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  • Squawk / Friday at 21:45 GMT
    Managing Director / Technical Research Limited
    New Zealand
    The stock market at a new record, yield curve flattening, Bitcoin surging..............Just another day in the US financial markets

    Behind the scenes there are a couple of developments worth noting.

    First, the yield on the S&P 500 has been declining while the 2-year Treasury bond yield climbs, closing the big gap that has been in place since the GFC.

    See chart below.

    Some asset allocation models will signal this as justification for a move from equities into bonds.

    Second, the tax bill that looks a done deal to pass thru Congress next week could lead to repatriation of up to $2 trillion of funds US companies are holding offshore. This could lead to a significant dollar shortage in the money markets. The EURUSD cross currency swap basis is moving accordingly, breaking under 100 basis points. It usually drops at year end but this time the move is pronounced and likely to be maintained.

    See chart below

    This could start to have an impact on EURUSD.
    Read the Squawk
    Treve Treve
    Max, great coverage this week from you! If you possibly have the time (and I can imagine how busy you are trading the markets) it would...
    Max McKegg Max McKegg
    Thanks Treve, as always there have been frustrating and testing periods (aplenty) in 2018 but applying stringent money/risk management (with considerable patience and trading discipline)
    has been the...
  • Article / Friday at 13:01 GMT

    Dance like nobody's watching

    FX Trade Strategist /
    Dance like nobody's watching
    The US dollar is finishing the week with losses across the board led by a 2.7% gain in the New Zealand dollar thanks to a mix of strong regional data and dovish central bank policy statements.
    Read the article
    John Shaw John  Shaw
    Thanks very much for sharing Mike.
    Have a great weekend my friend.
    Market Predator Market Predator
    Michael: This is my last trading week in 2017, so thanks a lot for your great news blog.
  • 3d
    IL IL
    Txs for update:-) ... and I want to add, that Dow manipulations has got so obvious that I can document it with the Screen dump from...
    IL IL
    actually Dow should close with minus 6 points today, according to the stocks
    djustoe djustoe
    All the major indices are being manipulated by the various central banks around the world. Its not something ever given mainstream media attention though.
  • Trade view / Wednesday at 1:02 GMT
    Short term

    Recovery under way for NZDUSD

    Managing Director / Technical Research Limited
    New Zealand
    Completed seven-week Inverse Head & Shoulders for NZDUSD. Support is at 0.6915/0.6900, 0.6875 at the maximum.
    Upside potential is towards 0.7115/0.7150.
    Read the Trade View
    Patto Patto
    Republican candidate has lost Alabama for the first time in decades. But not much reaction in USD so far.....
    Morten Olby Morten Olby
    Good call again Max! Well on the way in 0,6995 now.
    smottee smottee
    There doesn't seem to be much follow-through here Max, are you considering taking profit on this trade?
  • 4d
    John Shaw John  Shaw
    Not too many sane thinking deficit hawks left in Washington there Mike.
    Corker and Paul are pretty much about it.
    Saxo user tired of spam Saxo user tired of spam
    Saxo, please stop sending me this spam in my notifications in the trading app.

    Thanks a lot