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Fed Kocherlakota: 2015 Rate Rise Not Appropriate, Open To More Stimulus

EMOTION MOVING MARKETS NOW: 11/100 EXTREME FEAR

PREVIOUS CLOSE: 12/100 EXTREME FEAR

ONE WEEK AGO: 5/100 EXTREME FEAR

ONE MONTH AGO: 21/100 EXTREME FEAR

ONE YEAR AGO: 33/100 FEAR

Put and Call Options: EXTREME FEAR During the last five trading days, volume in put options has lagged volume in call options by 22.79% 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: FEAR The CBOE Volatility Index (VIX) is at 28.99, 77.76% above its 50-day moving average and indicates that investors are concerned about the near-term values of their portfolios.

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 – I JUST LOVE MY NEW SWEATER

 

UNUSUAL ACTIVITY

WLL vol pop to highs Activity in the SEP 17 CALLS 1800+ @$1.30

LL Jan 15 PUT Activity 10k @$3.30 on offer

SSTK SEP 35 CALLS 1300+ @$.75 ON offer

TCK Nov 9 CALL Activity @$.25 right by offer 5000 Contracts

RE Director Purchase 5,000 @$169.5 Purchase 5,000 @$170.00

More Unusual Activity…


HEADLINES

 

Fed VC Fischer: Still too early to tell if September hike will happen

Fed Kocherlakota: 2015 rate rise not appropriate, open to more stimulus

Fed Mester: US economy can support rate increase

Fed Bullard: Rate hike would signal confidence, unfazed by mkt turmoil

Fed's Lockhart: Market vols makes him less certain on Sept hike

Atlanta Fed GDPNow tracker updated to 1.2% (prev. 1.4%)

US Personal Income (MoM) Jul: 0.40% (est 0.40%; prev 0.40%)

US Personal Spending (MoM) Jul: 0.30% (est 0.40%; rev prev 0.30%)

US PCE Core (YoY) Jul: 1.20% (est 1.30%; prev 1.30%)

German CPI YoY (Aug P): 0.2% (est 0.10%, prev 0.20%)

German CPI MoM (Aug P): 0% (est -0.10%, prev 0.20%)

SNB Jordan: Swiss franc significantly overvalued, ready to intervene

 

GOVERNMENTS/CENTRAL BANKS

Fed VC Fischer: Still too early to tell if September hike will happen --CNBC

Fed Kocherlakota: 2015 rate rise not appropriate, open to more stimulus --CNBC

Kocherlakota would prefer a hike in second half of 2016 --FBN

Fed Mester: US economy can support rate increase --WSJ

Fed Bullard: US rate hike would signal confidence --FT

Fed Bullard unfazed by market turmoil --Rtrs

Fed's Lockhart: Market vols makes him less certain on Sept hike, though every meeting is live --MNI

Atlanta Fed GDPNow tracker updated to 1.2% (prev. 1.4%)

SNB Jordan: Swiss franc significantly overvalued

SNB Jordan: SNB stands ready to intervene

Japan EcoMin Amari: Canada elections, US primaries, may affect momentum on TPP talks --Kyodo

Greece's Syriza to win election but face setback, polls show --Rtrs

 

GEOPOLITICS

Merkel, Hollande, Putin plan weekend call on Ukraine --BBG

 

FIXED INCOME

BONDS COMMENT: Reflation threat to bonds as money supply catches fire in Europe --Telegraph

Two departures in Swiss debt capital markets --IFR

Merck jumps in first with jumbo M&A trade --IFR

COMMENT: Treasury Market Is Offering Stock Picks: AT&T, Verizon Are a Buy --WSJ

 

FX

USD: Dollar on track to finish turbulent week higher against euro, yen --MW

CAD: USDCAD retreats from as oil jumps to $45 --FXStreet

GBP: Pound falls vs euro as UK growth slows in Q2 --BBG

CNY COMMENT: China's ongoing FX trilemma and its possible consequences --Alphaville

AUD: Aussie lifted by commodities --Australian

NZD: Kiwi heading for 3.1pc weekly drop after China slump --NZH

 

ENERGY/COMMODITIES

CRUDE: WTI futures settle 6.25% higher at $45.22 per barrel --Livesquawk

CRUDE: Brent futures setlle 5.25% higher at $50.05 per barrel --Livesquawk

CRUDE: Arab Opec producers brace for oil-price weakness for rest of 2015 --Rtrs

CRUDE: Crude short squeezed --Forex.com

METALS: Gold sets up for first gain in five sessions --MW

 

EQUITIES

FLOW: US funds cut recommended global equity exposure again --Rtrs

M&A: Mylan shareholders back Perrigo takeover, tender offer up next --Rrts

BANKS: BofA shareholders should vote to separate the CEO and chairman roles --BBG

GAMING: Battle for Bwin reflects rising stakes --FT

TRADING: Charles Schwab trading system issue resolved --FT

TECH: Facebook must obey German law even if free speech curtailed --Rtrs

 

EMERGING MARKETS

CHINA: Citi: China Will Respond Too Late to Avoid Recession --BBG

CHINA: POLL: PBOC to cut rates again by end of Dec --ForexLive

CHINA: PBOC Conducted CNY60 Bln 7-Day SLO Op. At 2.35% Today --BBG

BRAZIL: Brazil economy dips more than expected --FT

 

S&P affirms Ukraine CC, outlook still negative --Livesquawk