Only Charts The Amount

Sunrise Market Commentary - Fixed Income: German yields set record lows - Depressing April PMI's and unemployment data in the EMU set the tone for a risk off session. Core bonds surged higher and the German Bund future reached a new record high. In the US session, US equities rebounded and triggered profit taking in US treasuries. German bonds stayed near the highs however. - Currencies: Awful EMU PMI data hit the euro - The focus in currency trading shifted from the US to Europe. On Tuesday, EUR/USD declined due to dollar strength in the wake of the ISM release. On Wednesday, an awful set of EMU data triggered a next selling wave. EUR/GBP continues to set new lows, too. We doubt that the Draghi press conference will be able to change the course of events The Sunrise ...

Sunrise Market Commentary - Fixed Income: Small changes after volatile trading - Core bonds traded volatile due to economic data and bond auctions. The Fed had the final saying. The FOMC statement showed that the Fed was slightly more optimistic on growth and the governors more hawkish in their rate forecasts. However, policy remains unchanged and Bernanke kept the door for more QE open. - Currencies: Fed doesn't help the dollar - On Wednesday, trading in most major currency cross rates was confined to recent ranges. EUR/USD is holding near the recent highs. The Fed kept a soft tone and this was a slightly negative for the dollar. Sterling lost temporary ground as Q1 GDP data showed that the UK has slipped back into recession. However, the EUR/GBP 0.8222 resistance did its job. ...

Sunrise Market Commentary Fixed Income: Political developments supportive for core EMU bonds Political developments over the weekend are supportive for global core bonds, but strong technical resistance (contract high; inverted channel) come into play. In France, presidential candidate Hollande beat current president Sarkozy in the 1st round of the French election and in the Netherlands, the government fell as Dutch budget talks collapsed. Currencies: EUR/USD fails to take out first resistance at 1.3213 On Friday, the euro was rather well bid. EUR/USD tested the 1.3213 resistance but failed to sustain above this level. EUR/GBP stayed below the 0.8222 previous range bottom, confirming the break of earlier last week. Cautious sentiment on risk will probably cap the topside ...

I have to tell you what’s on my mind this morning after watching the price action again yesterday… I know, it’s just me, and no one else in the writing/analyst world will tell you this, because they have no proof… I don’t either, but that never stops me from saying what’s on my mind regarding these markets now, does it? After watching time and time again, the overseas markets take the dollar to the woodshed, and then when the New York traders come in, the price action all gets reversed. I thought to myself, “Self, doesn’t it look like New York traders have orders from the top of the house to make sure the dollar doesn’t fall off a cliff? Why, yes, self, it does look like that!” Now let’s get back to reality… Here’s an illustration that shows us just how dumb the markets are these days… ...

(Reuters) - The euro hit 16-month lows against the dollar and sterling on Friday and hovered near an 11-year low versus the yen, with further declines expected as worries grow about a worsening euro zone debt crisis and sovereign funding pressures. Next week's Italian and Spanish government bond sales are seen as the year's first big tests of fragile euro zone countries' abilities to raise funds and are likely to keep the market on edge and the euro under pressure. U.S. jobs data due at 1330 GMT could provide some optimism on the outlook for the U.S. economy after a measure of private-sector hiring surged in December. They are expected to show a rise of 150,000, but many think the figure may be higher. Strong U.S. jobs data could help risk sentiment but many analysts expect this may ...

The numbers tell us America is in decline… if not outright collapse. I say “the numbers tell us” because I’ve become very sensitive to the impact this kind of statement has on people. When I warned about the impending bankruptcy of General Motors in 2006 and 2007, readers actually blamed me for the company’s problems — as if my warnings to the public were the real problem, rather than GM’s $400 billion in debt. The claim was absurd. But the resentment my work engendered was real. So please… before you read this column, which makes several arresting claims about the future of our country… understand I am only writing about the facts as I find them today. I am only drawing conclusions based on the situation as it stands. I am not saying that these conditions can’t improve. Or that they ...

(Reuters) - Gold dropped about 3.5 percent on Wednesday as a technical sell-off, year-end fund liquidation and plunging commodities fueled bullion's second-worst rout since the 2008 economic crisis. Bullion's losses snowballed after it broke below its 200-day moving average -- a key technical support it had held for nearly three years. Gold option volatility also exploded as investors sought to hedge against downside risk in underlying futures. The magnitude of gold's decline dwarfed equities' losses. Bullion was already pressured by the previous session's news the U.S. Federal Reserve did not offer new economic stimulus and as European debt fears lingered. Rampant market talk that possible liquidation by a big hedge fund to meet redemption demand ahead of the year end also weighed ...

The Week Ahead Highlights EU contagion spreading to Germany; French and Italian debt auctions next week Global growth outlook deteriorates Risk assets in full retreat EU contagion spreading to Germany; French and Italian debt auctions next week On Wednesday, Germany was only able to sell about 2/3 of the EUR 6 bio in 10-year government bonds on offer, making it the sixth of the last eight bund auctions that went undersubscribed. But the amount left on hold was the highest proportion of unsold 10-year debt since 1995. While the German finance ministry downplayed the shortfall as ‘technical' in nature, it strongly suggests that investor fears are now engulfing the bulwark of the Eurozone. The failed auction comes on the back of continued insistence by the German government ...

Comments by ECB President Mario Draghi highlight the ECB's position in the European debt crisis. His remarks suggest the European Central Bank will not come to the rescue of financially pressured nations. However, a creative solution between the ECB and the IMF may allow the ECB to avoid the restrictions placed upon the central bank by EU treaties. Economic News CAD - Canadian Inflation Overshoots Forecasts Canadian inflation for the month of October came in higher than expected with core CPI climbing 0.3% m/m on consensus forecasts of 0.2%. Headline CPI was also higher at 0.2% m/m on expectations of only 0.1%. The year-over-year data requires a second look as it shows core inflation rate actually fell to 2.1% vs. 2.2%. Despite the drop in the annual inflation rate the monthly ...