Morning Market Report
A nice big FUCK YOU to the system owners today so far. Up NICELY!!-stick that in your pipe and smoke it baby! Sucks if you are short but you are not "listening" to what you are being told.
Over halfway recovered from the drop during FOMC presser from yesterday. Overall everyone up save the ones who shit the earnings bed. Liking this action much!
Treasury rates on muh 10 year went down quickly upon open, thought it would take a few days but here we are at 1.99x% on the 10 year already. Shit moves quickly and this is going to sting...them. See Cap#3
And the yield curve - wherever you look - is collapsing. This is being portrayed as a massive policy error. Of course they all want higher rates to squeeze out moar spread on everything-not going to get it.
After the Fed Announcement and subsequent drop on the index(s)-which was caused by Powell talking from both sides as they were doing nothing prior to the speech- it's fairly quiet. In commodities markets, the price of crude oil CLU19, -3.09% fell 2.4% to $57 per barrel,
See Cap#4 while gold prices GCQ19, -1.37% retreated 1.7% to $1402 per ounce.
The dollar is continuing it's rise as well. As a carry-over to everything denominated in dollars it is a slow rise in value which, in turn has a slow effect on dollar denominated assets.
This was actually a pretty good presser, just don't ask the system as they HATED it. If you tell everyone what you are going to do then they all load up on that side. That was a typical thing Greenspan, Bernancke and Yellen did.
While not overt about it they certainly told everyone what to expect imo. Unlike the BOE earlier this morning who did not cut rates and opted to keep them at .75%
and to keep asset purchases unchanged, while noting that it is less confident than usual about the outlook for the economy because of Brexit while offering little new insight into the impact of how it would react to a "no deal" outcome.
Since The head of the BOE came from Goldman Sachs via a stint in Canada's dept of finance and was later it's Governor of the Bank of Canada this is no surprise. They also cut growth forecasts as well
On a macro level Factory activity contracted across Asia and Europe in July, fueling worries a prolonged U.S.-China trade war and an economic slowdown could tilt the world toward recession, which central banks would have to fight with depleted ammunition.
ISM Manufacturing index Decreased to 51.2 in July, The ISM manufacturing index indicated expansion in July. The PMI was at 51.2% in July, down from 51.7% in June. The employment index was at 51.7%, down from 54.5% last month, and the new orders index was at 50.8%, up from 50.0%.
This was below expectations of 51.9%, and suggests manufacturing expanded at a slower pace in July than in June.-ty again bill
Weekly unemployment claims have risen, In the week ending July 27, the advance figure for seasonally adjusted initial claims was 215,000, an increase of 8,000 from the previous week's revised level.
The previous week's level was revised up by 1,000 from 206,000 to 207,000. The 4-week moving average was 211,500, a decrease of 1,750 from the previous week's revised average. The previous week's average was revised up by 250 from 213,000 to 213,250.
This is not a good sign even though all the data from the sources for these reports are well past sell-by date regarding the effecacy of being a good metric.
This was higher than the consensus forecast. This entire complex needs a re-work and badly. taken from:https://www.calculatedriskblog.com/2019/08/weekly-initial-unemployment-claims.html? and ty bill for having easy grabs and based statements.
We still have the jobs numbers tomorrow look for July nonfarm payrolls to rise 171,000, while the unemployment rate is forecast to decline to 3.6% from 3.7%. Average hourly earnings are forecast to show a 0.2% rise.
Barclay's is gaslighting about asset bubbles because of the rate cut....REALLY NIGGA??? Like we have not had one for how many years. Go fuck off back to your hole from where you crawled out of. Where was this during the hussein admin??-again fuck off.
This was reported last night in here, it's also in notables as well
Jeff Bezos, chairman and chief executive of AMZN, +1.02% sold 968,148 shares worth $1.84 billion, according to filings with the Securities and Exchange Commission.
>>7286647 pb Jeff P. Bezos sold AMZN shares-$1.83b in shares-July 29-31 (BTW is anyone else having issues trying to put anything related to AMZN in here with the spelled out word?? Can only get it in if it's shortened to stock symbol, it took 20 minutes getting that sale in last night and
only went in if the entire spelled out word of AMZN was not used.
BTW he still has 58,142,479 shares to sell in this tranche so this may take a bit of time at the present rate of this first sale.
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