what the next card from the deck in a game of Blackjack was going to be?
Global Stocks, Futures Flat As Santa Rally Runs Out Of Steam In Christmas Eve-Shortened Session
Submitted by Tyler Durden on 12/24/2015 07:02 -0500After a furious three day "dash for trash", no volume, no breadth, commodity-driven rally, even Santa is now exhausted and overnight US equity index futures were little changed with European and Asian shares mixed. The dollar has declines as gold, silver gain, with WTI initially continuing its recent meteoric rise (up over 8% in the past three days, nearly hitting $38), only to reverse and give up all overnight gains moments ago. Copper falls after Chinese stocks see a second day of weakness, down 0.7% while an unexpected tumble in the USDJPY to 7 weeks lows has dragged the Nikkei (-0.5%) and its futures down.
Santa Rally Lifts Global Stocks For Third Day: Will Volumeless Levitation Push The S&P Green For 2015?
Submitted by Tyler Durden on 12/23/2015 06:55 -0500With just a handful of trading sessions left in the year, this is how the major global markets look as 2015 is about to close. As of this moment, and in keeping with the Christmas spirit, the biggest question is whether the S&P500 will close green or red for the year.
Futures Rise, Drop, Then Rise Again In Illiquid Session After China Promises More Stimulus
Submitted by Tyler Durden on 12/22/2015 06:55 -0500- Apple
- Australia
- Bond
- Carry Trade
- China
- Citigroup
- Copper
- Credit Suisse
- Crude
- Crude Oil
- Deutsche Bank
- Falcon
- FINRA
- fixed
- Ford
- France
- goldman sachs
- Goldman Sachs
- High Yield
- Hong Kong
- Housing Market
- Japan
- Monetary Policy
- national security
- Netherlands
- Newspaper
- Nikkei
- Personal Consumption
- Price Action
- Redstone
- Richmond Fed
- Unemployment
- Yuan
It has been a seesaw session with U.S. stock index futures following their dramatic buying burst in the last half hour of market trading yesterday by first rising, then falling, then rising again alongside European equities both driven almost tick for tick with even the smallest move in the carry trade of choice, the USDJPY, even as Asian shares trade near intraday highs after China’s leaders signaled they will take further steps to support growth.
Futures Jump After Friday Drubbing, Despite Brent Sliding To Fresh 11 Year Lows, Spanish Political Uncertainty
Submitted by Tyler Durden on 12/21/2015 06:55 -0500- Aussie
- BOE
- Boeing
- Bond
- China
- Conference Board
- Consumer Confidence
- Consumer Sentiment
- Copenhagen
- Copper
- CPI
- Crude
- Crude Oil
- Danske Bank
- fixed
- France
- Gilts
- Housing Starts
- Initial Jobless Claims
- Japan
- Jim Reid
- Michigan
- Monetary Policy
- Netherlands
- New Home Sales
- Nikkei
- Nomura
- Output Gap
- Personal Income
- Price Action
- recovery
- Richmond Fed
- University Of Michigan
- Yuan
In a weekend of very little macro newsflow facilitated by the release of the latest Star Wars sequel, the biggest political and economic event was the Spanish general election which confirmed the end of the PP-PSOE political duopoly at national level. As a result, there was some early underperformance in SPGBs and initial equity weakness across European stocks, which however was promptly offset and at last check the Stoxx 600 was up 0.4% to 363, with US equity futures up nearly 1% after Friday's oversold drubbing. In other key news, the commodity slide continues with Brent Oil dropping to a fresh 11-year low as futures fell as much as 2.2% in London after a 2.8% drop last week.
The Natural Gas Market Play
Submitted by EconMatters on 12/19/2015 16:52 -0500I am sure corporations, wildcatters and trading firms are all making business decisions based upon these low natural gas prices, and they are not from the bullish side of the equation.
Futures Slide As Quad-Witching Has A Violently Volatile Start After Massive BOJ FX Headfake; Oil Tumbles
Submitted by Tyler Durden on 12/18/2015 06:49 -0500- Australia
- Bank of Japan
- Beige Book
- Bond
- Central Banks
- China
- Copper
- CPI
- Crude
- Crude Oil
- default
- Economic Calendar
- Equity Markets
- Federal Reserve
- fixed
- France
- Germany
- headlines
- Hong Kong
- Hungary
- Initial Jobless Claims
- Japan
- Jim Reid
- Kuwait
- Markit
- Mexico
- Monetary Base
- Monetary Policy
- Natural Gas
- New Zealand
- Nikkei
- Norges Bank
- Philly Fed
- Precious Metals
- Price Action
- RANSquawk
- Real estate
- Sheldon Adelson
- Ukraine
- Volatility
- Yen
Following the latest BOJ statement, the market found itself wrongfooted assuming the BOJ was actually launching another episode of easing, sending the USDJPY soaring, until suddenly the realization swept the market that not only was the incremental action not really material, but even Kuroda spoke shortly after the announcement, confirming that "today's decision wasn't additional easing." The result was one of the biggest FX headfakes in recent days, perhaps on par with that from December 4 when EUR shorts were crushed, as the biggest carry pair first soared then tumbled and since the Yen correlation drives so many risk assets, also pulled down not only Japanese stocks but US equity futures.
Global Stocks, Futures Continue Surge On Lingering Rate Hike Euphoria
Submitted by Tyler Durden on 12/17/2015 06:59 -0500- Aussie
- Boeing
- Bond
- Brazil
- Centerbridge
- China
- Conference Board
- Continuing Claims
- Copper
- CPI
- Crude
- Crude Oil
- Equity Markets
- Fed Fund Futures
- Fitch
- fixed
- Germany
- Gilts
- High Yield
- Housing Starts
- India
- Initial Jobless Claims
- Japan
- Jim Reid
- Monetary Policy
- Nat Gas
- New Zealand
- Nikkei
- Norges Bank
- Philly Fed
- Price Action
- RANSquawk
- Trade Deficit
- Unemployment
- Yen
Heading into the Fed's first "dovish" rate hike in nearly a decade, the consensus was two-fold: as a result of relentless telegraphing of the Fed's intentions, the hike is priced in, and it will be a "dovish" hike, with the Fed lowering its forecast for the number of hikes over the next year. Consensus was once again wrong on both accounts: first the rate hike was far more hawkish than most had expected (see previous post), and - judging by the surge in Asian, European stocks and US equity futures - the "market" simply is enamored with such hawkish hikes which will soon soak up trillions in liquidity from the financial system.
The Fed Hike Will Unleash A Monster Dollar Rally Goldman Predicts; Merrill Disagrees
Submitted by Tyler Durden on 12/16/2015 21:27 -0500The "long dollar" trade may be the most crowded ever but that doesn't mean there aren't disagreements where the greenback goes from here, especially after the Fed's historic first rate hike.




