Lighthouse Morning Market Wrap – Bears attack again

Not such a good night for risk Not a good night for risk assets and markets as we slid toward the EU summit. US Stocks were down early with JP Morgan in particular under pressure after a New York Times article said that the losses arising from the recent trading problems could be as high […]

Lighthouse Morning Market Wrap – Thank goodness for US data

Thank goodness for US Data US Data continues to be the key thing between a full-blown risk retreat in the run up to the EU Summit tonight and tomorrow. Overnight we saw the first rise in durable goods for 3 months posting +1.1% in May with machinery and defence orders driving the overall increase. Pending […]

Lighthouse Morning Market Wrap – Not in my lifetime

Not in my life time! The fact that the Case Shiller housing index printed better than expected (+0.67) seems to have predominated in trade in the US overnight with equity markets finishing in the black. The conundrum in this is that the Richmond Fed index was weak at -3 for its first fall in 6 […]

Lighthouse Morning Market Wrap – Growth and Europe concerns

Worrying about worrying The markets opened the week quietly in Sydney yesterday morning but as soon as Japan and the rest of Asia joined the fray it was fear, loathing and worry everywhere. The worry is about Europe of course and of the lack of leadership that is expected to be writ large by this […]

Lighthouse Morning Market Wrap – We await Europe, Again!

It’s a big week for Europe – again Even though Europe was under pressure when the US markets opened the rally in Financial stocks, which finished the day +1.4%, helped the US markets have a much better day than may have been expected. At the close of play the S&P 500 was up 0.34% to […]

Lighthouse Morning Market Wrap – It’s the economy Stupid

When I first became a currency strategist at Westpac back in 1998 there wasn’t really anyone to benchmark yourself against. Sure Jim O’Neill was at Goldman Sach’s but in Australia I don’t think there were any other Currency Strategists. I remember my wife, Lisa, asking me what I was going to do as I prepared […]

Financial Armageddon

By Greg McKenna Readers know that I am a student of history, particularly of economic and financial market history. I was lucky enough in the early days of the crisis to read a book written in 1996 by David Hackett-Fischer called the Great Wave. It was a history of inflation and prices going back a thousand […]

Market Rout in Asia – more to come?

I’ve just posted the daily wrap up of today’s trade over at MacroBusiness and I thought it worth sharing my thoughts with you. Here is the link but I wanted to perhaps extrapolate a little on a few thoughts. Clearly we are seeing a spike in pessimism accompanied be a fall in equities, commodities, growth […]

Aussie Dollar right on support

The risk rally is faltering at the moment and the Aussie Dollar is feeling the heat. Last week my mate Omid said in his short piece that 1.0665 was the key support. Similarly Rick Spooner over at CMC Markets had this level as the one to watch on the long he suggested. So there is […]