Shortly after the European open news broke of the Belgium terror attacks and we saw the usual flight to quality. Treasuries rallied, as did Gold and the US Dollar while stocks fell and in particular airlines and travel companies. At one stage we saw the DAX down over -1.5% with CAC, IBEX and FTSE not […]

Republicans for Hillary are starting to emerge under the pretense that Donald Trump is not a “conservative,” if you can believe that one. There have been secret meetings behind closed curtains among the Republican elite. The story they will spin is that Trump is not a conservative and his anti-Mexican comments would hurt the party, so […]

The strong Yen continues to weigh on the Nikkei even though other core Asian Indices performed. Minutes from the Jan BOJ meeting were released which showed that additional stimulus were discussed, including the possible expansion of QE. However, having opened unchanged and after a long week the Nikkei closed down -1.25% on the day and 2.5% lower […]

With both Asia and European markets were in pretty much a waiting station ahead of the FED, so it is probably worth us heading straight to where the action started! Even the events of the UK Budget were almost removed with talks of,  “It could all change come June 23rd anyway” so why get too hot under the […]

  The usual domestic analysis has its usual blinders on like a horse pulling a carriage in Central Park. Typically, this analysis blames everything on the Fed and remains clueless about international capital flows or trends. They argue that the S&P 500 doubled in value from November 2008 to October 2014, coinciding with the Federal Reserve […]

Asian equity markets open with lots of talk around the Chinese National Peoples Congress and the idea that GDP will now be an indicative target range (6.5 – 7%). The Shanghai opened over 1% firmer but did lose that as we headed into the afternoon session, only to recover and close up +0.85%. The PBOC […]

Christine Lagarde remains at the IMF as one of three Troika members because she is a Socialist. She is now on board with raising both the retirement age and taxes while closing all borders to the movement of capital. She is also pushing behind the curtain for the SDR to replace the dollar, and then […]

In Asian equity trading today, only the Hang Seng that disappointed investors after closing negative -0.3% whilst the others recorded gains. Shanghai posted a small gain of 0.3% as the PBOC set the Yuan mid-rate at 6.5412. Earlier we saw the (Caixin) PMI was marginally weaker than previous at 51.2 versus a previous 52.4. Meanwhile, […]

The Central Bank of Australia, known as the Reserve Ban, has come out bluntly and stated that it is entirely possible that Australia will end physical notes and coins and move to digital currency. The Reserve Bank is joining a growing crowd of governments advocating electronic money to really increase tax collection.

Shanghai was the talk between many dealers again this morning after we saw heavy morning selling accompanied by afternoon selling, which resulted in a 6.4% decline in the index. Financials were one of the leaders as the FX yuan mid-point rate was set lower at 6.5273 to the dollar on Tuesday and on Thursday at 6.5318. […]