MARKET ANALYSIS:
Day Trading Talking Points:
MARKET ANALYSIS:
- Fears of Western intervention in Syria are still front and center. As we have been spouting here at TCS for some time, it is not Syria but the circumstantial issues/fallout that anyone really cares about. It is because of these reasons that our Profiling Analysis doubts any real action will be taken by Western Powers. It would be inane at this point to intervene and every Chief of Staff should know that.
- Well, Carney failed again yesterday to convince investors that the BOE does not foresee a near term increase in real rates. In today's Market it is either more QE or shut up and sit down.
- In spite of of the tensions Asian markets finished higher.
- EM, especially currencies continue to get hammered.
- E-zone M3 missed yesterday inplying banks are once again reducing lending and really is that all that surprising.........
- On the Econ Data front, key prints that may move market or be exaggerrated by recent risk off sentiment; SP = GDP(f) // GE = CPI, U%, US = IJC & GDP(2nd), PCE
LIVE ECON DATA:
Real Time Economic Calendar provided by Investing.com
SPEAKERS & SUPPLY:
ECB's Nowotny (neutral), Mersch (Hawk), Weidmann (Hawk), EU Rehn, FED's Bullard (Hawk), Lacker (Hawk non-voter) // IT 5yr & 10yr BTP
SUMMARY:
Volumes have been shaky and although many news sources will site reasons for Asian shares to have risen overnight the more likely case is that Sellers have sold and Media outlets are starting to suggest an attack on Syria is not as imminent as first thought and therefore you had more buyers come back to the market. News will be watched very carefully, going in either direction, and that will be the main driver of price action today. There are a number of E-zone speakers as well and US GDP 2nd print due out.
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
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