Take a look at the TSE Mothers Index which is a market cap weighted index of high growth and “emerging stocks” (early stage companies) in Japan.
We’ve seen amazing turns in emerging market currencies over the last few sessions with gap-type moves in ZAR, BRL, PLN, and RUB, even as the dollar holds its ground.
The chart of the HUI looks interesting.
Gold: What’s not to like about this chart? Remember the European Union implosion with overall diversification of central banks was 75% of the reason behind the rally for gold until the trend was broken, with the other 25% being inflation.
We just saw an “outside reversal day” looking at both A shares and the Shanghai Composite Index.
Late into European the U.S. dollar retreated off the a 2 ½ year high against the Japanese yen after Japan’s Economy Minister, Akira Amari remarks that a weaker yen could possibly have a negative impact on Japan’s economy by increasing import prices.
The Bank for International Settlements has an interesting report out comparing lending to emerging markets in 2011 against the environment after the collapse of Lehman Brothers in 2008. Both periods saw a contraction in lending but for different reasons.