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Finance 0
China’s Growth Miracle Runs Out Of Steam: Views From Pettis, Blackrock
Michael Pettis at China Financial Markets says, “China’s growth is running out of Steam.” Blackrock brushes off concern. On October 20, Blackrock global chief investment strategist, Richard Turnill, explained What cooling growth in China means for investors. “We see China’s growth rate slowing only to still-solid and more sustainable levels. The implications for investors? Growth in China should remain supportive of emerging market (EM) assets and risk assets in general.” Michael Pettis Michael Pettis at China Financial Markets says “China’s Growth Miracle Has Run Out of Steam”. Pettis’ vie... -
Finance 0
E Elliott Wave Analysis: GBPUSD Can See More Weakness, While EURUSD Higher Levels
The USD is mixed, slightly higher against the EUR, unchanged against the AUD and down against GBP which has been very volatile yesterday when firstly GBP fell but then turned out very strong after the UK denied earlier notes about 45-55 billion divorce bill. We see cable trading at 1.3400 and even high making a throw-over in an Elliott wave ending diagonal where we still need an impulsive drop towards 13200 before we may confirm a reversal. If we get a turn, a nice one, I would be interested to look for opportunities within downtrend. GBPUSD, 1h Regarding the EURUSD pair, we have seen price testing some interesting support at 1.1830/60 after ... -
Finance 0
South Africa ETFs In Focus On Rating Downgrade
The South African economy has been experiencing low demand for exports and going through political turmoil that has weighed on its economy’s growth. Sequentially, GDP declined an annualized 0.3% in the fourth quarter of 2016 and 0.7% in the first quarter of 2017. However, it grew 2.5% in the second quarter of 2017. Rating Downgrade S&P downgraded the country’s credit rating to junk status. It lowered South Africa’s local currency credit rating to BB+ from BBB. Moreover, the rating agency also lowered South Africa’s international debt rating by a notch to BB. S&P cited concerns over the country’s economic scenario and fears o... -
Finance 0
Markets Break Out Of Midday Anxiety
U.S. equities were solidly in the green, with the major indexes notching fresh highs, shrugging continued tax reform uncertainty and anxiety over North Korea’s latest missile test. The gains came courtesy of a 17-year high in Consumer Confidence, reports of record-breaking Cyber Monday figures, and a more than two-decade high in regional manufacturing activity. Treasury yields were slightly lower and the U.S. dollar gained ground, while crude oil prices fell ahead of Thursday’s OPEC meeting, and gold reversed to the downside. The Dow Jones Industrial Average (DJIA) jumped 256 points (1.1%) to 23,837, the S&P 500 Index rose 26 ... -
Finance 0
GBP/USD Breaks To A Two-Month High On Brexit Bill Deal Hopes
A report about the British government accepting to pay a high Brexit divorce bill sent the pound higher. And now it is taking another leg up. Pound/dollar is already trading at 1.3415 1.3428, the highest in around two months. An outline of the Brexit divorce bill is much closer to the EU demands of 60 billion euros and further from the 20 billion that the UK initially agreed to pay. The reports are talking about 45 to 55 billion, leaving some room for ambiguity. It is important to note that other thorny issues were not discussed: rights of citizens and the bigger question of the Irish border. While the Irish government did not collapse th... -
Finance 0
Bitcoin Breaks Records As Sterling Rallies
Bitcoin broke the $10,000 mark on Tuesday night, posting over 900 percent gains this year so far, the largest gain of all asset classes, as growing institutional demand for cryptocurrencies of all types continues to propel the markets upward. As of 2:15 p.m. HK/SIN on Wednesday, bitcoin was trading at $10,486.63 according to Coinbase, falling back from highs near $10,750 hit earlier in the session. Excitement around bitcoin’s surge has encouraged many people to shell out big bucks for the cryptocurrency, though many analysts cling steadfastly to the belief that bitcoin is in a bubble that may be about to burst. Causes for concern include t... -
Finance 0
Stocks To Trade: CBRE Group, Boeing, Owens Illinois
Wednesday’s stock picks Take a look at three trading ideas to prep you for the next trading session. Long CBRE Group (CBG) Long Boeing (BA) Short Owens Illinois (OI)... -
Finance 0
EC Inflation (Expectations) Corroborate Risk, Which Corroborates Inflation
On Thursday, the Bureau of Economic Analysis (BEA) will report on Personal Consumption and Personal Income (as well as the difference between those two, the Personal Savings Rate). Accompanying the economic figures will be the usual estimates for consumer prices, in this case the Federal Reserve’s preferred inflation gauge the PCE Deflator. There isn’t expected to be much good news for policymakers, though it is for struggling consumers. If inflation was about to explode higher especially in the form of wage rates due to the extremely low unemployment rate, it is quite interesting that not one market is pricing that scenario. Long-term ... -
Finance 0
US HY Credit Spreads – A Strategic Analysis
In this video we look at US HY Credit Spreads and provide a strategic analysis, and comment on how to think about timing this asset class.Specifically, the video walks you through a couple of slides of a recent edition of the Weekly Macro Themes report. In the video we provide an overview of how US High Yield credit spreads are low, and that it mirrors the trend seen in the VIX or volatility. We note that while inevitably credit spreads will one day rise and even blow-out like the extremes we saw during the financial crisis, it’s not as simple as saying spreads are “too low”, you have to be intelligent with the indicators y...
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