Equities Act Weak, Confused Following Oscar-Worthy Good Cop, Bad Cop Performance By The Fed

As non-collocated, carbon-based traders walk in today, they are once again greeted by a very unfamiliar shade of green in the equity futures market. There has not been a specific catalyst for another day of equity weakness however it started in Asia, w… [...]

Ten Macro Thoughts for the Week Ahead

1.  The monthly establishment survey of the US employment report was stronger than expected and sufficient to lift the 3-month private sector average (190k) above the 6-month average (175k).  Yet it is little different from the 12-month avera… [...]

With Less Than A Day Until The X-Date, Hope And Optimism Remain If Not Much Else

It’s gotten beyond silly: with less than a day to go until the first X-Date, beyond which if Jack Lew is correct (he isn’t) all hell will break loose if the US doesn’t have a debt deal in place, stocks couldn’t care less, Bills continue to sell off, ca… [...]

Another Data Leak: Citi Edition

Think data leaks, in which the FOMC sends minutes to its banker supervisors a day in advance, where HFT algos pay millions to get key data to their collocated servers 10 milliseconds early, where journalists freely breach embargos and/or “secure” gover… [...]

Drivers for the Week Ahead

The continued partial shutdown of the US government and the risk of default remains the overriding consideration in the global capital markets. There appears to have been limited progress over the weekend.     This could spark some disappoint… [...]

Global Markets Unchanged As Obama Pause Does Not Bring Levitation; Apple Crumbles

Despite earlier comments from Obama on Tuesday night, who called for a pause in authorizing military strikes on Syria, which led to another drop in crude prices overnight, the drop has since reversed and both WTI and Brent Crude contracts are trading i… [...]

Key Events And Issues In The Coming Week

On the global event front, in the week ahead, China retail sales and IP data will be important. In addition, the Indonesia MPC will meet on Thursday. In the intermeeting period, Bank Indonesia hiked policy rates by 50bps to defend its currency and we e… [...]

Sterling is Pounded by Dovish BOE Minutes

Sterling is has eclipsed the yen as the main focus in the foreign exchange market. The surprising news that has kicked it to fresh multi-month low was that the BOE is closer to easing policy than has been suspected. While it was a unanimous decision to… [...]

Dollar and Yen Remain Soft

The US dollar and yen remain soft.  The news stream has encouraged the so-called risk-on trade.  The Greek debt buyback appears to have gone well enough that it will get dollop of aid.  Spain reportedly received 40 bln euros of bank aid… [...]

Complete Event Calendar For The Coming Week And Through November

A new week begins. Here are the major global market-moving events to look forward to for both the next week, and for the remainder of October and November. read more [...]