Tag Archive: newslettersent

Cool Video: Chat with the FT’s John Authers

2016-11-11

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2016-11-11

Stumped
I was just as surprised as anyone by the election outcome. The initial market reaction was not as surprising, but the dramatic reversal was. About a dozen hours after the election was called, John Authers from the Financial Times came to my office and we chatted. Check out the cool video here.

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FX Daily, November 10: US Dollar, Equities, and Commodities Firmer as Reflation Trade Takes Hold

2016-11-10

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2016-11-10

FX Performance, November 10 2016 Movers and Shakers
GBP/CHF rates spiked by almost two cents during Wednesday’s trading, providing those clients holding Sterling with some of the best rates they’ve seen in the past few weeks. This move came following confirmation that Donald Trump had won the race for the White House, news which sent shockwaves through the market. How the outcome will affect the global markets is difficult to analyse at this point but could yesterday’s positive spike indicate better...

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Federal Department of Finance and SNB enter new distribution agreement

2016-11-10

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2016-11-10

Swiss National Bank
The Federal Department of Finance (FDF) and the Swiss National Bank (SNB) have signed a new agreement regarding the SNB’s profit distribution for 2016 to 2020. Subject to a positive distribution reserve, the SNB will in future pay CHF 1 billion p.a. to the Confederation and cantons, as was previously the case. In future, however, omitted distributions will be compensated for in subsequent years if the distribution reserve allows this.

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Gold Price Skyrockets in India after Currency Ban

2016-11-10

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2016-11-10

Google Search by Indian
As I write this in the morning of 9th November 2016, there are huge lines forming outside gold shops in India — and gold traded heavily until late into the night yesterday. Depending on who you ask, the retail price of gold has gone up between 15% and 20% within the last 10 hours.

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China Update

2016-11-10

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2016-11-10

China
The evolving political situation in China is worth monitoring. China's trade surplus with the US has fallen this year. It has been roughly 20 years since China was formally labeled a currency manipulator. Trump has indicated he would do so.

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Who Lost: A Biased Media, Pundits, Pollsters, Political Parties, Warmongers, the Corporatocracy, Pay-to-Play Grifters, Neoliberals

2016-11-10

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2016-11-10

Corporatocracy
Let's start with the Corporatocracy, which expected to once again wield unlimited influence by funding political campaigns with millions of dollars in contributions and speaking fees. A biased mainstream media. My mom-in-law was watching CBS all night, so that's what we watched. All the pundits/anchors spoke in the hushed tones of a funeral.

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Gold Surges Post-Trump, Nears Heaviest Volume Day Ever

2016-11-09

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2016-11-09

Gold Flash Crash
Gold futures had their heaviest day of trading during April 2013 when a mysterious flash crash sent the precious metal collapsing with no clear fundamental/news catalyst. In June, Brexit sparked massive volume buying in the barbarous relic, but overnight, as a Trump victory became more and more of a reality, gold futures are approaching their busiest day ever.

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FX Daily, November 09: Mourning in America?

2016-11-09

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2016-11-09

FX Performance, November 09 2016 Movers and Shakers
Global capital markets have been roiled by Trump's stunning victory Swiss National Bank's Andrea Maechler promised interventions for the case that Trump wins the elections. It was probably not necessary. Only the EUR/CHF fell to 1.0753. Strangely the dollar and markets recovered.

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Swiss government opposes initiative to transform monetary system

2016-11-09

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2016-11-09

SNB money supply initiative
The Swiss government urged rejection of a popular initiative that would transform the monetary system and end fractional-reserve banking, according to its dispatch to Parliament. The measure seeks to put the central bank solely in charge of money supply and forbid commercial banks from granting loans that aren’t fully backed by deposits, effectively ending the way banking has been conducted for centuries.

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Europe stocks split on Trump win with pharma gaining

2016-11-09

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2016-11-09

Pharma
The region’s largest industry group headed for its biggest jump in more than 14 months, tempering losses for equity benchmarks after Donald Trump won the race to govern the region’s biggest export market. Novo Nordisk A/S and Shire Plc rose more than 5 percent, after investors punished the shares in recent weeks amid disappointing earnings and speculation Hillary Clinton would push for drug-price controls as president. Citigroup Inc. had cut its...

