Yen
Three Obvious Signs The Entire System Is Changing
Submitted by Tyler Durden on 10/12/2015 14:25 -0500
The US is in decline. The US government is overloaded with debt. The US financial system is losing is dominance. And even the banking institutions themselves are losing relevance. This isn’t bad news. It’s tremendously exciting.
Japanese Firms Admit Abenomics Failed, Government Now "Left Trying To Redistribute Wealth"
Submitted by Tyler Durden on 10/11/2015 19:10 -0500Do not believe in official statistics, Japanese retailers seem to be saying, as they cut earnings forecasts and warn of lackluster consumer spending, a key growth engine for Japan at a time when exports and factory output are stalling. Despite government statistics claining a 2.9% rise in household spending, Reuters reports Japanese retailers exclaimed "Consumer spending has ground to a halt," as Japan heads for a quintuple dip recession. Amid falling wages and higher costs, on apparel maker warned "shoppers are tightening their purse strings." The government's initial growth strategy did not really expand the pie, "now the government is simply left trying to redistribute wealth."
One Question Dominates: Correction or Reversal?
Submitted by Marc To Market on 10/11/2015 09:06 -0500- 8.5%
- Australian Dollar
- Auto Sales
- Bank of England
- Beige Book
- BOE
- Bollinger Bands
- Canadian Dollar
- Central Banks
- China
- Core CPI
- CPI
- CRB
- CRB Index
- Dell
- Department Of Energy
- Eurozone
- Federal Reserve
- Germany
- Global Economy
- Investor Sentiment
- Monetary Policy
- OPEC
- Quantitative Easing
- Real Interest Rates
- Reality
- recovery
- Technical Analysis
- Trade Balance
- Unemployment
- Volatility
- Yen
Correction continues, but it is only a correction.
Dollar Struggles; More Losses Likely Before Better Demand is Found
Submitted by Marc To Market on 10/10/2015 08:52 -0500Gains in the foreign currencies appears to be mostly short-covering rather than bottom-picking per se. In bigger picture the dollar is consolidating its earlier gains.
Biggest Weekly Stock Rally Since 2012 Continues Driven By Tumbling Dollar, Dovish Fed; Commodities Surge
Submitted by Tyler Durden on 10/09/2015 05:53 -0500- Australia
- Bank of Japan
- BOE
- Bond
- Carry Trade
- CDS
- China
- Citigroup
- Consumer Prices
- Copper
- Crude
- Crude Oil
- default
- Fed Funds Target
- fixed
- France
- Germany
- Glencore
- Initial Jobless Claims
- Japan
- Jim Reid
- Kazakhstan
- Middle East
- Monetary Policy
- Nikkei
- PIMCO
- ratings
- recovery
- San Francisco Fed
- Trade Balance
- Wholesale Inventories
- Yen
- Yuan
The global risk on mood (which is really anything but, and is merely an unprecedented short covering squeeze as we will report momentarily) launched by an abysmal jobs report one week ago and "validated" yesterday by the surprisingly dovish FOMC minutes, which said nothing new but merely confirmed what most knew, namely that a rate hike is almost certain to not occur until mid-2016 if ever, and accelerated by a Fed-driven collapse in the dollar which overnight has led to a historic 3.4% move in the Indonesian Rupiah the most since 2008, has pushed global stocks even higher in their biggest weekly rally since 2012, despite the start of an earnings season where virtually every single company reporting so far has stumbled on earnings reports that were far worse than even gloomy consensus had expected.
"They're Converging To Dire Levels!": SocGen's Edwards Delivers Critical Warning On Inflation Expectations
Submitted by Tyler Durden on 10/07/2015 17:00 -0500"The collapse in inflation expectations tells us that the market believes the central banks, despite their monetary profligacy, are failing to prevent the western economies from turning Japanese, and thus at risk of repeating their devastating slide into outright deflation in the 1990s."
Oct 8 - Moody's Maintains US Credit Rating And Stable Outlook
Submitted by Pivotfarm on 10/07/2015 15:54 -0500News That Matters
Shadow Over Asia
Submitted by Vitaliy Katsenelson on 10/07/2015 11:23 -0500- Australia
- Borrowing Costs
- Brazil
- China
- Commercial Real Estate
- Copper
- Corruption
- Demographics
- ETC
- European Union
- fixed
- Germany
- Global Economy
- Great Depression
- Housing Prices
- Hyperinflation
- Japan
- Market Share
- Ordos
- Purchasing Power
- Real estate
- Recession
- Renminbi
- Savings Rate
- Transparency
- Value Investing
- Wall Street Journal
- Yen
Having government control over the levers of the economy can have advantages. For example, by taking prompt action, the Chinese government was able to pull the economy out of the recession remarkably fast, basically by fire-housing the stimulus package that was equivalent to 12% GDP. That’s the advantage. The only problem is that these kinds of short-term advantages come with long-term, painful consequences.
