Money Clips

Our pragmatic assessment of global economic and financial market developments and how this affects our most pressing investment goals.

December 17, 2018

Stocks in Asia traded mixed, following 2 weeks of losses driven by a backdrop of uncertain trade conditions and signs that some key economies are slowing. Treasury yields steadied just below 2.90%, while the dollar maintained near recent highs. Crude oil futures continue to languish below $52/bbl. Investors will look ahead to this week’s Fed policy meeting for more clues on its future interest rate hike path.

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December 14, 2018

Asian stocks fell with US equity futures as caution returned to global markets, with shares extending losses as data showed continued weakness in China’s economy. The yuan dropped with the Aussie, while the yen edged higher with Treasuries. Sentiment remains fragile as the week draws to a close, after ECB President Draghi said economic risks were moving to the downside, and as the odds of a no-deal Brexit and a US government shutdown increased.

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December 11, 2018

Benchmarks fell in Japan, fluctuated in South Korea and Singapore, and ticked higher in China, Taiwan and Hong Kong. Shares climbed from intraday lows after a statement saying Chinese Vice Premier Liu He discussed the timetable for trade talks with US Treasury Secretary Steven Mnuchin by phone. The pound stayed lower after a slump in the wake of UK Prime Minister Theresa May delaying a critical vote on Brexit.

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December 5, 2018

Asian equities dropped at the start of today in the wake of the biggest slide in stocks on Wall Street since the mid-October downdraft, though US futures advanced after China officially echoed President Donald Trump’s optimism over bilateral trade talks. Losses eased as the trading session wore on for stocks across the region. A cause for concern has been the yield curve, which has further flattened. Adding to the risk aversion overnight was news that UK Prime Minister Theresa May’s push to avoid a so-called “hard Brexit” may be at risk.

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November 28, 2018

Asian stocks climbed, as a rally in tech shares gathered pace, with investors mulling comments from Federal Reserve officials and the chances of a breakthrough in the US-China trade dispute. The dollar maintained gains. Earlier, the S&P 500 Index climbed for a second day. The 10-year Treasury yield was steady as Fed Vice Chairman Richard Clarida backed gradual rate hikes ahead of Jerome Powell’s speech on Wednesday.

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November 26, 2018

Stocks began the last week of November on a positive footing, with most Asian benchmarks higher and US equity futures advancing after last week’s tumble. Crude oil futures stabilized above the $50/bbl mark. Among key variables for investors this week will be Fed officials’ speeches and policy-meeting minutes that may give clues on the outlook into 2019, and a key sit-down between Xi Jinping and Donald Trump. The yen dipped along with Treasuries, while China’s yuan held steady.

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November 16, 2018

Asian equities are set to round out the week in mixed fashion as investors gauge whether China and the US can de-escalate their trade spat before the G-20 summit later this month. Stocks slipped in Japan and Hong Kong, and were little changed in South Korea, China and Australia. Commerce Secretary Wilbur Ross dampened hopes of any imminent US-China deal. The pound steadied after Thursday’s plunge as Brexit again threw the UK government into turmoil.

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November 13, 2018

Asian stocks traded lower Thursday following a tech-led slump on Wall Street overnight though the worst of the losses were pared on hopes for progress in the US-China trade dispute. Treasury yields dropped and the dollar slipped from an 18-month high. Key indexes slid from Tokyo and Seoul to Sydney, with Apple Inc. suppliers under pressure. Stocks came off their lows on a report that China’s Vice Premier will visit the US to pave the way for a meeting between Trump and Xi later this month.

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November 2, 2018

Asian stocks extended their rebound from a rough October, and headed for the biggest weekly rally since July 2016, amid hopes for trade talks and China stimulus. Sentiment proved resilient to underwhelming news from Apple Inc. that hit Nasdaq futures. 10yr Treasury yields edged higher ahead of tonight’s key US jobs report and the US dollar steadied after slumping overnight.

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