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Cool Video: Bloomberg Interview – Peso, Equities, Yuan

2016-11-08

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2016-11-08

Mark Chandler
Even before the my polling station opened today, I had the privilege of being on Bloomberg Surveillance today with Gina Cervetti and Tom Keene. We talk about a wide range of issues directly and tangentially related to the US election. We discuss the outcome the market appears to be discounting.

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We’re All Hedge Funds Now – Central Banks Become World’s Biggest Stock Speculators

2016-11-08

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2016-11-08

CBS
At first, the idea of central banks intervening in the equity markets was probably seen even by its fans as a temporary measure. But that’s not how government power grabs work. Control once acquired is hard for politicians and their bureaucrats to give up. Which means recent events are completely predictable.

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Romanticizing the Gig

2016-11-08

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2016-11-08

Humanostrich
Gigs are part of the new lexicon for a long existing phenomenon. It is largely but not solely a capital offensive to lower labor input costs. There may be short-run advantages but long-term challenges from the growth of the gig or contingent workforce.

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FX Daily, November 08: Consolidation Featured as Market Catches and Holds Breath

2016-11-08

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2016-11-08

FX Performance, November 08 2016 Movers and Shakers
The equity markets snapped their losing streak yesterday and are consolidating today. The US dollar is narrowly mixed. The euro and sterling are slightly firmer, but well within yesterday's ranges. The dollar-bloc is a bit lower, and once again the Australian dollar is struggling to sustain moves above $0.7700.

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THIS Time A Swiss Franc Hedge Makes More Sense

2016-11-08

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2016-11-08

Swiss Franc, Money Market Diverge
Money markets and the Swiss franc have diverged despite a presumed increase in event risk from the U.S. Presidential election. Moreover, shorts against the Swiss franc have risen. This surprising divergence opens up a presumed opportunity use the franc as a hedge against a surprise outcome from the election. This time I agree with the strategy even as I suspect that, once again, any subsequent incremental strength in the Swiss franc will be...

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Stock Market Volatility, Gold and the Election

2016-11-08

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2016-11-08

Comey and the Trio Infernal
Before this Monday, the S&P 500 Index went down nine days in a row. While this was almost unprecedented (or in any case, a very rare event) the decline was quite small overall. The timing of the pullback and the subsequent strong rebound on Monday suggests that Mr.

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Major Currency Pairs & The Election (Video)

2016-11-08

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2016-11-08

Foreign Exchange
We focus on the Election effects regarding the major currency pairs and the US Dollar in this video. Check out the Swiss Franc and the Mexican Peso Price Action after the election. This election has probably been great for CNN`s ratings, that would be a short after the election cycle is over.

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Gold Always Wins

2016-11-08

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2016-11-08

Gold Coins Money
Keith Weiner's weekly look on Gold. Gold and silver prices, Gold-Silver Price Ratio, Gold basis and co-basis and the dollar price, Silver basis and co-basis and the dollar price.

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Emerging Markets: Week Ahead Preview

2016-11-08

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2016-11-08

Planet Earth
EM should trade firmer this week on news over the weekend that the FBI said its conclusion on Clinton’s emails remained unchanged. That should lift the cloud of suspicion that grew when the FBI said new emails had been uncovered. With risk appetite likely to rebound a bit, the Mexican peso should benefit the most as the week gets under way.

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FX Daily, November 07: Dollar Stabilizing After Bounce

2016-11-07

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2016-11-07

FX Performance, November 07 2016 Movers and Shakers
The DAX also gapped lower before the weekend and gapped higher today. It is stalling just ahead of the earlier gap from last week (10460-10508). It is up about 1.6% in late-morning turnover. The strongest sector is the financials, up 2.5%, with the banks up 3.4%. Deutsche Bank is snapping a five-session drop. It fell 9.1% last week. It has recouped more than half of that today.

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