Posts Tagged ‘European debt crisis’

Gary Shilling Says Yuan Move Is Risky

Gary Shilling Says Yuan Move Is Risky

Courtesy of Edward Harrison at Credit Writedowns

Gary Shilling talked with Bloomberg about the implications of China’s recent currency move and the European debt crisis. True to form, he is bearish – both on the Chinese move and on the European debt situation. His view is that the Yuan move comes at the wrong time given that the European debt crisis and fiscal austerity is already poised to slow global growth.

While I agree with his comments on the risks to the Eurozone and the Chinese economy, I will defer to Marc Chandler’s views on China’s forex move who has fewer negative things to say about the move. 


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Euro Witch Hunt Escalates; Obama on the Hotline to Angela Merkel; France, Germany “Completely Agree” (Except for German Voters)

Euro Witch Hunt Escalates; Obama on the Hotline to Angela Merkel; France, Germany "Completely Agree" (Except for German Voters)

Courtesy of Mish witch hunt

The news is flying once again today, and all eyes are the results of a meeting that will send a coordinated "message to the market".

The meeting was interrupted when German Finance Minister Wolfgang Schäuble had an "adverse reaction to medication" and had to be take to the hospital.

I think a more likely explanation is a stress related nervous breakdown. Hmmm. Will that statement make me a witch hunt target?

Euro Witch Hunt Escalates

You know someone or something is in deep trouble when the search for scapegoats happens in the middle of a crisis rather than after it has ended. With that in mind, please consider EU’s Barnier Calls For Tougher Sanctions On Market Speculators.

The European Union’s internal market commissioner Sunday called for tougher sanctions on stockmarket speculators.

Speaking on French radio Europe 1, Michel Barnier said sanctions against speculators will take various forms "including legal action, when there is proof." "We are ready to increase the sanctions against abnormal speculative action," he said.

"Regulatory authorities need to be extremely severe with those that are launching rumors to manipulate stock prices in order to make money on the back of the suffering of the people," Barnier said.

Is that lame or what?

IMF approves $40 Billion Greece Bailout

Today we learn the IMF finally got its act together to approve $40B Greece bailout.

The board of the International Monetary Fund has approved its part of a $140 billion bailout package for Greece.

The board met in Washington Sunday to approve a three-year, $40 billion (euro30 billion) loan for the troubled European nation. Greece has enacted broad cutbacks on government spending to address its mounting debt, sparking riots and social unrest.

Eurozone leaders on Saturday approved a $100 billion package of loans to Greece for the next three years to keep it from imploding. The bailouts are an effort to stabilize global markets rocked last week by fears of a spreading European debt crisis.

Obama’s On The Hotline

This will not do a bit of good but Obama calls Merkel on debt crisis

US President Barack Obama spoke to German Chancellor Angela Merkel for the second time in three days Sunday and pressed for "resolute" EU steps to build market confidence, the White


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Phil's Favorites

Trump's trade war - what was it good for? Not much

 

Trump's trade war – what was it good for? Not much

When you push an opponent, he tends to push back. AP Photo/Ahn Young-joon

Courtesy of Rebecca Ray, Boston University

The 2016 election was a referendum on free trade, which many blamed for destroying millions of American manufacturing jobs. In 2020, it could be about the merits of trade wars.

During President Donald Trump’s first term, he tore up deals, launched a trade war with China and renegotiated NAFTA. His campaign claims the war was a succes...



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Biotech/COVID-19

In rural America, resentment over COVID-19 shutdowns is colliding with rising case numbers

 

In rural America, resentment over COVID-19 shutdowns is colliding with rising case numbers

Business restrictions early in the pandemic, when rural towns had few cases, triggered a backlash that haunts them now. Johannes Eisele/AFP/Getty Images

Courtesy of Lauren Hughes, University of Colorado Anschutz Medical Campus and Roberto Silva, University of Colorado Denver...



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ValueWalk

The Last Gold Rush...Ever!

By Jacob Wolinsky. Originally published at ValueWalk.

Excerpt from The Last Gold Rush…Ever! courtesy of Post Hill Press

Q3 2020 hedge fund letters, conferences and more

From The Gold Dollar Standard To The Mere Dollar Standard

Few realize that today’s US dollar is the third iteration of the country’s currency in less than a hundred years. (It is no consolation that other countries have done worse. Between 1986 and 1994, Bra...



