The stock market screens went green yesterday, despite the cooler temperatures than expected PPI (-0.5% as compared to 0.0) and a bigger than expected increase in Unemployment claims (239k vs.The Wall Street gained more than 1%. The NASDAQ surged 1.99% Top the 12,000 level again. Then, level again. US500 jumped 1.33% The era of the’s has passed 4,000 Mark for the eleventh consecutive session. The US30 Was up 1.14% The top 34,000 For the first time since February mid-February. Treasuries ended in the negative 10yr at 3.44% Now the curve is 52 pts. inverted. USD The market continues to decline, and is trading at 12-month lows. EURUSD Overlooking the other side of the world 1.1070 This morning Sterling Trades at 1.2540. Asian markets cautious & flat (save NIKKEI +1.1%) & European FUT’s are firmer ahead of US bank earnings, Retail Sales and UoM Consumer Sentiment.
Overnight Data Singapore’s The central bank surprised the markets by stopping its tightening cycle. They were expecting even more restraint. Singapore joins Canada & Australia, India & South Korea to press the pause button. The outlook was also gloomy.
- FX – USDIndex Continued to decline 100.50 The 12-month lows are also reflected in a third week of declines. EUR Spiked to 1.1070 Hold the bid and place it earlier JPY Diving from 133.00 Testing is a good idea 132.00…
