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Fed Kocherlakota: 2015 Rate Rise Not Appropriate, Open To More Stimulus
EMOTION MOVING MARKETS NOW: 11/100 EXTREME FEAR
PREVIOUS CLOSE: 12/100 EXTREME FEAR
ONE WEEK AGO: 5/100 EXTREME FEAR
ONE MONTH AGO: 21/100 EXTREME FEAR
ONE YEAR AGO: 33/100 FEAR
Put and Call Options: EXTREME FEAR During the last five trading days, volume in put options has lagged volume in call options by 22.79% as investors make bullish bets in their portfolios. However, this is still among the highest levels of put buying seen during the last two years, indicating extreme fear on the part of investors.
Market Volatility: FEAR The CBOE Volatility Index (VIX) is at 28.99, 77.76% above its 50-day moving average and indicates that investors are concerned about the near-term values of their portfolios.
Stock Price Strength: EXTREME FEAR The number of stocks hitting 52-week lows is slightly greater than the number hitting highs and is at the lower end of its range, indicating extreme fear.
PIVOT POINTS
EURUSD | GBPUSD | USDJPY | USDCAD | AUDUSD | EURJPY | EURCHF | EURGBP| GBPJPY | NZDUSD | USDCHF | EURAUD | AUDJPY
S&P 500 (ES) | NASDAQ 100 (NQ) | DOW 30 (YM) | RUSSELL 2000 (TF) | Euro (6E) |Pound (6B)
EUROSTOXX 50 (FESX) | DAX 30 (FDAX) | BOBL (FGBM) | SCHATZ (FGBS) | BUND (FGBL)
MEME OF THE DAY – I JUST LOVE MY NEW SWEATER
UNUSUAL ACTIVITY
WLL vol pop to highs Activity in the SEP 17 CALLS 1800+ @$1.30
LL Jan 15 PUT Activity 10k @$3.30 on offer
SSTK SEP 35 CALLS 1300+ @$.75 ON offer
TCK Nov 9 CALL Activity @$.25 right by offer 5000 Contracts
RE Director Purchase 5,000 @$169.5 Purchase 5,000 @$170.00
HEADLINES
Fed VC Fischer: Still too early to tell if September hike will happen
Fed Kocherlakota: 2015 rate rise not appropriate, open to more stimulus
Fed Mester: US economy can support rate increase
Fed Bullard: Rate hike would signal confidence, unfazed by mkt turmoil
Fed's Lockhart: Market vols makes him less certain on Sept hike
Atlanta Fed GDPNow tracker updated to 1.2% (prev. 1.4%)
US Personal Income (MoM) Jul: 0.40% (est 0.40%; prev 0.40%)
US Personal Spending (MoM) Jul: 0.30% (est 0.40%; rev prev 0.30%)
US PCE Core (YoY) Jul: 1.20% (est 1.30%; prev 1.30%)
German CPI YoY (Aug P): 0.2% (est 0.10%, prev 0.20%)
German CPI MoM (Aug P): 0% (est -0.10%, prev 0.20%)
SNB Jordan: Swiss franc significantly overvalued, ready to intervene
GOVERNMENTS/CENTRAL BANKS
Fed VC Fischer: Still too early to tell if September hike will happen --CNBC
Fed Kocherlakota: 2015 rate rise not appropriate, open to more stimulus --CNBC
Kocherlakota would prefer a hike in second half of 2016 --FBN
Fed Mester: US economy can support rate increase --WSJ
Fed Bullard: US rate hike would signal confidence --FT
Fed Bullard unfazed by market turmoil --Rtrs
Fed's Lockhart: Market vols makes him less certain on Sept hike, though every meeting is live --MNI
Atlanta Fed GDPNow tracker updated to 1.2% (prev. 1.4%)
SNB Jordan: Swiss franc significantly overvalued
SNB Jordan: SNB stands ready to intervene
Japan EcoMin Amari: Canada elections, US primaries, may affect momentum on TPP talks --Kyodo
Greece's Syriza to win election but face setback, polls show --Rtrs
GEOPOLITICS
Merkel, Hollande, Putin plan weekend call on Ukraine --BBG
FIXED INCOME
BONDS COMMENT: Reflation threat to bonds as money supply catches fire in Europe --Telegraph
Two departures in Swiss debt capital markets --IFR
Merck jumps in first with jumbo M&A trade --IFR
COMMENT: Treasury Market Is Offering Stock Picks: AT&T, Verizon Are a Buy --WSJ
FX
USD: Dollar on track to finish turbulent week higher against euro, yen --MW
CAD: USDCAD retreats from as oil jumps to $45 --FXStreet
GBP: Pound falls vs euro as UK growth slows in Q2 --BBG
CNY COMMENT: China's ongoing FX trilemma and its possible consequences --Alphaville
AUD: Aussie lifted by commodities --Australian
NZD: Kiwi heading for 3.1pc weekly drop after China slump --NZH
ENERGY/COMMODITIES
CRUDE: WTI futures settle 6.25% higher at $45.22 per barrel --Livesquawk
CRUDE: Brent futures setlle 5.25% higher at $50.05 per barrel --Livesquawk
CRUDE: Arab Opec producers brace for oil-price weakness for rest of 2015 --Rtrs
CRUDE: Crude short squeezed --Forex.com
METALS: Gold sets up for first gain in five sessions --MW
EQUITIES
FLOW: US funds cut recommended global equity exposure again --Rtrs
M&A: Mylan shareholders back Perrigo takeover, tender offer up next --Rrts
BANKS: BofA shareholders should vote to separate the CEO and chairman roles --BBG
GAMING: Battle for Bwin reflects rising stakes --FT
TRADING: Charles Schwab trading system issue resolved --FT
TECH: Facebook must obey German law even if free speech curtailed --Rtrs
EMERGING MARKETS
CHINA: Citi: China Will Respond Too Late to Avoid Recession --BBG
CHINA: POLL: PBOC to cut rates again by end of Dec --ForexLive
CHINA: PBOC Conducted CNY60 Bln 7-Day SLO Op. At 2.35% Today --BBG
BRAZIL: Brazil economy dips more than expected --FT
S&P affirms Ukraine CC, outlook still negative --Livesquawk
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It seems to me that the FED has NO CONFIDENCE as their message has become somewhat fragmented and schizophrenic.
It is without affective leadership, a ship wihout a rudder, without a captain, with a panicked crew, set about of the turmoil of a stormy economic ocean.
It seems about to founder as it is taking on water at an ever increasing rate. (That is an allusion to the swelling size of their Balance Sheet for the unaware.)
If they refuse to raise Interest Rates then they have lost all credibility. If they raise Interest Rates then they will CRATER THE ECONOMY.
They would have been better to restate Bernanke's unusually frank statement that normalization will not be seen in his lifetime. Because that is the unfortunate TRUTH. The US Economy is on its last dying gasps. There is no market.
The question is how long before the RoW follows China and starts dumping USTs
in response to what will be the FedRes lack of credibility.
Its the full faith and credibility of the US backing the dollar.Credit = credibility.
I don't think we will have long to wait to find out the answer.There is only one place they
can go in the end,everything else is a derrvive, or a derivative of a derivative of USD's.
Don't these clowns have any tricks up their sleeve other than "PRINT MOAR"?
Even my dead dog knows more tricks than this.
Well they are dead. There are no more tricks. We are out of time. Read below...
Yes. It's a 'when', not an 'if'.
While they are clearly educated fools...the course of action is not by accident, the inevitable transfer of wealth is by design.
Hedge accordingly.