Global Market Analysis, October 14, 2016

Highlights

Job numbers disappoint again (although Canada's didn't)

For the second month in a row, the US nonfarm payrolls came in below expectations. This should give pause to those who believe that the Fed will hike interest rates in December.

The Brexit breakdown

The pound sterling fell sharply this past week as Britain's Prime Minister Theresa May indicated that Article 50 will be invoked by March 2017. That will trigger the Brexit.

We can't get Deutsche Bank off the front page

Deutsche Bank (DB) won't go away. Rumours of its imminent demise persist. It has all sorts of problems. It has fired people, taken write-downs, and shunted businesses.

Weekly Market Review

Stocks

The US stock markets continue to hang by a thread, but the thread is threatening to break (and appears to be breaking as we write).

Bonds

We continue to monitor the TLTs, which appear to be on the cusp of a breakdown. Both stocks and bonds, it seems, are threatening to break down at the same time.

Currencies

After months of trading in an ever-narrowing range, the US$ Index appears to have broken out to the upside. Conversely, the euro appears to be breaking down.

Gold and Precious Metals

Gold, silver and the gold stocks put in another down week. We take a look at the two flash crashes over the past week or so. Cries of manipulation are rampant.

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Chee Hin Teh 6 years ago Member's comment

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Chee Hin Teh 6 years ago Member's comment

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