Missing Person: BTFDs – Inter Market Analysis

Risk On

  • Norway (record low) and Taiwan Central Banks cut rates to stimulate the economy
  • HSBC thinks China stocks rout is nearly over (define nearly then?)
  • Chinese Premier doing deals – should transform into better numbers in the coming numbers
  •  “ECB Draghi speaks – often a risk on event – but wary that post speech a Risk Off event

Risk Off

  • After VW – BMW on the firing line – German Car industry at stake
  • Japan Nikkei open with series of selling as the index trying to play catch up
  • Draghi says patience and will wait before doing additional stimulus (matter of when not if)
  • Thai Baht slides – emerging stocks continue to perform badly post FOMC uncertainty
  • Commodity market especially metals greatly affected by VW scandal
  • Post Draghi speech turned the market into reversal after several fake high
VW and now BMW + Uncertainty – Bear market continues as rallies are sold – Redemptions?

Extra Stimulus has yet to kick in but wary of the build up to Santa rally



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