Marc Chandler's picture

There is plenty of data out today and it is generally reinforcing our three many thematic points: divergence, weak commodities, especially energy, and the slowing of the Chinese economy. This is helping the U.S. dollar and global bonds, but weighing on equities.

John Mauldin's picture

Russia and its redoubtable president, Vladimir Putin, have been much in the news lately. The latest flurry came when Putin was taken out behind the woodshed at the G20 conference in the Philippines last weekend over his recent moves to inject more Russian troops and arms into Ukraine.

FS Staff's picture

As outlined on January 11th, we believed this year would again defy bearish forecasts and see instead: a positive gain for U.S. stocks, a strengthening dollar, lower commodity prices, and improving U.S. economic growth. Here’s how things have played out so far.

John Butler's picture

The topic of ‘currency war’ has been bantered about in financial circles since at least the term was first used by Brazilian Finance Minister Guido Mantega in September 2010. Recently, the currency war has escalated, and a ‘sanctions war’ against Russia has broken out.

Sheraz Mian's picture

Today’s housing data was broadly mixed, with Starts coming a shade below estimates and Permits a tad above consensus levels. The Starts weakness was primarily in the multi-family (or apartment buildings) category, which tends to be volatile on a month-to-month basis.

Jon Strebler's picture

Last week brought new all-time highs in the three major U.S. stock averages (Dow Industrials, Transports, and S&P 500) nearly every day, continuing the remarkable winning streak that began a bit more than 4 weeks ago and shown below.

Global Risk Insights's picture

The latest foreign exchange fixing (forex) scandal, which led to a $4.3 billion bank settlement with American, British, and Swiss regulators reinforces the difficulties of effectively regulating the financial markets.

Chris Puplava's picture

The US stock market has displayed a strong rally off the October lows and has seasonal tailwinds at its back. However, near-term caution may be advised since we are starting to see some negative divergences in market breadth and the credit markets, suggesting a pause or pullback may be in the works.

Marc Chandler's picture

For nearly a few centuries, the northern Atlantic was the center of the world economy. This era is over. It has been over for some time. Since the early 1980s, more goods cross the Pacific than the Atlantic. This is a crucial development in our lifetime.

Stratfor's picture

We do not normally comment on domestic political affairs unless they affect international affairs. However, it is necessary to consider American political affairs because they are likely to have a particular effect on international relations.

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