The Federal Reserve pushed back plans to raise its benchmark short-term interest rate, which was widely expected following the Jobs Report. Yet, this was not a credible day for the Fed in the least as they are starting to appear confused and schizophrenic. Fed credibility is beginning to create a crisis behind the scenes that is […]

One of the eye-opening shocks I experienced after I was thrown in contempt was that nothing was what it seemed. Numerous suicides occurred but the press did not report on them, and the few that received coverage were spun to the government’s favor to portray them as having some remorse. The truth is that those […]

It felt as though all regions were blaming the USD today for their market’s weakness today. Dealers around the world were claiming a balancing act against the currency, even the JPY! Lower markets in Japan and Hong Kong saw negative returns of 0.4% and 1.2% respectively but with the Shanghai market still closed. Ahead of […]

The Nikkei could not hold the late US rally and as the cash market opened the weakness returned from the opening, especially having just seen the weaker than expected Machinery Orders. Gaping lower, we did see a small bounce but not enough energy to look for a positive close. Eventually the index closed around 1% […]

  The debate shifted following the Jobs Report, and people now assume that the Fed will not raise rates. Hence, we have a bounce in gold and the euro. That makes no fundamental sense regarding gold since higher rates indicate inflation and lower rates warn of deflation. The real confusion has been that most only focus […]

A strong opening hour (+1%) for the Nikkei on the back of a better than expected data release (Wages and Services) but by late morning had fallen back to unchanged. The second half of the day saw all core indices edge higher to close around 0.5% across the board. All eyes will be on the US […]

HSBC is altering its oversight of safe-deposit boxes in Hong Kong. Governments are targeting safe-deposit boxes to look for cash that is hiding from taxation. HSBC, a U.K. bank, is now moving against claimed financial crimes by altering conditions for safe-deposit boxes. This is becoming a global trend. Anything of value that is stored in a […]

The familiar phrase “We the People” no longer means what it used to. The majority of Americans do not understand how the law is made and assume Congress proposes all legislation and therefore makes law. That is not the case. The president can refuse to enforce any law or impose it arbitrarily under the claim of discretion, […]

The Nikkei (cash) really hit the tiles today (-2.3%) having received confirmation of the delay to the Sales Tax and its two year reschedule. The JPY saw the flight to quality resulting in a 1% rally to hit a 108.50 high. 10yr JGB’s traded from -10bp to -11.5bp. As stated yesterday it will not be […]

As rumored, Japan’s PM Mr. Abe announced today that the Sales Tax increase is to be delayed for the second time. This will very likely have an impact on Ratings Agencies who will be waiting more details in regards to any change on fiscal impacts and their possible reaction. As a result the JPY moved […]