Daily Note – Hold onto your seats!


  • Equity sell-off continues
  • Eurozone: So why is the Euro so strong?
  • Eurozone: German Manufacturing sentiment improves
  • The Week Ahead: All eyes on the Federal Reserve

Good morning, or rather morning and hold onto your seats!

The selloffs in equity markets continued overnight in Asia, following the collapse in Europe and US markets on Friday. In light of the equity rout, China’s State Council issued new rules to allow pension funds to invest up to 30% of their funds into equity–type assets. However, the SHCOMP and SZCOMP tumbled by 8.5% and 7.6%, respectively last night. The Topix in Japan also fell by 5.0% while SPX futures were down 2.5% during the Asia session.

Global market developments since the release of the July FOMC (last Wednesday) minutes suggest that the probability of a later lift-off has risen profoundly. The Fed would be mad to raise rates in these markets.

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GlobalMacro360 Daliy Note 24th August 2015


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Categories: Daily Note