MARKET ANALYSIS:
Day Trading Talking Points:
MARKET ANALYSIS:
- Geopolitical risks grip the markets sending Fixed Income higher and risky assets lower. Gold, Silver, & Oil were all heavily bid as well. Our analysis suggests that Western Powers will not immediately intercede. [Our analysis suggests that any conflict with Syria is either unlikely or extremely limited. The consequences of a regional escalation and the implication for global world powers is too dangerous to justify any major action or intervention by Western Powers.]
- Asia markets continued the Risk Off theme with the Nikkei down better than 2% in overnight trading.
- Germany's IFO was a beat yesterday just as predicted right here at TCS, though we missed the US Consumer Confidence call which was a beat.
- ECB's Asmussen was busy talking down rates once again as he stated that accomodative policy will remain in place for as long as necessary.......
- Merkel was quoted as saying yesterday that Greece should not have been let into the Euro.......... read it here!
- On the Eco data docket today there is Euro area M3, UK CBI Sales, and Pending Home sales in the U.S
LIVE ECON DATA:
Real Time Economic Calendar provided by Investing.com
SPEAKERS & SUPPLY:
BOE's Carney // EFSF & U.S 5yr
SUMMARY:
This is typical Risk Off mode and should be traded as such. However, should this Risk Aversion start to recede U.S Treasuries will look like a great sell.There is no real major market data on the docket for today. BOE's Carney will likely be the big hit today. He is widely expected to talk down rates as his first attempt as the BOE's head was major failure.
GLOBAL MACRO THEMES:
FED Tapering in Sept / Debt Ceiling / Student Loans and Muni's Defaults / Eurozone Dysfunctionality / China Slowdown / Japan's Money Printers / UK Improving on higher inflation and falling wages / EM Slowdown in Full Swing
HEADLINES:
Summary: Markets are very concerned over the escalation of tensions in Syria and more so the likely fallout should Western Powers lock and load. The negative news cloud is abound with hardly one economic supportive article out there making any rounds. This sentiment should keep Fixed Income and Oil heavily bid while Equities and Risk Assets look for cover.
Today's Trading News:
US-allies-move-closer-to-military-strike-against-syria. - Bloomberg
Ito-backs-japan-sales-tax-plan-as-hamada-calls-for-gradual-rise - Bloomberg
Philippine-stocks-tumble-to-nine-month-low-amid-outflows-concern - Bloomberg
Asian-futures-slump-as-u-s-stocks-slide-syria-fuels-oil - Bloomberg
Brent-crude-may-spike-to-150-on-syria-spillover-socgen-says-Bloomberg
What-us-strike-syria-would-look - Zerohedge
Emerging-markets-are-in-for-a-tumultuous-new-era-BI
Angela-Merkel-Greece-should-never-have-been-allowed-in-the-euro - Telegraph
The Bank of England will lose control of inflation and 1980s mass unemployment will return - Telegraph
US-allies-move-closer-to-military-strike-against-syria. - Bloomberg
Ito-backs-japan-sales-tax-plan-as-hamada-calls-for-gradual-rise - Bloomberg
Philippine-stocks-tumble-to-nine-month-low-amid-outflows-concern - Bloomberg
Asian-futures-slump-as-u-s-stocks-slide-syria-fuels-oil - Bloomberg
Brent-crude-may-spike-to-150-on-syria-spillover-socgen-says-Bloomberg
What-us-strike-syria-would-look - Zerohedge
Emerging-markets-are-in-for-a-tumultuous-new-era-BI
Angela-Merkel-Greece-should-never-have-been-allowed-in-the-euro - Telegraph
The Bank of England will lose control of inflation and 1980s mass unemployment will return - Telegraph
Ito-backs-japan-sales-tax-plan-as-hamada-calls-for-gradual-rise - Bloomberg
Philippine-stocks-tumble-to-nine-month-low-amid-outflows-concern - Bloomberg
Asian-futures-slump-as-u-s-stocks-slide-syria-fuels-oil - Bloomberg
Brent-crude-may-spike-to-150-on-syria-spillover-socgen-says-Bloomberg
What-us-strike-syria-would-look - Zerohedge
Emerging-markets-are-in-for-a-tumultuous-new-era-BI
Angela-Merkel-Greece-should-never-have-been-allowed-in-the-euro - Telegraph
The Bank of England will lose control of inflation and 1980s mass unemployment will return - Telegraph
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