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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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The US stocks market taking a hit. Dow down 300 points and S&P in the red too down 39points. Financial Times wrote:
Weak US manufacturing data and a new warning about the federal debt ceiling shook financial markets on Monday underlining the enduring risks to the world’s largest economy in 2014.
The S&P 500 closed down 2.3 per cent at 1741.89, taking its fall since the start of the year to 5.8 per cent, after a sharp fall in the manufacturing ISM index from 56.5 in December to 51.3 in January, a level consistent with only modest growth in output.
Markets also had a reminder about dangers from fiscal policy as Jack Lew, the US Treasury secretary, issued an urgent call for Congress to raise the debt ceiling by the end of the month.
10 yr treasuries fell to 2.57% a rate last seen in Oct. I expect more circus esp where congress is involved "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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murchr wrote:The US stocks market taking a hit. Dow down 300 points and S&P in the red too down 39points. Financial Times wrote:
Weak US manufacturing data and a new warning about the federal debt ceiling shook financial markets on Monday underlining the enduring risks to the world’s largest economy in 2014.
The S&P 500 closed down 2.3 per cent at 1741.89, taking its fall since the start of the year to 5.8 per cent, after a sharp fall in the manufacturing ISM index from 56.5 in December to 51.3 in January, a level consistent with only modest growth in output.
Markets also had a reminder about dangers from fiscal policy as Jack Lew, the US Treasury secretary, issued an urgent call for Congress to raise the debt ceiling by the end of the month.
10 yr treasuries fell to 2.57% a rate last seen in Oct. I expect more circus esp where congress is involved Bond market is the tape and its been throwing fits for weeks now... TA on nikkei and now S&P shows support levels caving in hinting trend change.
In euroland another cyprus is waiting... Ireland returns. $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Quote:The S&P 500 settled at 1,741 on Monday, its lowest close in more than three months. In fact, it was the worst start to February for the Nasdaq on record, and the worst for the S&P since 1933 and 1982 for the Dow. Welcome to volatility. We're yet to get to ulcers central... $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Happening right now...the Nikkei 225 is down 300+ points a three month low, a mirror of what happened in the Dow Jones Tue. The American economy is currently fueled by oil (fracking). It will be interesting to watch the kind of fever Europe will catch. "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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murchr wrote:Happening right now...the Nikkei 225 is down 300+ points a three month low, a mirror of what happened in the Dow Jones Tue. The American economy is currently fueled by oil (fracking). It will be interesting to watch the kind of fever Europe will catch. Actually nikkei is back to May 2013 levels. Abenomics QE boost erased... This nikkei selloff looks concerning esp how swiftly it has slid.$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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hisah wrote:murchr wrote:Happening right now...the Nikkei 225 is down 300+ points a three month low, a mirror of what happened in the Dow Jones Tue. The American economy is currently fueled by oil (fracking). It will be interesting to watch the kind of fever Europe will catch. Actually nikkei is back to May 2013 levels. Abenomics QE boost erased... This nikkei selloff looks concerning esp how swiftly it has slid. This is going to be one interesting day once this is day is over 400+ points down now "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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murchr wrote:hisah wrote:murchr wrote:Happening right now...the Nikkei 225 is down 300+ points a three month low, a mirror of what happened in the Dow Jones Tue. The American economy is currently fueled by oil (fracking). It will be interesting to watch the kind of fever Europe will catch. Actually nikkei is back to May 2013 levels. Abenomics QE boost erased... This nikkei selloff looks concerning esp how swiftly it has slid. This is going to be one interesting day once this is day is over 400+ points down now Quote:The broader Topix index tumbled 4.8 percent to 1,139.27, with 4.233 billion shares changing hands, the highest since June 2013.
