We are now within 5% of the critical 200 level on the CRB Index which has been a defining level historically for all that is bulky, soft, metal, and oily/gassy.
Emerging Money Audio Call March 12 – On the call today we discuss a pullback in volatility as the Dollar runs out of gas but the question is for how long?
Emerging Money Daily Audio Call March 11 – On the call today as we see a small bounce in DM, EM outperforms and some of this is currency related despite the DXY challenging 100.
I’ve been harping on European equities since late December. I have been right. But guess what, things have gotten even more lopsided in favor of EU allocations. If you are buying today, you don’t have the last 15 big figures lower in the Euro (or 12%) working against your USD based investment.
Emerging Money Daily Audio Call March 10 – On the call today we highlight that consensus in the market on how to approach the ultimate Fed tightening has no consensus.
Emerging Money Daily Audio Call March 9 – On the call today we discuss markets the day after Payroll numbers in the States devastated markets and expectations of Fed timing were clearly moved forward.
This morning’s price action in natural gas dropped over 4% despite last week’s draw of 228 billion cubic feet against analysts’ expectations of 222 billion cubic feet and 144 cubic feet the prior year.
On the call today we talk about how the extraordinary payroll number raises risks globally as the Dollar may overshoot to the upside with no other central banks ready to counter the tightening mode we have in the US. Emerging markets trade in sympathy with currencies stretching all time low levels but underlying markets contained and in some cases positive.
Today is an extraordinary day for macro driven by the U.S. Payroll number that many thought could be weaker based on recent weather conditions.