Report
EUR 8.70
For Business Accounts Only
http://trackresearch.com/articles/the-morning-track-no-tension/
Holiday trading rules required. Markets are buying risk as the US tax reform plans feed into a stock rally extending from Friday. The turnaround has helped commodities, hurt the USD marginally in Europe but not Asia, and left bonds lower. Politics dominates the headlines today from South Africa with the ANC leadership vote starting (and a big 2% gain in ZAR), to the Australian by-election keeping government intact (AUD up 0.3%) , to the far-right party holding positions of power in Austria, to Chile voting in Pinera, a right-wing Billionaire, to the Catalan election Thursday where the independents are on the upswing, to the US tax reform passage sometime this week. The economic data was sparse but also important as it showed robust trade gains in Japan highlighting the global demand story, China housing prices holding showing the 3-4 tier city strength and a big UK CBI industrial orders survey showing Brexit be damned for growth. The markets are happy and there is no tensi
on even as the political worries linger. That has been the story of 2017 and today is not different. No tension means that the only way to derail this upswing is in a burnout. US rates maybe worth watching here as the move up in bond yields isn’t a flattener as much as a steady rise like water in a cup not quite ready to overflow but for the tension at the top.
The Morning Track no-tension
- The Morning Track – No Tension by Bob Savagehttp://trackresearch.com/articles/the-morning-track-no-tension/
Holiday trading rules required. Markets are buying risk as the US tax reform plans feed into a stock rally extending from Friday. The turnaround has helped commodities, hurt the USD marginally in Europe but not Asia, and left bonds lower. Politics dominates the headlines today from South Africa with the ANC leadership vote starting (and a big 2% gain in ZAR), to the Australian by-election keeping government intact (AUD up 0.3%) , to the far-right party holding positions of power in Austria, to Chile voting in Pinera, a right-wing Billionaire, to the Catalan election Thursday where the independents are on the upswing, to the US tax reform passage sometime this week. The economic data was sparse but also important as it showed robust trade gains in Japan highlighting the global demand story, China housing prices holding showing the 3-4 tier city strength and a big UK CBI industrial orders survey showing Brexit be damned for growth. The markets are happy and there is no tensi
on even as the political worries linger. That has been the story of 2017 and today is not different. No tension means that the only way to derail this upswing is in a burnout. US rates maybe worth watching here as the move up in bond yields isn’t a flattener as much as a steady rise like water in a cup not quite ready to overflow but for the tension at the top.
Provider
Track
TRACK.COM is an independent platform for investment research and market ideas. TRACK.COM research and analysis is used daily by hedge funds, proprietary trading desks, central banks and institutional asset managers to make investment decisions. These clients view Track.com as a trusted partner – our real-time research is thoughtful, well organized and right on target.
Robert Savage
Other Reports from Track
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.