Futures & FX

Emerging Money Daily Audio Call October 23

Emerging Money Daily Audio Call October 23 - As we approach the biggest week yet for earnings season (especially in tech) we are very focused on the ECB event Thursday as the Dollar is showing signs of a fresh leg higher. 
What does the weekend snap election result in Japan mean for Japanese...

Emerging Money Daily Audio Call October 19

Emerging Money Daily Audio Call October 19 - How many more references do we need to the 30 year anniversary of the 1987 stock crash today?
Of course there are plenty of comparisons that are intellectually appropriate and from a market psychology perspective there is plenty to talk about. The...

Emerging Money Daily Audio Call October 17

Emerging Money Daily Audio Call October 17 - With short rates going higher and long rates staying flat, markets today are finding ways to fear the Fed.
The reality is that markets are still oscillating near all-time highs but there are examples of caution in risk assets ( see EMFX, materials,...

Emerging Money Daily Audio Call October 11

Emerging Money Daily Audio Call October 11 - With Banks reporting tomorrow and Bullish sentiment for markets pushing higher near March peak, positioning for earnings season might we somewhat problematic.
Again, Washington is not providing much support for the tax trade as Trump alienates more...

Emerging Money Dail Audio Call October 10

As we now get squarely focused on earnings (bring on the banks!) it appears we are forgetting about tax hikes (see rates and the USD) and Washington isn't helping itself (whats new?).
Airlines now back in a bull mkt after turning on a dime from bear market status. What does this mean for...

Emerging Money Daily Audio Call October 10th

As we now get squarely focused on earnings (bring on the banks!) it appears we are forgetting about tax hikes (see rates and the USD) and Washington isn’t helping itself (whats new?).
Airlines now back in a bull mkt after turning on a dime from bear market status. What does this mean for...

Emerging Money Daily Audio Call October 9

On a quiet day of trading with the US bank holiday investors prepare for 3Q earnings season where the bar is suddenly high.  We outline our view for the top line and bottom line and where we think value outperforms growth.
EM equities are following a path that seems to be driven by funds flows...

Emerging Money Daily Audio Call October 6

Emerging Money Daily Audio Call October 6 - Global equities can now experiencing the duality of hope and fear now that rates are indeed moving higher again.

The hope is we are truly normalizing in terms of policy because the global economy and can stand and grow on its own. The fear is that the Fed got all they needed today to take the next step in their policy unwind and rate hike progression. The reality is that the short end of the curve is at 9y highs in terms of yields, and Germany and even Japan are at key resistance.

Today's NFP showed wages that have hit 9 yr. highs and participation rates that also are peaking, even if the hurricanes decimated the schedules of job seekers and workers. Overall it was an extraordinary week of data in the US (Auto Sales, ISM Services and Manufacturing, Wages) and this should be bullish for equities if they haven't already priced this in...

Emerging Money Daily Audio Call October 5

Emerging Money Daily Audio Call October 5 - While the global rally clings to tax hopes in the US and rates staying low globally, there are trades that remain defendable even in the current valuation environment. 
On the call we address EM equity trade which somehow is only beginning to catch...