Turkey Stocks, Lira Slide After Mnuchin Threatens More Sanctions

The Lira and Turkish stocks are sliding notably after Treasury Secretary Steven Mnuchin warned that Washington is preparing more sanctions for Turkey due to the lack of progress on the release of Pastor Brunson. Following a Turkish court’s refusal yesterday to release American pastor Andrew…

US Futures Surge, Yuan Jumps And Dollar Drops As China-US To Resume Trade Talks

Heading into Thursday trading, global stocks were set for another downbeat session when China’s Ministry of Commerce broke news broke that – at the invitation of the US – China would send its Vice Commerce Minister, Wang Shouwen, to the U.S. for low-level trade talks…

Traders Have Never Paid So Much For Crash Protection

Until very recently, tech stocks were soaring to record highs and a slump in volatility suggested investors brushing aside market risks, trade war concerns, and Central Bank tightening. However, amid all this calm, there is at least one gauge of investor sentiment that is at full panic ’11’…

Global Stocks ‘Miraculously’ Brush Off Emerging Markets Massacre

Overheard everywhere today… Emerging Market FX was where the headlines were today… But stocks in China, Europe, and US all saw miraculous ramps  as EM tumbled…   Obviously Turkey led the charge… CBRT desperately defended the 7.00 line in the sand for USDTRY..   We…

Elon Musk, Tesla Sued For Fraud Over Tweets, Going Private Transaction

On Thursday, following the latest dramatic moves in Tesla stocks which initially surged following Musk’s proposed “funding secured” going private tweet, then slumped when it emerged that there had been no prior discussion with investors, we suggested that Tesla may soon be the one company…

Turkish Lira, Stocks Jump After Jay Sekulow Says “Close To Resolution” On Pastor Brunson

With stocks tumbling into the Friday close following the collapse of the Turkish lira,, and with Trump a stickler for no red days especially when he is on vacation, traders were wondering where today’s stick save would come from. We got the answer moments ago…

Europe’s Thinnest Market In 18 Years Sends Ominous Signal

While US investors are fighting each other off to buy stocks (well FANG stocks), Chinese and European equity markets have suffered in recent months amid growth concerns and trade war fears. One might not know it looking at the Euro Stoxx 50 Volatility Index hovering…

Bonds & Bitcoin Bid As Musk Massacred, Russia Routed, & Turkey Trampled

To all the Tesla bulls who bought earlier in the week on Musk’s Tweet… China stocks rebounded overnight   Mixed day for Europe, Germany up, Italy down…   Nasdaq and Small Caps in the US led the day (short squeeze, see below) but Dow, S&P,…

Futures Flat As China Charges Higher; Ruble, Lira, Kiwi Collapse

If yesterday global stocks largely ignored Wednesday’s slump in Chinese stocks, today they are doing the mirror image, barely responding as the Shanghai Composite rebounds strongly from near 2018 lows. European shares slid while U.S. index futures were mostly flat following a positive session in…

Nasdaq Bounces But Dollar, Ruble, Cryptos, China, Tesla, Italy, & Crude Crumble

Just because it makes me laugh… The Great Fall Of China continues…   European stocks limped lower on the day…   But US Stocks miraculously bounced at the cash open once again…but ended ugly with only Nasdaq holding gains…   S&P and Nasdaq remain shy…