Today, stocks slipped as oil tumbled to its lowest in nearly seven years, hurting the shares of major oil companies, while Treasuries advanced. The dollar gained as expectations of a U.S. rate hike next week gathered pace after solid November jobs report and gold declined. The U.S. Labor Department issues job openings and labor turnover
Focus was away from the Fed this week as markets digested Draghi comments suggesting more QE is coming and fresh easing from China. Draghi commented that the degree of policy accommodation would be re-examined in December, noting downside risks to growth and inflation. This is a signal that the ECB may increase its QE programs,
Here are the update from today: Greece will not pay IMF on Tuesday: Govt official All 10 S&P sectors in the red; deepen losses in afternoon CBOE Volatility index .VIX spikes. Went short volatility Jan 2016. Euro STOXX 50 index – biggest one-day fall since 2011. Tens of thousands rally against bailout ahead of referendum
The market have rallied. Here are the market take aways. 1. ECB launches bond-buying programme with new money 2. Amounts to 60 bln euros a month together with existing schemes 3. Programme to run until end-September 2016 4. National central banks to shoulder bulk of risk 4. Euro tumbles in response Data from Eikon DataStream
ECB unexpectedly cut its main benchmark rate by 25 basis points to 0.75%. Euro is falling against the dollar. Gold investors should take note that the reason behind ECB rate cut is fear of deflation. Today the market had an important gap up which we used to sell long term SPY positions. The marke internals
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