Monday, September 16, 2013

Morning Memo: Monday, September 16, 2013

ICYMI...from last Friday, latest in our series on the "Obesi-fication of America"....

"The Obesi-fication of America"'-Part 3. China's diabetes problem.


>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
"Morning Memo" begins below this "NOTE for  NEWCOMERS" to "Morning Memo"...... Each morning, we post a short bullet-point list of noteworthy events, data, etc that find their way into the assessment of global markets.  It's far from complete and is not meant to be an exhaustive reconciliation of all things that could possibly impact stocks, bonds, currencies and commodities!  Rather, it's best viewed as a cryptic memo of "highlights", noteworthy items that took place in Asia, European and US hours.....and color-coded 'Red' for seemingly negative impact on equity markets, 'Green' for positive.
This will also serve as a useful review mechanism, as scrolling through the series of "Morning Memo" posts over time ought to summarily highlight what generally drove price action.  

We hope you find this useful and informative....and as always, that you'll share feedback!!

5:15am ET...
  • The Fed...Larry Summers withdrew from consideration for the Fed's Chairman role in a letter to the President citing anticipated intense Congressional wrangling over his nomination.  Janet Yellen's, the President's alleged second choice, is seen as supportive of a more moderate pace of tapering.  This has helped trigger a global equity market rally with most markets in Asia, Europe and US futures higher across the board!  USD fell.  Gold rallied.
  • FOMC....two day meeting on Tuesday and Wednesday.  Markets appear to anticipate a tapering from the current $85B/mth to $75B.
  • Oil fell in response to the US/Russian deal on Syria reached last Friday, but still working its way through the UN process.
  • India...key inflation index higher than expected, raising risks of stagflation. Comes on the heels of recent rate hikes by the RBI in attempts to support the Rupee and prevent a rise in inflation.
  • ECB's Draghi...says European recovery still in 'infancy', Europe needs to improve competitiveness, rates will stay low for extended period.  (Not new, but reaffirming).
  • Italy..trade surplus rises as imports lag on weak consumer demand, but exports strong.
  • US....NY Empire State Mftg Index worse than expected with the general business conditions index @ 6.3 vs 9.0 exp.  The 6mth fwd looking index, however, was generally optimistic.
  • more later...

Please continue to visit Soos Global Market Musings for updates.
(Sign up to "Follow by Email"!  And share with others!)

(Please note: This article is solely meant to be thought provoking and is not in any way meant to be personal investment advice. Each investor is obligated to opine and decide for themselves as to the appropriateness of anything said in this article to their unique financial profile, risk tolerances and portfolio goals).
Disclaimer: Please read and consider important information related to all communication made by Soos Global on this site by clicking here.
Additional Disclaimer: currently long many stocks/ETFs incl DVA.  Positions may change at any time without notice.

No comments:

Post a Comment