A Tale Of Two Central Banks - Part 2
There’s a narrative going around that central banks are losing their influence. The market might be rejecting some of their policies, like NIRP in Japan, but central banks are as powerful as they ever were and that’s unlikely to change anytime soon. There’s one alpha-central bank, the Fed, whose influence [...]
A Tale Of Two Central Banks - Part 1
There’s a narrative going around that central banks are losing their influence. The market might be rejecting some of their policies, like NIRP in Japan, but central banks are as powerful as they ever were and that’s unlikely to change anytime soon. There’s one alpha-central bank, the Fed, whose influence [...]
Oil, Japan Suggest Stocks Should Decline Soon
We’ve been hearing about this OPEC output freeze for months now. Kuwait’s OPEC governor says the freeze will take place ahead of an April 17th summit, but Iran has already said it won’t participate and neither will the US. We knew this agreement was just noise back in January when [...]
Don't Bury The Dollar Just Yet
The US dollar’s (USD) worst quarter in more than three years has finally come to an end. Coming into this year long USD was one of the world’s most crowded trades, but once the Fed backed off its hawkish language in February the selling was large and rapid. Positioning in [...]
Basket Weaving In China
Every morning at 9:15 AM (9:15 PM EST) the PBoC sets the Yuan (CNY) rate for the day in what is commonly known as the fix. Once trading starts in China’s domestic market 15 minutes later, CNY is allowed to trade 2% above and below the fix. This daily fix [...]