You do not have permission to delete messages in this group
Copy link
Report message
Show original message
Either email addresses are anonymous for this group or you need the view member email addresses permission to view the original message
to LONGTERMINVESTORS, library-of-eq...@googlegroups.com, DAILY REPORTS, globalspeculators
On the radar:
India's December CPI inflation eased to 9.87% YoY vs. prior revised reading of 11.16%
Global Market Developments:
Fed Official Lockhart said yesterday that the US economy is on "solid footing" and he would support continued cuts to stimulus. He also added that weak payroll growth shouldn't discourage policymakers from reducing monthly bond purchases as long as the US economy continues to gain strength.
Japan's current account deficit in November widened to JPY 592.8 bn (vs. expectation of JPY 368.9 bn), the highest since 1985 on the back of an increase in imports amidst broad-based weakness in Yen and rising demands for energy.
US benchmark equity indices ended in the red yesterday, weighed by Lockhart's hawkish comments. Dow Jones ended down by 1.09% and S&P 500 ended lower by 1.26%.
Asian stocks are trading in the red this morning tracking overnight losses in Wall Street. Shanghai Composite and Hang Seng are down by 0.31% and 0.51% respectively, dragged by losses in carmaker and commodity stocks. Nikkei is trading lower by 2.05% on the back of weak current account balance print released today morning.
US Treasuries are trading marginally weaker today morning, albeit holding on to the recent gains. The 10-year benchmark yield fell by 4 bps yesterday from an intraday high of 2.87% to end the session at 2.83%. Meanwhile, it is currently hovering at 2.84%. Going ahead, markets would closely watch retail sales print due today for further cues.
Domestic Market Developments:
Indian bond and forex markets are closed for trading today on account of holiday.
Indian stocks opened flat this morning despite weakness in global equity markets.
Please find detailed currency views in the attached document.
