Daily Commentary 12/02/2016

Turmoil and volatility continues to dog markets overnight with risk on trades spreading chaos. The appearance of Yellen in front of the Congressional Finance Committee, was repeated again overnight, with further mention of the dreaded ‘negative interest rates’ !This has sent shudders through markets, as the realization that telegraphed interest rate rises, were unlikely and…

Daily Commentary 11/02/2016

Markets were dominated overnight by the Fed President, Yellen, appearing in front of congressional finance committee. Yellen was non-committal to future monetary policy but emphasized the strategy was dependent on the economic situation. She was unsure whether the Fed would dare to move to negative interest rates, but the consideration must scare many, as future…

Daily Commentary 10/02/2016

Equities continued to drift lower adding to the massive losses accumulating so far this calendar year. There is little on the economic front to support confidence in the markets with banks now being impacted severely with connections to the energy companies undeniable. QE have driven interest rates to extremely low levels, negative in Japan, giving…

Daily Commentary 09/02/2016

Equity markets continued with the major sell off to begin a new week. There was little economic data release globally, with China amidst their New Year celebrations, no real triggers. Markets turned to digestion of the U.S. employment data from last Friday, while looking ahead to Yellen’s appearance in front of the Senate Banking Finance…

Daily Commentary 05/02/2016

Currency markets came out from the shadows for the second day running, with serious moves from the Dollar, sending shockwaves through markets. Global Economic conditions have not recovered, as vaunted, deteriorating with debt at much more dangerous levels than pre-GFC! Western economies have not curbed spending and deficits have continued to expand adding to debt…

Daily Commentary 04/02/2016

Currency markets exploded overnight with the Dollar being hit hard across the board. New York Fed President, Dudley, noted the impact of the high Dollar on trade and the looming global downturn. This translated into a capitulation on telegraphed tightening of monetary policy. The Dollar crashed, with the EUR heading towards 1.1100, while the GBP…

Daily Commentary 03/02/2016

Equities tumbled again, giving up much of last Friday’s rally, with growth concerns front and center. Oil prices have given up much of the recent rallies, dipping below $30/barrel, with supply concerns continuing. The Russo/OPEC agreement looks seriously unlikely and new Iranian flows will only boost supply. This does not help global energy companies or…