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“This is Groundhog Day”: Spanish Stocks Battered By Catalan Vote, Bitcoin Crashes

Spanish stocks and the euro fell, while Spanish government bond yields hit their highest levels in over a month after Catalan secessionists delivered an unexpected blow to the government of Spanish PM Rajoy by winning the Catalan regional election. Meanwhile across the Atlantic, U.S. equity futures and the dollar rose on the last trading session […]

FX Weekly Preview: Dollar Squeeze A Growing Concern, But Longer Term Bears Likely To Temper It

Submitted by Shant Movsesian and Rajan Dhall MSTA from fxdailyterminal.com Over the past week, the argument that the tax reform aimed at corporates specifically could prompt a period of USD repatriation – much like an amnesty – has been growing in sentiment, and whether one believes in this, remains an upside risk we shouldn’t ignore.  […]

European, Asian Stocks Slide But US Futures Rebound As Tax Deal Fears Ease

U.S. equity index futures point to a higher open, having rebounded some 10 points off session lows with the VIX stuck on the edge between single and double digits, while European and Asian shares decline as investors assess central banks’ shift toward tighter monetary policy and concern over tax overhaul ahead of final plan.  It […]

“Loonie Longs Are Set For A Painful Dose Of Reality”: Trader

Is all hell about to breaks loose for Loonie longs? Yesterday, Bank of America released a note titled simply enough “CAD longs at risk”, in which it said that “according to our liquid cross border flow (LCBF) data, hedge funds and real money now appear to be in the process of selling out of extended […]

This Time Is Different – Part II: What Bitcoin Really Is

Authored by Mark Jeftovic via Medium.com, To me and many others, bitcoin is not a technical revolution as much as it is a triumph of political and economic incentives. -Two Bit Idiot   “Systems like Ethereum (and Bitcoin and NXT, and Bitshares, etc) are a fundamentally new class of cryptoeconomic organisms?—?decentralized, jurisdictionless entities that exist […]

FX Weekly Preview: Looking For A Rise In Vol As The Fed Finally Makes Their Move – So We Can All Move On

Submitted by Rajan Dhall MSTA and Shant Movsesian from fxdailyterminal.com In the absence of key economic data, we tend to see heightened levels of containment in the FX markets, where the heavy presence of system (algo) traders require constant direction in order to drive price action one way or the other.  We have also been […]

Asian Market Rout Goes Global On Tech, Tax And Government Shutdown Tremors

A selloff which started in Asia, driven by renewed liquidation of Chinese and Hong Kong tech stocks and accelerated by weaker metal prices which pushed the Shanghai Composite below a key support and to 4 month lows… … which sent the Nikkei to its worst day since March and the second worst day of the […]

UBS Unveils Its Top 5 Themes And 19 Trades For 2018

Coming in a little late to the game, UBS today released its top 5 themes and 19 trades for 2018. Not surprising from the bank whose base case S&P forecast is 2,900 one year from now (with potential upside to 3,200), and who just told CNBC that “valuations are still somewhat cheap”, the bank is […]

FX Weekly Preview: Tax Cuts, Rising Debt, Fed Hikes And More “Fake” News; USD Vol Rising

Submitted by Shant Movsesian and Rajan Dhall MSTA fxdailyterminal.com After a week when little other than politics has been 'running' the currency and rates markets, we expect more of the same but with the (now) backdrop of tier one data in the US to look to towards the latter end of this week.  US payrolls […]

Stocks Hit Record Highs As Tax Hype Trumps Nuclear Doomsday Fears

Wholesale inventories plunge and Kim shoots off some missiles… but Powell panders to TBTF banks and GOP pushes tax bill = so buy mortimer buy…   Overnight saw The National Team step in and save China…   But today's market action was dominated by the usual opening idiocy, tax-reform headlines, Jerome Powell comments, and North […]

FX Weekly Preview: EUR Bursts Higher Again As Year-End Call For 1.2000 Return

Submitted by By Shant Movsesian and Rajan Dhall MSTA of FXdailyterminal.com At the very start of the year, we recall the chorus of projections for EUR/USD to fall below parity, warranted by the euphoria over the Trump administration’s plans for a tax overhaul alongside the reform plans for healthcare, and allied to the assumption that […]

Asian Stocks Smash Records; Dollar Slides As Crude Surges To July 2015 Highs

Global shares hit another record high on Wednesday, propelled higher by what increasingly more call (ir)rational exuberance, and investors’ unflagging enthusiasm for tech stocks. That said, S&P futures are unchanged the morning before Thanksgiving (at least before the market open ramp), as are European stocks (Stoxx 600 is flat), despite the euphoria in the Asian […]

Peso, Loonie Spike On Positive NAFTA News

With NAFTA negotiations currently taking place, and NAFTA currencies very sensitive to every headline, both the Peso and Loonie suddenly spiked on a Bloomberg headline that suggests that talks just may be progessing in a favorable fashion: NAFTA DEAL NEAR ON TELECOM, ENERGY, E-COMMERCE:MEX BUSINESS REP Some additional color from Bloomberg: Mexico sees the nations […]

FX Weekly Preview: EUR Darts Back To Uptrend, But Can It Last

Submitted by Shant Movsesian and Rajan Dhall MSTA of fxdailyterminal.com The key move in the FX majors last week as the upturn in EUR/USD, where the first key area of support on the downside at 1.1500-1.1625 held well to generate the move up into the mid-upper 1.1800's.  In the previous week we also asked whether […]

Gold Gains As Stocks Slide, Yield Curve Crashes, & Dollar Dumps

Economic Data continues to surprise to the upside (compared to what had been terrible expectations)…is this as good as it gets? But credit, the yield curve, and now stocks are not loving it…   Small Caps were the only major index green today…   The Dow and S&P 500- fell for the 2nd week in […]