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Asian stocks fail to catch Wall Street's Fed cheer as trade angst dominates
>>6803283 Gold Steady @$1400 currently
Asian stocks struggled on Friday to track Wall Street’s exuberance about a possible U.S. rate cut next month as anxiety over Sino-U.S. trade negotiations clouded the investor mood in the region
Also tempering appetite in Asia were fresh worries about Middle East tensions, after Iran shot down a U.S. military drone, raising fears of a military confrontation between Tehran and Washington and pushing the crude oil price higher.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.1%. The index was up 4% on the week, during which it brushed its highest level since May 8.
Japan’s Nikkei was flat, capped by the yen’s big surge-see cap#3
The S&P 500 hit a record high on Thursday after this week’s Federal Reserve meeting boosted expectations that the central bank will cut interest rates as soon as next month to keep the U.S.-China trade war from stalling economic growth.
Investors have pinned hopes on the United States and China reaching some sort of compromise at the sidelines of the G20 summit in Japan on June 28-29.
In currency markets, the prospect of U.S. interest rates being lowered put the dollar squarely on the defensive.
The dollar index against a basket of six major currencies struggled near a two-week low of 96.567 brushed the previous day. The index has fallen roughly 1% this week.
The greenback has fallen 1.1% versus the yen this week and traded near a six-month low of 107.21 yen.
Cap#3
The euro was steady at $1.1295 after popping up to an eight-day high of $1.1317 in the previous session. The single currency was headed for a weekly gain of 0.75%.
With the Fed expected to ease policy soon, and with other central banks such as the European Central Bank and the Bank of Japan seen following in their wake, government bonds were on a bullish footing.
'''The benchmark 10-year U.S. Treasury yield surged in price and its yield fell below 2% for the first time in 2-1/2 years on Thursday. It last stood at 2.009%.==
Cap#5
The German 10-year bund yield touched a record low of minus 0.329% this week while Japan’s 10-year yield fell to a near three-year trough of minus 0.185% overnight.
Crude oil rose to three-week highs after Iran shot down a U.S. military drone, raising fears of about fresh conflict in the Middle East.
U.S. crude oil futures were up 0.58% at $57.40 per barrel after rallying more than 5% the previous day.
https://www.cnbc.com/asia-markets/
https://www.reuters.com/article/us-global-markets/asian-stocks-fail-to-catch-wall-streets-fed-cheer-as-trade-angst-dominates-idUSKCN1TM03X?
https://www.dailyfx.com/usd-jpy?ref=TopRates
https://www.kitco.com/charts/livegold.html
https://www.marketwatch.com/investing/bond/tmubmusd10y?
they do and as long as it's in an uptrend they are losing. It had semi-crappy volume from about 1290 to 1350 then it woke up.
>Until it gets to "used to be" Great Britain
The LBMA curse. Used to hate that as I was always just going to bed when that 'arrived'- but after a while got used to it(late 90's) and actually learned to put something on just before, dump it on our open. Hated doing it but had to eat.
had friends that never learned….or listened either.
Have it so no worries here, just a paper price in the end.
Russian bombers violate Japanese airspace, prompt ASDF scramble
TOKYO (Kyodo) – Japan's Defense Ministry said Thursday Russian bombers had violated southern Japanese airspace, prompting Air Self-Defense Force fighters to scramble and escort the planes out of the area.
Two Tu-95 bombers entered Japanese airspace near Minamidaito Island in Okinawa for about three minutes from around 8:55 a.m. on Thursday, and one of them re-entered, flying near Hachijo Island in the Izu island chain, south of Tokyo, for around two minutes just past 10:20 a.m., the ministry said, adding there were no dangerous maneuvers.
The two bombers were spotted flying southward from the Sea of Japan through the Tsushima Strait between Japan's southwest and South Korea in the morning and then turning north over the south of Okinawa, the ministry said.
The Japanese government lodged a "stern protest" with Russia, according to the Japanese Foreign Ministry.
The Russian Defense Ministry denied a violation had occurred, Russia's Tass news agency reported, citing the ministry as saying the "flight was carried out in strict compliance with the international rules" and "without any violations of the borders of other states."
Two ASDF fighters "escorted" the bombers during parts of the over 14-hour flight of the Russian aircraft, according to the Tass report.
In September 2015, what appeared to be a Russian aircraft violated northern Japanese airspace off the Nemuro Peninsula on Japan's northernmost main island of Hokkaido, according to Japan's Defense Ministry. The area is near Kunashiri Island and the Habomai islet group, two of four Russian-controlled islands that are claimed by Japan.
https://mainichi.jp/english/articles/20190621/p2g/00m/0na/002000c
that is what many company's do to hide the true value of carried assets/debt on books. Mark-to-model as opposed to mark-to-market. The big banks all do this. The fact that it is shipping makes it even moar suspect.
>Trafigura ignores economic reality
The leasing rates on ships were having issues then too. This is an old problem and it needs to be cleaned up. There should be no room for saying "we think it is worth X" and then have an audited report that basically verify's nothing moar then fantasy-land valuations.
The FRB stress tests on the banks do something very similar. They allow the banks to place whatever they want into the "hold to maturity" bucket and then that is not part of the test. So they always pass it.
have a little experience with shipping as one of my indicators was the baltic dry index, when that fell off a cliff several years ago so did the leasing rates. Then the banks played the lets lease all the empty vessels and load then up with whatever was specific to each ship: oil, ore, food-stocks-you name it-and kept them at sea. Moar with oil and less with the food. That's how they got the price of oil back up a few years ago. Had many ships just steaming around in circles or dead in water loaded with crude.