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Thursday, August 18, 2022

Dollar Illiquidity – The Ironic Yet Ignored Spark For The Next Crisis

Authored by Matthew Piepenburg via GoldSwitzerland.com,In October of 2019, I began writing/warning of the ignored yet ominous signals coming out of the repo and Eurodollar markets and what the illiquidity (i.e., lack of availability) of U.S. Dollars portended for our markets in the coming years.Well, those years have since arrived.Such dollar illiquidity may seem hard…

Dollar-25-Tree? Discount Retailer Forced To Hike Prices Amid Persistent Inflation

Dollar Tree Inc. has built an entire brand on every item priced under a buck across 16,000 US retail stores in 48 states and five Canadian provinces. But with logistical costs soaring, persistent labor shortages, and the cost of everything rising, the company announced Tuesday that its new price point would be $1.25. "Our Dollar Tree pricing tests…

Gold & The Dollar Soar As CPI Surge Sparks Fed Faux-Pas Fears

On top of yesterday's US PPI and last night's Chinese inflation data, this morning's soaring US CPI (at 40 year highs) appeared to be the straw that broke the back of the 'transitory' narrative, no matter how many times establishment types repeat it...Source: BloombergThat immediately sparked a dramatic hawkish adjustment in STIRs, erasing all of…

Dollar Dives Amid Crypto Chaos As Biden Unveils Big-Spending Bill

The day started off ugly with a big disappointment for GDP growth and ECB's Lagarde failing to jawbone the market down from its more-hawkish positioning on EU rates, but since when has actual fundamental economic data had anything to do with the stonk markets which ripped higher at the cash open. The fact that the…
dollar-&-stocks-bid-to-start-h2,-crypto-bounce-crumbles

Dollar & Stocks Bid To Start H2, Crypto Bounce Crumbles

Small Caps led the market to start the second half of the year and Nasdaq lagged...Stocks extended their recent bounce, but Smart money wasn't buying it...Source: BloombergOr put another way...Value outperformed growth to start H2, pushing back into the green for the week...Source: BloombergBonds ended spectacularly unchanged today after a modest rally across the cash…
dollar-spikes-as-hawkish-fed-tilt-batters-bonds-&-stocks

Dollar Spikes As Hawkish Fed Tilt Batters Bonds & Stocks

The dollar spiked immediately after The Fed admitted it was more than just thinking about thinking about tapering... and raising rates....Gold dumped as the dollar spiked...Bonds were hammered...And stocks tumbled...How quickly will Powell walk back and de-emphasize all of this?
dollar-dives-after-dovish-fed-statement,-bonds-shrug

Dollar Dives After Dovish Fed Statement, Bonds Shrug

Treasury yields are dramatically unchanged after The Fed's latest statement which recognized economic improvements but shrugged off inflation entirely leaving the outlook as dovish as ever.The dollar is reflecting that 'dovishness'...But we note the short-end is hawkishly pricing in a 90-plus percent chance of a rate-hike by the end of 2022...Which is well ahead of…
dollar-dump-sparks-bid-for-bonds,-bullion,-bitcoin,-&-big-tech

Dollar Dump Sparks Bid For Bonds, Bullion, Bitcoin, & Big-Tech

The Dollar resumed its freefall today, back to pre-FOMC plunge levels today...Source: Bloomberg...and it's gone...The short-term rates market continued its dovish reversal, now expecting over 10bps less tightening by the end of 2022...Source: BloombergAnd that helped send the S&P to a new record high (Nasdaq outperformed on the day and Small Caps managed solid gains…
the-dollar,-long-&-short

The Dollar, Long & Short

Via DataTrekResearch.com,We’re dedicating today’s entire Data section to the value of the dollar and how this translates to US corporate earnings fundamentals. We use the Federal Reserve’s Trade Weighted Dollar Index rather than the DXY because it includes a broader and more representative basket of currencies. DXY doesn’t even have the Chinese yuan or the Mexican…
dollar-goes-pow(ell)

Dollar Goes Pow(ell)

For his daily Chart of the Day, Deutsche Bank's Jim Reid links to yesterday's Fed meeting which the DB head of FX Strategy George Saravelos thought confirmed the team’s medium-term bearish dollar view highlighted in this week’s new DB World Outlook (WO).George - who yesterday also touched upon the other helicopter about to flood the…

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