Frontrunning: October 7
Submitted by Tyler Durden on 10/07/2015 06:34 -0500- How Iranian general plotted out Syrian assault in Moscow (Reuters)
- China FX reserves post record quarterly fall as cenbank steps up yuan support (Reuters)
- MSF calls for independent inquiry into U.S. attack on Afghan hospital (Reuters)
- Yen Advances as Bank of Japan Refrains From Adding to Stimulus (Reuters)
- Abu Dhabi Said to Explore Asset Sales After Slump in Oil Price (BBG)
- U.S. Oil Approaching $50 Boosts Stocks as Emerging Markets Surge (BBG)
Futures Jump Despite BOJ Disappointment, Weak Earnings Offset By Commodities Levitation
Submitted by Tyler Durden on 10/07/2015 05:56 -0500The big overnight story was certainly the BOJ's announcement at 11pm Eastern whether or not the Japanese central bank would boost QE. This is how we previewed it: "now all eyes to the BOJ when tonight around 11pm Eastern, Japan's central bank is expected do and say precisely... nothing." Sure enough, nothing is precisely what the BOJ delivered, leading to a big, if brief tumble in the USDJPY suggesting many were expecting at least a little tip from the BOJ.
Oct 7 - IMF Warns On Worst Global Growth Since Financial Crisis
Submitted by Pivotfarm on 10/06/2015 16:22 -0500News That Matters
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Earnings Still Matter
Submitted by Tim Knight from Slope of Hope on 10/06/2015 16:03 -0500As we head into another earnings season, the bulls better pray to whatever pagan gods they worship that company after company magically defy the downturn that the economy is quite obviously entering.
Yuan Rising: China Surpasses Japan To Claim Number Four Spot In Most Used Global Currencies
Submitted by Tyler Durden on 10/06/2015 06:48 -0500"The data are positive for the probability of the yuan getting into the SDR basket. It shows that the so-called devaluation in August, which wasn’t massive in value, hasn’t driven people away from using the yuan."
Frontrunning: October 6
Submitted by Tyler Durden on 10/06/2015 06:27 -0500- Asian shares rise on fading Fed rate views (Reuters)
- U.S. Equity Futures Fall, Risking S&P 500 Rally as Copper Slides (BBG)
- More biotech pain, this time from the WSJ: For Prescription Drug Makers, Price Increases Drive Revenue (WSJ)
- VW Will Delay or Cancel Non-Essential Investments Due to Scandal (BBG)
- Russia Rejects No-Fly Zone Over Syria as Clerics Urge Reprisals (BBG)
- Historic Pacific trade deal faces skeptics in U.S. Congress (Reuters)
- German Factory Orders Unexpectedly Fall Amid Economic Risks (BBG)
Futures Fail To Surge Despite Continuing Onsalught Of Poor Economic Data
Submitted by Tyler Durden on 10/06/2015 05:56 -0500- Abenomics
- Australia
- Bank of England
- Bank of Japan
- Bear Market
- Bond
- Central Banks
- China
- Copper
- Crude
- Crude Oil
- Economic Calendar
- Equity Markets
- Fail
- Ford
- France
- Germany
- Gilts
- Glencore
- Global Economy
- headlines
- High Yield
- Hong Kong
- Italy
- Jan Hatzius
- Japan
- Jim Reid
- Market Conditions
- Monetary Policy
- Morgan Stanley
- Nikkei
- Pepsi
- Price Action
- SocGen
- Trade Balance
- Trade Deficit
- Volkswagen
- Yen
- Yuan
The best headline to summarize what happened in the early part of the overnight session was the following from Bloomberg: "Asian stocks extend global rally on stimulus bets." And following the abysmal data releases from the past three days confirming that the latest centrally-planned attempt to kickstart the global economy has failed, overnight we got even more bad data, first in the form of Australia's trade deficit, and then Germany's factory orders which bombed, and which as Goldman said "seems to reflect genuine weakness in China and emerging markets in general and this will weigh on the German manufacturing sector."






