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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.
  • 1d
    jcsousa jcsousa
    Thanks Ian. Enjoy your holidays.
    tonyovsalford tonyovsalford
    Thanks Ian. Have a great Xmas and brilliant new year.
    See you 2018🎉👍
    Andrew Perkins Andrew Perkins
    Enjoy the time off mate and thanks for all th3 hard work this year
  • 1d
    Dance like nobody's watching Dance like nobody's watching
    Never trust a 1, Banker 2, Lawyer and 3, Chinese :)
    Daniel CN Daniel CN
    Dear Kay, thanks a lot for the insights. I am 42. I opened my company at age 16. I was at the forefront of the internet. I...
    Daniel CN Daniel CN
    Am truly interersted. Could there be one single slogan that explains it? I mean as a marketeer I love the marketing of Bitcoin a lot. Its narrative,...
  • Calendar event / Friday at 11:00 GMT

    IE GDP

    Med GDP, Q/Q%
  • 1d
    alki alki
    Have a great Christmas and many blessings, Alan! I am out as well. Enough for this year.
    AlanCollins AlanCollins
    Late move south. Would take some back at 1.1775 now instead of 1.1764. Stop at 1.1800 for any small remaining balances
    jcsousa jcsousa
    Thanks Alan. Have a nice holidays.