Money moves out of U.S. stocks to the sidelines
So where is the cash headed? It’s coming out of U.S. equities right now and moving to the sidelines. That’s only a temporary destination, however.
Less risk of a global recession but relatively slow growth in 2014, the IMF projects
The International Monetary Fund carefully hedged yesterday’s good news on the global economy. Because the world’s developed economies—rather than historically faster growing developing economies—will provide the engine for global growth in 2014 and 2015, the world as a whole will grow slightly more slowly than the IMF had projected in early January
Fear over Ukraine retreats just enough for traders to notice news out of China
Russian troops, jets, and tanks withdrew to their bases in Russia from the country’s border with the Ukraine. Russian forces remain firmly in control of the Crimea, but the end of military exercises on the Ukrainian border has taken some of the fear out of global financial markets. And that has left traders with just enough bandwidth to notice negative news out of China.
Ukraine crisis drives the market today
The Russian ruble is down. So is the euro and emerging market currencies and markets are taking a licking. Pretty much what you’d expect when the crisis in the Ukraine has escalated to include a threat of armed conflict between Russian and Ukrainian soldiers.
Saturday Night Quarterback says, For the week ahead expect…
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...Special Report Part 2: 15 stock picks for 2014
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...More evidence of tightening in China’s falling yuan
It sure looks like the People’s Bank is tightening again. China’s yuan was down 0.4% against the dollar at one point yesterday. That brought the currency’s decline to almost 1% in a week. That’s a big move for the very tightly managed yuan. China’s currency doesn’t move up or down unless the country’s central bank decides to let it move.
Emerging market currencies will tip length of emerging stock rally
If you’re trying to estimate how long the recent emerging market rally will run, watch the currency markets. Emerging market currency traders aren’t done with their bets against these currencies. The recent move up in these currencies—which has been a key element in the rally in emerging market stocks—looks like just a profit-taking breather in the battle.
Longer term remains uncertain but trading rally might have started today in emerging markets
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...Saturday Night Quarterback says, For the week ahead expect…
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...Big interest rate increases from Turkey, India, South Africa fail to stem market drop
Today, January 29, big, surprise interest rate increases from central banks in Turkey, India and South Africa didn’t stabilize global markets. A decision by the Federal Reserve to reduce its monthly buying by another $10 billion added to the downward bias
Trust and local government debt-default fears recede (a bit) in China, boosting global markets
For the moment relief from China is trumping negative news on durables orders from the United States. Relief from China stems from a decision by the Industrial & Commercial Bank of China, China’s biggest lender, to stand behind a trust product issued by China Credit Trust, that was facing default on January 31.
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