Last week was highlighted with Trump’s tweet on possible deal delay with China, China’s frustration with Hong Kong or Xin Jiang Bills, and closed with strong US Payroll data. Market showed significant resilience last week despite the escalating tensions between US and China amidst their trade deal [S&P500 +0.16%, US10YR yield +6bps, Oil futures +7%,… Read More My Market – Entering a volatile festive month
Moore Capital, one of the most prominent macro hedge fund, was said to shutdown their operation and return money to investors after under performance for the past few years. This signified the difficulty of trading the market amidst the uncertainties around geopolitical tensions and central banks’ policy. It sounds rather ironical given that by simply… Read More My Market – Stock Market jittered over Hong Kong Bill
It’s hard not to acknowledge market optimism based Friday’s price action as it defies the usual retreat after stronger data post a more hawkish Fed’s statement. S&P500 ended up 3066.91 almost 1.5% higher than previous week. On Friday itself after the strong non-farm payroll number (128K vs expected 90K), the index jumped almost 1% with… Read More My Market – Overly Optimistic
Macro market now faces conundrum, where market participants are trying to figure out how Central Bankers interpret economic data. The surprising US ISM data below 50 on Tuesday caused the drop in stock market on that day and some risk-off sentiments throughout the week. S&P 500 ends 0.3% lower this week at 2952.01, despite almost… Read More My Market – Expect a rate cut ?
Market was relatively quiet despite FOMC’s rate cut decision last Thursday. Last week, the drone attack on Saudi’s oil field didn’t affect the market sentiment substantially post-Monday – (e.g. INR and IDR, currencies with high negative correlation with oil supply, spiked up initially but quickly reversed throughout the week despite higher oil prices by 5.9%).… Read More My Market – Market supported amidst money market funding squeeze