The NIKKEI is up more than 700 points or 5%. The Shanghai is off a bit, because they were on siesta last week celebrating monkies. And, Hong Kong is up more than 2%, lending to a fervent rise in the civilized world.
EuroStoxx futures are rallying by 2.77%, with Italian futures meatballing higher by 3.85%.
Here in the states, home of the New World Order, NASDAQ futures are higher by 40.
Gold is getting tea bagged by 1.25%.
Crude is off a smidge, 1%.
Portuguese-German spreads are flat at 329 bps.
Dollars are weaker v euros, by 0.3% and higher v the yen by 0.54%
You do see how all of this is intertwined, yes? If not, feel free to ask questions.
Most importantly, the PBOC are getting extra manipulative with their currency tonight, putting the yuan up by 0.9% to $6.517, representing the biggest one day jump since 2005.
If you enjoy the content at iBankCoin, please follow us on TwitterThe People’s Bank of China earlier raised the daily fixing against the dollar, which restricts onshore moves to a maximum 2 percent on either side, by 0.3 percent to 6.514, the strongest since Jan. 4. A gauge of dollar strength declined 0.8 percent last week, when onshore Chinese markets were shut for the Lunar New Year Holiday
Why, Doc_Fly, would they strengthen Yuan into that horrible trade data? Pissing on Soros etal’s Yuan shorts just because they can?
Maybe this below, a couple of Fly’s posts ago? If you can sell lots of stuff to your own people, you don’t need as much foreign trade.
http://ibankcoin.com/flyblog/2016/02/14/chinese-new-year-retail-sales-soar-11-2/
There’s also the fact that the trade data is history. Maybe they’re expecting better in the future. Like the futures say. Sort of like an earnings miss, accompanied by great earnings guidance for a company’s future. China Inc. may be rising back up. No one really knows, of course, because the country’s economy is so opaque.
I’m not inclined to ditch TLT just yet. Holiday shortened weeks are typically great for relief rallies.
It’s hard to assume that this will last past Friday.
nonetheless – I’ve been long NKD since Friday.
As previously noted, I figured they’d fuck around with the yuan. The idea is to radiate confidence. I say again: after the first crop of shorts get fried, the yuan will shoot back up, and sharply.
Pb is right. It’s not a coincidence that Zhou broke his silence too.
This is orchestrated to castrate.
Here is an article I just found on Zhou breaking his silence. I didn’t know who he was, so I googled him.
http://www.bloomberg.com/news/articles/2016-02-14/pboc-ups-ante-in-quest-for-stability-as-zhou-breaks-long-silence
When is roast beef curtains supposed to give her next imaginary inflationed rate hike mumbo jumbo talk?
The Drop in the dollar was over a multi day period. CHina is just playing catch up. CNH/CNY only up to 1.01 and that is after China again threw 10 billion Yuan at it. IMHO as a Bear I am more concerned with BoJ Kuroda and Abe then China at the moment. This talk of Possible Emergency meetings over the drop in Yen is just Cocaine Talk to the Bulls.
frog is fucking up these hallowed halls. rahagar is a real trader in the halls the bunkers the reality. Brother in arms. Making a huge mistake keeping a sociopath Feel the Bern child on the comments. frog belittles these halls with his allowed presence. Up to you boss.
$DXJ by the way. Trade Lounge.
China bought yen. This was a big part of its ride after the cut.
Regards ,
Chuck Bennett
Chuck I was thinking that when Yen moved up last week.