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Sep 8 - China FX Reserves In Record Fall On Yuan Intervention

 

EMOTION MOVING MARKETS NOW: 9/100 EXTREME FEAR

PREVIOUS CLOSE: 11/100 EXTREME FEAR

ONE WEEK AGO: 14/100 EXTREME FEAR

ONE MONTH AGO: 28/100 EXTREME FEAR

ONE YEAR AGO: 47/100 NEUTRAL

Put and Call Options: EXTREME FEAR During the last five trading days, volume in put options has lagged volume in call options by 24.35% as investors make bullish bets in their portfolios. However, this is still among the highest levels of put buying seen during the last two years, indicating extreme fear on the part of investors.

Market Volatility:  NEUTRAL The CBOE Volatility Index (VIX) is at 26.09. This is a neutral reading and indicates that market risks appear low.

Stock Price Strength: EXTREME FEAR The number of stocks hitting 52-week lows is slightly greater than the number hitting highs and is at the lower end of its range, indicating extreme fear.

PIVOT POINTS

EURUSD | GBPUSD | USDJPY | USDCAD | AUDUSD | EURJPY | EURCHF | EURGBPGBPJPY | NZDUSD | USDCHF | EURAUD | AUDJPY 
 

S&P 500 (ES) | NASDAQ 100 (NQ) | DOW 30 (YM) | RUSSELL 2000 (TF) Euro (6E) |Pound (6B) 

EUROSTOXX 50 (FESX) | DAX 30 (FDAX) | BOBL (FGBM) | SCHATZ (FGBS) | BUND (FGBL) 

CRUDE OIL (CL) | GOLD (GC)

 

MEME OF THE DAY – DUBAI GOLD DEALER OLYMPICS

 

UNUSUAL ACTIVITY

SH NOV 25 CALL Activity PRO SHARES SHORT 800 @$.60 on OFFER

NBL SEP 30 CALL Activity @1.60 by offer 6000+ Contracts

VIPS NOV 22 CALLS 3200 Block right by the BID side @$.575

LANC Director Purchase 500 @$96.6

CDE President and CEO Purchase 25,000 @$2.8984

BBT Director Purchase 1800 @$35.797 Purchase 1800 @$35.779

More Unusual Activity…

 

HEADLINES

 

ECB asset buying slows to weakest pace since QE began

BOJ said to waver on confidence in underlying growth

BBK's Weidmann replaces Noyer as BIS Board Chairman

AU Manpower Survey (Q4): 7.00% (prev. 4.00%)

NZ Manpower Survey (QoQ) (Q4): 12% (prev 11%)

UK PM Cameron faces revolt over EU referendum rules

Majority of Brits would vote for Brexit --poll

IEA's Birol: Oil prices to remain low

Glencore to reduce costs by $10bn to cut debt

Tesco agrees sale of South Korean business for £4bn

China FX reserves in record fall on yuan intervention

China to cut dividend taxes for long-term shareholders

China cuts 2014 growth rate to 7.3%

 

GOVERNMENTS/CENTRAL BANKS

BBK's Weidmann appointed BIS Board Chairman, replacing Noyer

BOJ said to waver on confidence in underlying growth --BBG

France's Hollande: French Growth Expected At More Than 1% In 2015 --Rtrs

Hollande: E2 Bln in 2016 Tax Cuts Won't Raise Deficit --MNI

UK PM Cameron faces parliamentary revolt over EU referendum rules --Rtrs

EY: UK FinMin Osborne's bank raid 'to raise double forecast' --SKY

Poll suggests majority of Brits would vote for Brexit --CNBC

ESM's Regling confident IMF will participate in Greek program -Rtrs

Greece's Tsipras pledges to continue fighting for better bailout terms --WSJ

Tsipras rules out possibility of cooperation with New Democracy --Enikos

GEOPOLITICS

IAEA: North Korea reportedly building at nuclear site --JP

FIXED INCOME

ECB Asset Buying Slows to Weakest Under QE in Summer Lull

ECB PSPP (04 Sep): EUR301.447B (Prev EUR289.537B)

ECB CBPP3: EUR112.215B (Prev EUR111.116B)

ECB ABSPP: EUR11.494B (Prev EUR11.112B)

US companies dominate Eurozone debt issuance --WSJ

Sovereign borrowers are falling behind on record sums of debt --FT

Asset-backed debt losses mount as Draghi support proves feeble --BBG

Zurich Said to Arrange $8.4 Billion Bank Financing for RSA Bid --BBG

Treasury Market Liquidity To Be Bullish In Mid September --Wall St Examiner

FX

GBP: Sterling gets respite from sell-off --Rtrs

USD: DB cautions against USDJPY dip-buying

CHF: Franc weakens after Swiss data --FT

CNY: China FX reserves fall by record $93.9bn on CNY intervention --WSJ

EM FX: Rand, lira weighed by global and local concerns --FT

EM FX: Ringgit falls to new 1998 low amid uncertainty

COMMODITIES/ENERGY

CRUDE: Rosneft chief rules out Russia/Opec co-operation --RT

CRUDE: IEA's Birol: Oil prices to remain low --SZ

COPPER: Glencore cuts give copper a leg up --FT

EQUITIES

C&E: Glencore swings $10bn axe to cut debt --FT

M&A: Tesco agrees to sell South Korean business for ?4bn --BBC

M&A: Microsoft poised to buy Israeli cybersecurity firm --CNBC

DEALS: Goldman group buys Barclays secured lending unit --FT

C&E: Rio: expect partnerships, not M&A amid slump --FT

BANKS: EBA reveals shrinking pool of millionaire bankers --FT

CRA: Moody's revises Mitsubishi's outlook to stable; affirms A1 rating

AUTOS: Fiat Chrysler recalls 8,000 Jeeps amid hacking fears --IBT

EMERGING MARKETS

China cuts 2014 growth rate to 7.3% --WSJ

China Financial Futures Exchange proposes circuit breakers for Chinese stock markets

China to cut dividend taxes for long-term shareholders --Rtrs

China End -Aug Gold Reserve: $61.8B (prev $59.2B)

China End- Aug Forex Reserves: $3.56T (est $3.58T, prev $3.65T)

 

COMMENT: Is it time to declare an EM crisis?