As of Sunday night writing the following points summarize where we are:
Talks breakdown Greece’s Tsipras calls for a July 5th referendum vote enraging EU creditors The ECB freezes the emergency funding lifeline Greece will default on their E1.6Bn IMF payment due Greece closes its markets this week Greece closes banks and imposes capital controls until […]
As sentiment in Europe is hurt by the rising rates curve and a stronger currency we ask is the run in Germany over?
So much for US recession, NFP in the US was well beyond consensus and puts into play where people were positioned even on rates after yesterday’s opening hours of pain but easing back by the end of the day.
Trade the range on the major currencies except the Yen. The Euro will not go through parity on this run despite momentum now which seems like it is almost as bad as it was in mid-March as we hit 1.o519 lows. The Dollar will have a move higher but not to 110 on this run. […]
We start the week after a long holiday weekend in the States with a quick review of key macro charts and themes for markets.
Today I feel it’s important to repeat the same things we have emphasized over the last few weeks on rates and the currency moves.
Rates: You better be following rates right now ( and most of the time!) to get your direction for equities. We have been in a hyper rate sensitive period with outsized moves coming effectively with no data or CB activity to support.
As goes the Dollar as goes volatility and risk assets. After Whirlybird said the Dollar had room to weaken (sort of) we got validation of the call we made BEFORE the Fed: “95 before 110” was the trade named (see Emerging Money last week).
Markets rallying and sending VIX lower but watching ley levels as we remain elevated through the Fed this week. I want to see the VIX close below 15 today but it’s difficult to expect vol to disappear no matter what the Fed tells us on Wednesday.
WTI Crude Oil (USO, quote) spot price ticks slightly lower this morning as commodity traders have to wait an additional day for the department of energy’s inventory report. Traders will be watching closely the American Petroleum Institute (API) Weekly Crude Stock report scheduled for today after the close.
- 7 South Koreans killed in NE China road accidentSource: China.orgPublished on 2015-07-02
- Children paid to be orphans in cash scamSource: China.orgPublished on 2015-07-02
- Goose that lays the golden eggs is being starved to deathSource: South Africa Times Live – newsPublished on 2015-07-02
- The Big Read: When African solutions failSource: South Africa Times Live – newsPublished on 2015-07-02
- Enough tyranny, for Pete’s sakeSource: South Africa Times Live – newsPublished on 2015-07-02
- Yankee dogs will love thisSource: South Africa Times Live – newsPublished on 2015-07-02
- Socially acceptable: 5 Internet stocks to buySource: Fast MoneyPublished on 2015-07-01
- Your first trade for Thursday, July 2Source: Fast MoneyPublished on 2015-07-01
- Fast Money Final Trade: AAPL, MCD, TLT & LVSSource: Fast MoneyPublished on 2015-07-01
- The odd jobs reportSource: Fast MoneyPublished on 2015-07-01
- Is China the real threat?Source: Fast MoneyPublished on 2015-07-01
- What’s ahead for social?Source: Fast MoneyPublished on 2015-07-01
- PayPal buys Xoom for $25/ share in cashSource: Fast MoneyPublished on 2015-07-01
- Tech breakout stocksSource: Fast MoneyPublished on 2015-07-01
- Not-so-Golden ArchesSource: Fast MoneyPublished on 2015-07-01
- 7 South Koreans killed in NE China road accident