A crucial week to start with presidential elections, new lockdown measures in Europe and plethora of economic releases due this week.

We are starting one the most crucial weeks of the year with US elections, Brexit negotiations, surge in corona virus and multiple economic releases including US jobs reports, BoE and Fed meetings scheduled to happen next few days. U.S. stocks dropped, extending their worst weekly rout since March, after earnings from the biggest tech companies disappointed investors…

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The main event for today is ECB meeting

US equities showed the biggest decline since June as the increasing number of coronavirus cases spooked investors – S&P dropped by 3.5%, Nasdaq fell 3.7%. The yield on 10Y USTs added 0.4 bps and closed at 0.773% lvl.  Lack of new stimulus deal agreement also hit the market as the uncertainty is on its highest…

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BDDK moves to slow lending as Turkish Lira rout continues

US stocks closed sharply lower on Monday amid a continued resurgence of coronavirus case in the US and Europe. The DOW led the slide, down 2.29% while the S&P and the NASDAQ shed 1.84% and 1.65% respectively. Yield on 10Y USTs closed 4bps lower at 0.8010%. German business sentiment fell in October according to Monday’s…

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Markets opened this Monday morning in a risk off mood. Only one week is remaining before US elections.

Markets opened this Monday morning in a risk off mood with US and European futures opening to the downside due to surging corona virus cases in Europe and software giant SAP issuing a profit warning. The second wave proves to be worse than the first. DAX traded around 2.3% lower, FTSE dropped around 0.5%, both…

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Doubts on fiscal stimulus moved the markets down

US stocks dropped yesterday after Steven Mnuchin comments on fiscal stimulus – he doubts that it could be secured before the presidential elections in November as the two sides remained “far apart” on parts of a deal. S&P lost 0.7%, Nasdaq dropped by 0.8%. The yield on 10Y USTs remained almost flat, it closed at…

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Chinese export data boost Asian markets.

US stocks continued their winning streak on Monday with tech stocks leading the surge. Apple rose 6.35% while Microsoft was up 2.59% pushing the NASDAQ to a sharp 2.55% gain. The S&P and the DOW rose 1.64% and 0.87% respectively. Bond markets were closed for a holiday. British unemployment for the 3 months to August…

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US stimulus package news and new Corona restrictions in Europe continue to drive financial markets.

With US closed today for Columbus Day we expect a muted market activity today. This week earning season will get underway with results from U.S banks later this week. White house is shifting its position on stimulus package with Trump proposing a stripped-down coronavirus relief bill. The $1.8 trillion stimulus deal ran into opposition on…

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White house now open to potential compromise on a stimulus plan.

What I’m sure we’ll all miss if Trump doesn’t get re-elected is the constant confusion as to what’s going on. Whether it’s about medical properties of bleach as a treatment for COVID or going from “there will be no fiscal bill before elections” to a stimulus deal having a “really good chance” in the span…

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Markets appreciated supported by the new potential stimulus bill

US stocks closed higher on Wednesday supported by President Trump`s suggestion on a new stimulus bill – he offered a “stand alone bill” for “stimulus checks” of $1,200. The FOMC meeting minutes were also on the agenda yesterday but provided little new information. S&P gained 1.7%, Nasdaq appreciated by 1.9%. The yield on 10Y USTs…

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U.S. RELEIF PACKAGE TAKES ANOTHER HIT/DELAY

The U.S. equity futures seemed to have gathered some gains/steam into the trading before pinged back from its modest gains. The Dow Jones Industrial Average ended the day down 375.88 points at 2,7772.76, the S&P 500 fell 47.66 points to 3,360.97 while the Nasdaq Composite lost 177.88 points to 11,154.60. All due to President Donald…

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