Emerging Money Daily Audio Call March 9 – On the call today we focused on crude oil which suddenly is becoming a problem for the market.
Awaiting the President’s State of the Union Address and Emerging Markets may be calling foul on the growth that has been talked up.
For effectively 5 years Japans 10year benchmark has traded below the 200dma taking with it yields around the world. Japanese institutional investors are one of the biggest groups of investors who influence the flow of large insurance, pension, endowment and municipal allocations.
Despite a rally back in the USD and the sudden recalibrated growth outlook for the world from Brexit, Commodities are picking up steam.
GLEN, X: Resource names may be building another round of momentum to take out recent highs after a sharp pullback took 25% off the run in names like US Steel.
RUSSELL (IWM): The Russell staged a big move off the lows at 960 and has been consolidating for a few weeks above the important 1075 level ( $108 in the $IWM).
Lots of talk today on Brazil and a potential move to the right with the (all white and all male) Michael Temer government moving into place. What’s clear is that the market locally has enjoyed the political change and maneuvering and hope of a new fiscal backdrop.
Investors need to look closely at the chart of the commodity index (CRB) for a fresh break of the 200dma to the upside that if sustained will be the first time the index has traded above this key technical level since August 2014 or just after the rout in oil began to gain steam.
Alibaba reports BMO tomorrow and is down 3% today on claims that the government regulator is concerned with fraud and oversight. Buy the dip?
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