Capitulation volatility. Ulcers soon on the next down move.$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Its a green day today though very weak the tables can turn anytime "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Elder Joined: 10/11/2006 Posts: 2,304
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It is quite interesting how the global market indices are aligned with the currencies as well as our NSE. We are in a bear market rally, a bull trap. Expect the next sell off early next week. Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Btw just noted that the long term bull uptrend for S&P is still intact despite the selling bout. 200SMA around 1708 while bull trend line around 1650. If those levels are smashed with aplomb then that will definitely signal a trend shift in favour of the bears. $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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As volatility rattles emerging markets and their ccys, the CBs are in no mood to wait for the market to catch them while they are naked. And so goes the rate hikes. Ghana CB is the latest; hikes rate by 200bps to 18%. http://www.cityam.com/bl...kes-interest-rates-18pc
KE remembers well this script as 2011 train wreck almost killed KES. $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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And this is Mzansi land... Petrol price hikes, tolls, higher interest rates: When will it end? http://mg.co.za/article/...o-hit-consumers-wallets
KE, anyone willing to offer a piece of advice to Mzansi wanjikus... $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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10,000 US Fed note back in 1918 and 1934. How fast the world forgets... 500, 1000 and 5000 notes also did exist back then as markets unravelled.  $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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A subtle dress-down.. Commentary: Where others see gold, the West rakes muck BEIJING, Feb. 8 (Xinhua) -- The West's relentless disparagement of the Sochi Olympics has been all too familiar even prior to its opening on Friday, which was supposed to be a sporting event but suffered identical political finger-pointing as Beijing did six years ago. The rhetoric was old-fashioned but not unexpected: alleged corruption, overrunning costs and human rights infringements. That is despite opinion polls, notably one by Gallup, produced headlines like "Russians See Gold in Sochi Olympic Games. http://news.xinhuanet.co...4-02/08/c_133099977.htm
"Sauti za makelele..tunawajua."
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Some interesting read on the emerging markets here ------> http://blogs.ft.com/beyo...its-back/#axzz2sxyPLHVf "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Member Joined: 2/18/2011 Posts: 448
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Am guessing you are in the GMT time zone or you wake up early to keep up with your investments.Thanks for the link
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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And the suicides continue... Fourth financial executive commits 'suicide' in little more than a week - http://www.examiner.com/...little-more-than-a-week
Quote:Talley is the fourth banking/financial executive to die by his own hands since Jan. 28.
Quote:On Oct. 29, 1929, the stock market crashed, setting-off a flurry of now, infamous suicides, by newly-ruined bankers and investors. However, the crash was preceded by suicides as well. **Markets hate confessions** It's coming... $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Fire destroys Argentina bank archives - http://www.theolympian.c...stroying-argentine.html
Quote:The destroyed archives included documents stored for Argentine corporations and banks, said Buenos Aires security minister Guillermo Montenegro.
If the cause is found to be arson, it wouldn't be the first time for Boston-based Iron Mountain Inc., which manages, stores and protects information for more than 156,000 companies and organizations in 36 countries. Fire investigators blamed arson for blazes that destroyed its warehouses in New Jersey in 1997 and London in 2006, prompting rounds of legal claims over lost records.
Just when the defaults are lining up... $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Cryptocurrency Auroracoin Given to Every Person in Iceland - http://www.coindesk.com/...n-every-person-iceland/
Quote:A team of Icelandic cryptocurrency enthusiasts is gearing up to launch an altcoin designed specifically for the population of Iceland.
Auroracoin is a litecoin-based digital currency, 50% of which is pre-mined. This is where it gets interesting: the pre-mined coins will be distributed to the entire populace of Iceland starting on 25th March. Each one of the country’s 330,000 citizens will receive 31.8 auroracoins.
Auroracoin’s developers also point out that the Icelandic krona has lost 99.5% of its value since 1960 relative to the US dollar. And so the revolt against the money masters continues... Further reading about the aurora coin go here - http://auroracoin.org/
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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[quote=Cde Monomotapa]Meanwhile in Zim: #155. MPS - 2014 "In this regard, we wish to advise exporters and the general transacting public that in addition to opening of accounts denominated in Botswana Pula, British Sterling Pound, Euro, South African Rand, United States Dollar, individuals and corporates can also open accounts denominated in the Australian Dollar (AUD), Chinese Yuan (CYN), Indian Rupee (INR) and Japanese Yen (JPY)." [Agro-Mineral Export base + Tourism to reckon with] Zimbabwe's Central Bank adopts the Yuan among 3 other Asian currencies http://www.youtube.com/watch?v=PAgDaAtYWCQ[/quote] Super Official.. Afreximbank tackles Zimbabwe’s financial sector liquidity challenges with new facility for trade finance banks http://afreximbank.com/a...sfinancialsectorli.aspx
A rejoinder on 'looking good on paper' as per the video, is that Zim despite its previous woes its financial & capital market infrastructure is pretty much still intact. The bankers there understand what to do with the grease (liquidity) and resumption of the interbank market. PS: As Nigeria’s Finance Minister Ngozi Okonjo-Iweala told this year’s World Economic Forum on Africa (2013): "We focus on FDI all the time. How about AIA — Africans investing in Africa." Cross-border African investment is set to accelerate as local firms seek new markets... http://www.bdlive.co.za/...ans-investing-in-africa
No Zero-sum game here, no sir! http://source.co.zw/2014...-build-bullion-reserves/
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