Judge John Walker, Jr The Second Circuit back in March refused to reverse a contempt order imposed on an allegedly recidivist stock fraudster. What is amazing is Judge John Walker, Jr, Bush’s cousin,  grabbed his appeal and really abused his power. This guy should be driven from the court with tar & feathers like in […]

The Yen has reversed some of its gains from last week but not before attempting more early in the day. Having hit highs early in the session it spent the majority of the day drifting lower to close over the 108 handle. The Nikkei, therefore, saw the exact reverse having hit session lows early then […]

The main topic again last night was the magnitude of the advancing Yen. Despite a convincing break below the 109 (and 108 in European trading) the Nikkei only managed to hold ground to show a modest (0.22%) gain on the day. The Shanghai fell over 1.3% overnight and only just managed to hold the psychological […]

It really felt like a day of two-halves today after a lack-lustre Asian session and a weak European morning. The Nikkei was again a talking point (or at least the JPY was) but Shanghai too saw a bit of volatility as we flirted toward the 3k level early afternoon only to recover by the close. […]

Fridays NFP in the US did not help support the Nikkei despite the DOW’s strong closing rally. We did see a bounce off of the 16k figure but given that the Chinese markets were closed, holding any gains on the day proved just too lonesome. Late news on Friday about oil production continues to haunt […]

QUESTION:  Dear Marty, We are heading straight into the hurricane, and as you correctly say, there is no way of reversing the trend. At this point, should Hillary (or Cruz for that matter) win the elections, she would have to face and preside over the coming inevitable crash and burn. This would be the only […]

After an initial opening surge in the Nikkei, briefly topping 17k, sellers appeared and drove prices lower to close the day -0.7%. The JPY was weaker throughout the morning session but had also turned stronger to balance the Nikkei swing. With the 10yr JGB having turned negative recently, this will squeeze banks and foreigners in […]

QUESTION: Marty; I attended your WEC in Princeton. It was really amazing. The year before you had pre-conference training session. That might be a good idea to bring back for this year. On another note, Trump seems to be just self-destructing and Cruz has effectively said the Republican Party is over for he will not […]

Asia followed the bullish tone provided by the Federal Reserve with a gap higher opening of around 1%. Mainland China and Hang Seng managed to build upon this enthusiasm, eventually closing up almost 2.5% each. The same could not be said of Japan when the Nikkei had problems holding the 17k psychological level. Tomorrow being […]

Janet Yellen signaled that the Fed is grappling with the problem I have been warning about: the dollar has become the de facto currency and the Fed is indeed becoming the world’s central bank. Yellen has admitted that everyone is lobbying the Fed to surrender its domestic policy objectives for international ones. This is precisely […]