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Posts Tagged ‘dollar’

Not surprisingly U.S.-China trade war rhetoric heats up ahead of renewal of talks

Today the Trump administration put eight of China's technology giants on a blacklist over alleged human rights violations against Muslim minorities. And China signaled that it would retaliate over the blacklist. Foreign ministry spokesman Geng Shuang told reporters “Stay tuned.” The companies on the blacklist include two video surveillance companies-- Hangzhou Hikvision Digital Technology and Zhejiang Dahua […]

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Stocks slide, bonds rally on pessimism of a thousand cuts

Stocks were down this morning with the Standard & Poor's 500 falling 1.01% as of 1 p.m. New York time and bonds were up with Treasury prices climbing to send the yield on the 10-year Treasury down 8 basis points to 1.64%. The move down wasn't the result of a single big negative headline but […]

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People’s Bank adds $126 billion in liquidity to Chinese economy

With China's economy expected to slow further in September after poor results in July and August, the People's Bank of China cut the amount of cash that banks must hold as reserves to the lowest level since 2007.  The required reserve ratio for all banks will be lowered by 0.5 percentage points as of September […]

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August jobs report disappoints; more evidence that U.S. economy is slowing

The U.S. economy added 130,000 jobs in August. Economists surveyed by Briefing.com had expected 171,000 new jobs. Once you subtracted the 25,000 new temporary jobs added by the government for the 2020 census, the results were even more disappointing with the private sector economy adding just 96,000 jobs. Economists had expected 145,000 jobs to be […]

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The market wants to believe today–rallying ahead of the Fed?

As of 2 p.m. New York time U.S. stocks were higher on just about no meaningful news. To me it looks like the market wants to climb in the very near term--testing technical momentum to move to 2950 on the Standard & Poor's 500 and maybe beyond. The "reasons" being hauled out for today's gains--0.84% […]

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Saturday Night Quarterback says (on a Sunday), For the week ahead expect…

... some things in the financial markets will be so similar to what they were before the Labor Day holiday that you might think you were never away at all. Not everything, though. Yes, the U.S.-China trade war will still be hanging fire. And the tariffs on $112 billion in Chinese imports that went into […]

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Other signs of global economic stress keep coming in

The U.S.-China trade war continues to erode business confidence in Germany. Business confidence in the country, home to Europe's largest economy, fell to its weakest level in almost seven years as a deepening manufacturing slump put the German economy on the  verge of a recession. The Bundesbank calculates that German GDP contracted in the second […]

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China retaliates; Trump promises his retaliation to their retaliation this afternoon

Xi Jinping and Donald Trump upstaged Federal Reserve chair Jerome Powell this morning. Powell's Jackson Hole speech this morning was supposed to be the day's big market event. (More on this speech in a later post.) But this morning China announced that it would retaliate to the last round of additional 10% tariffs on $300 […]

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Markets bet that Fed will follow ECB this week to announce something “spectacular”

Gotta love that financial market enthusiasm for central banks. Last week the markets rallied on signals from the European Central Bank that it would cut its key interest rate--now at a negative 0.40%--to a negative -0.50%, lower the rates that banks pay to borrow money from the central bank, and restart its program of quantitive […]

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Saturday Night Quarterback says, For the week ahead expect…

... well, expect that nothing much else  will matter if the yuan-dollar exchange rate moves noticeably up or down this week. In a normal week, investors and traders would be studying reports on inflation (CPI), retail sales, initial claims for unemployment, oil inventories, and housing starts. But all that news will play second fiddle (if […]

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