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The week started in a relatively good mood. The S&P500 posted its first back-to-back gains this month, even though the US 2-year yield advanced to a fresh high since July with the 2 and 5-year treasury auctions hitting the highest yields since before the 2008 crisis. One would think that the Chinese stimulus measures have lifted up the sentiment across global equities, but the CSI 300 closed yesterday just around 1% higher. As such, yesterday was just another day the Chinese stimulus measures didn’t get the attention Chinese officials were hoping for.
Elsewhere, the softer US dollar gave some breathing...

The Federal Reserve (Fed) Chair Jerome Powell’s Jackson Hole speech was predictably cautious regarding inflation and interest rate policy. Short-term yields pushed higher, but major US indices closed the session, and the week higher.
This week will be busy with some important economic data from the US and beyond. Investors will focus on US growth and jobs data, and euro-area’s CPI estimate.
In China, the week started upbeat after the government announced measures to boost appetite for Chinese equities. Beijing halved the stamp duty on stock trades, while Hong Kong said it plans a task force to boost liquidity. The...

BRICS – which includes the world’s major energy-hungry nations like China and India, invited five countries - which happen to be the world’s top oil producers Saudi Araba, Iran, UAE, Egypt and Argentina - to join the bloc. This is an important step towards weakening the petro-dollar, though there are some important geopolitical barriers before BRICS becomes a solidly united union to challenge the Western dominance.
In the markets, those who expected the US dollar to tumble because BRICS are enlarging their alliance with top oil producers were disappointed yesterday. The US dollar extended gains to the strongest levels since...

Nvidia announced STUNNING results when it released its Q2 earnings yesterday after the bell. The company reported $13.5bn sales last quarter and said that it expects $16bn sales for next quarter, up from $12.6bn forecast last quarter. Earnings jumped to $2.70 per share, versus $2.09 expected by analysts, and the most-loved chipmaker of the year approved $25bn in share buybacks. Shares rallied 10% in the afterhours.
Elsewhere, the morose PMI data from Europe and the US pushed yields lower yesterday and kept US crude below the $80pb level, even though the US inventories dived more than 6 mio barrels for...

The market mood turned sour again, and the S&P500 fell after a short relief. S&P’s bank rating downgrades weighed on bank stocks.
Elsewhere, the rising rates and declining purchasing power finally start showing in some retailers’ quarterly announcements. Macy’s for example sank 14% yesterday as Dick’s Sporting Goods slumped more than 24% on ‘elevated inventory shrink – in particular theft. Both companies gave a morose outlook for consumer demand moving forward.
The US 2-year yield pushes higher above the 5% mark, while the 10-year yield struggles near 4.30%, where it sees decent resistance, as Chinese efforts to prop up the...

Is an Ethereum ETF coming before the Bitcoin ETF? Only in the futures version! This week we'll dive into the details and discuss the potential.

00:00 Intro
00:24 Preview
00:34 Bitcoin
04:22 Ethereum
06:02 Subscribe & Good bye

#crypto #cryptonews #cryptotrading #swissquote
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The week starts with weak appetite as Chinese banks cut loan rates less than expected; the 1-year LPR was cut by 10bp to a record low versus 15bp cut expected by analysts, while the 5-year LPR was left unchanged despite pressure from Beijing. Chinese banks’ decision to keep the 5-year rate steady is confusing for investors, in the middle of a property crisis. The Hang Seng index sank further into bear market, and the global risk sentiment is less than ideal as healthy economic data from the US, and darker clouds over China cast shadow on both stock and bond...

The global selloff intensified yesterday, after the FOMC minutes released Wednesday highlighted that the Federal Reserve (Fed) continues to see significant risks to inflation. And if that’s not enough, Atlanta Fed’s GDPNow printed an eye-popping growth forecast of 5.8% for Q3 on Wednesday, up from 5% printed a day before. We see some respite in the US 2-year yield that bounced lower from the 5% mark earlier in the week, and the 10-year yield spiked above 4.30% before falling back to 4.25% this morning. But the selling spree in global bond markets continue, as the US dollar continues strengthening against...

FOMC minutes released yesterday showed that most Federal Reserve (Fed) officials see ‘significant upside risks to inflation that may require more tightening’. The US 2-year yield remained little changed at around the 5% mark, while the 10-year flirts with the 4.30% level, approaching last October’s peak, raising questions among investors on whether levels above 4% are a good entre point in the US 10-year papers, or could it go higher?
The US dollar extends gains, as the S&P500 and Nasdaq’s losses deepen.
In Europe, the latest data released yesterday showed that growth and industrial production slowed, but slowed less than...