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Zero Hedge

Rabobank: "A Dangerous Moment"

Courtesy of ZeroHedge

By Michael Every of Rabobank

The markets have started a new week of trading in risk off mode (when this note was heading to press) amid fading expectations that the US Congress will pass another fiscal package. With just 8 days left until the presidential election, both sides may not have a sufficient incentive to reach an agreement. Even if there is no deal in the coming days, a fiscal stimulus is still likely to be agreed after the election to support businesses and households as the US is struggling to contain the coronavirus pandemic. In fact, President Trump’s chief of staff openly admitted that the US is “not going to control” the pandemic and instead will focus on “proper mitigation factors”, such as vaccines and treatments. Former Vice President Biden s...



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Politics

How to track your mail-in ballot

 

How to track your mail-in ballot

Make sure you know when your ballot is arriving, and whether it’s been accepted for counting back at your election office. erhui1979/DigitalVision Vectors via Getty Images

Courtesy of Steven Mulroy, University of Memphis

Many voters who want to participate in the election by mail are concerned about when they’ll receive their ballot – and whether it will get back in time to be counted.

The pandemic has caused interest in ...



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Kimble Charting Solutions

Doc Copper/Gold Indicator Breaking Out Again?

Courtesy of Chris Kimble

The Doc Copper/Gold ratio broke above a 2-year falling channel back in 2016 at (1). Following this breakout, it rallied for the next year. During that year, Copper related assets did very well!

The ratio peaked in the summer of 2018 and created a series of lower highs over the past two years.

The strength of late has the ratio attempting to break above dual resistance at (2).

If the ratio continues to push higher and succeeds in breaking out, Copper, Basic Materials (XLB), and ...



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Chart School

Dow Gann Angle Update

Courtesy of Read the Ticker

Time to see what happens to the Dow post US elections.

The Dow Gann Angle Target 3 (from 2007 top) is on the table, and what a ride that will be. The FED went BRRRRR is all the fundamental news you need to know. Gann angles are very good tool to see how the masses are pushing price.


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The last two US elections saw Bitcoin and the DOW rally well for 6 months, due to stimulus. The most bearish 2020 US Election case for the markets is a Biden win with the Senate and Congress controlled by the Democrats, somehow this blog feels that is very unlikely. So what could go wrong!


...

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Digital Currencies

Bitcoin: the UK and US are clamping down on crypto trading - here's why it's not yet a big deal

 

Bitcoin: the UK and US are clamping down on crypto trading – here's why it's not yet a big deal

Where there’s a bit there’s a writ. Novikov Aleksey

Courtesy of Gavin Brown, University of Liverpool

The sale and promotion of derivatives of bitcoin and other cryptocurrencies to amateur investors is being banned in the UK by the financial regulator, the Financial Conduct Authority (FCA). It is a...



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Mapping The Market

COVID-19 Forces More Than Half of Asset Management Firms to Accelerate Adoption of Digital Marketing Technology

By Jacob Wolinsky. Originally published at ValueWalk.

There is no doubt that the use of technology to support client engagement initiatives brings both opportunities and threats but this has been brought into sharp focus this year with the COVID-19 pandemic.

The crisis has brought to the fore the need for firms to enable flexibility in client engagement – the expectation that providers will communicate to clients on their terms, at their speed and frequency and on their preferred channels, is now a given. This is even more critical when clients are experiencing unparalleled anxiety from both market conditions and their own personal circumstances.

...

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The Technical Traders

Adaptive Fibonacci Price Modeling System Suggests Market Peak May Be Near

Courtesy of Technical Traders

Our Adaptive Fibonacci Price Modeling system is suggesting a moderate price peak may be already setting up in the NASDAQ while the Dow Jones, S&P500, and Transportation Index continue to rally beyond the projected Fibonacci Price Expansion Levels.  This indicates that capital may be shifting away from the already lofty Technology sector and into Basic Materials, Financials, Energy, Consumer Staples, Utilities, as well as other sectors.

This type of a structural market shift indicates a move away from speculation and towards Blue Chip returns. It suggests traders and investors are expecting the US consumer to come back strong (or at least hold up the market at...



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Lee's Free Thinking

Texas, Florida, Arizona, Georgia - The Branch COVIDIANS Are Still Burning Down the House

 

Texas, Florida, Arizona, Georgia – The Branch COVIDIANS Are Still Burning Down the House

Courtesy of Lee Adler, WallStreetExaminer 

The numbers of new cases in some of the hardest hit COVID19 states have started to plateau, or even decline, over the past few days. A few pundits have noted it and concluded that it was a hopeful sign. 

Is it real or is something else going on? Like a restriction in the numbers of tests, or simply the inability to test enough, or are some people simply giving up on getting tested? Because as we all know from our dear leader, the less testing, the less...



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Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

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