August 5, 2019 | Daily JAM, Short Term |
It would be unwise to assume that today's retaliation by China is the last tit for tat in the U.S.-China war. What "reasonable" fears are making rounds today? That the Chinese decision to let the yuan break the 7-yuan-to-the-dollar barrier isn't the end of the slide...
May 27, 2019 | Daily JAM, Morning Briefing |
U.S. financial markets are closed today for Memorial Day. (Can't help but think of my Dad who climbed telephone poles to string wire during World War II. "While they shot at me," he would say with a mixture of surprise and outrage. I'm sure you have someone(s) to...
February 19, 2019 | Daily JAM, Volatility |
The latest round of U.S.-China trade talks resumed today in Washington. The Trump administration's March 1 deadline continues to walk nearer--although everyone on Wall Street expects that President Trump will decide good progress has been made and will extend the...
December 2, 2018 | Daily JAM, Short Term |
Just about everything was up in the overnight market. Asian stocks climbed. So did the Australia dollar and the Chinese yuan. And, importantly for U.S. investors, the S&P 500 index futures gained 1.5% in overnight trading. Emerging market currencies were all...
October 31, 2018 | Daily JAM, Morning Briefing |
It's only confusing if you don't know the relationship between growth in the Chinese economy and gains in the Chinese stock market. News overnight on Monday had the official purchasing managers’ index (PMI) dropping down to 50.2 in October, the lowest since July 2016...
October 8, 2018 | Daily JAM, Morning Briefing |
Actually, considering the list of fears today, it's kind of remarkable that the U.S. stock market hasn't fallen farther. (The U.S. bond market is closed for the Columbus Day holiday.) In the EuroZone the confrontation between the Italian government and the European...
September 19, 2018 | Daily JAM, Morning Briefing |
Just hours after the Trump administration announced 10% tariffs on an additional $200 billion in Chinese exports, Chinese Premier Li Keqiang said the nation wouldn’t devalue its currency in order to make its exports more competitive. Which, of course, doesn't mean the...
September 14, 2018 | Daily JAM, Notes You Need |
In my daily trawling through the market I come upon lots of tidbits of knowledge that I think are important to investors but that don't justify a full post. I've decided to start compiling these notes here each day in a kind of running mini blog that I'm calling Notes...
August 3, 2018 | Daily JAM, Morning Briefing, Short Term |
What's the relationship between the slide in the Chinese yuan--now down 6% since the start of the summer--and the tariff war between the United States and China? The Trump administration clearly believes that the drop in the yuan is a provocation, another example of...
August 3, 2018 | Daily JAM, Morning Briefing |
The White House will not be amused at the continued trend in the currency markets. Overnight the overseas yuan lost more ground against the dollar. China's currency finished down 0.1% to 6.8890 to the dollar. The yuan had been down as much as 0.8% against the dollar....
July 25, 2018 | Daily JAM |
Yesterday, Tuesday, July 24, the Shanghai Composite Index rose 1.6% on Tuesday for its biggest three-day rally since March 2016 as the Chinese government announced measures to bump up economic growth. The plans, as usual, centered on infrastructure spending, with the...
June 14, 2018 | Daily JAM |
Monthly figures continue to show that China's growth rate is in a very gentle downward trend--the People's Bank doesn't seem to be worried though In May retail sales grew by 8.5% year over year. That was below the 9.6% growth expected by analysts surveyed by...