• US 10 year yields fall below 0.52%. Whatever the bond market is saying, it isn't good. https://t.co/jQetI0XZC1
    ForexLive 3m
  • S&P 500 Index opens modestly lower, stays within touching distance of 3,300 By @eren_fxstreet Link #Equities #DowJones #Nasdaq #SP500
    FXStreet News 3m

    Major equity indexes in the US opened the day near Monday's closing levels on Tuesday as investors are waiting for negotiations on the next coronavirus relief bill to conclude. As of writing, the S&P 500 Index was down 0.05% on a daily basis at 3,292, the Dow Jones Industrial Average was losing 0.08% at 26,642 and the Nasdaq Composite was virtually unchanged on the day at 10,906.

    According to the latest market chatter, despite a broad agreement on the extension of the Paycheck Protection Program (PPP), US lawmakers are still far apart on many aspects of the relief bill. 

    Among the 11 major S&P 500 sectors, the Financials Index is down 0.6% on Tuesday pressured by a 5.5% drop witnessed in the 10-year US Treasury bond yield. On the other hand, defensive sectors, Real Estate, Utilities and Consumer Discretionary, trade in the positive territory to start the day.

  • Gold Price Analysis: The next dip may provide a buying opportunity – Confluence Detector By @forexcrunch Link #Gold #XAUUSD
    FXStreet News 3m

    Gold has been edging higher but seems shy of staging a major breakout. The precious metal is pushed higher by the failure of American politicians to reach an agreement on extending federal unemployment benefits and other emergency programs. That implies a bigger package down the road – and more importantly for XAU/USD more monetary stimulus.

    On the other hand, hopes for a coronavirus vaccine remain robust as Novavax and other companies are moving forward to provide immunization. Stocks, bonds, and precious metals are looking for a new direction. 

    How is gold positioned on the charts? Significant hurdles loom over XAU/USD, implying another attempt to push the precious metal to the upside seems futile. However, after extending the downward correction, gold may be ready for the next bullish move – as fundamentals continue pointing higher. 

    The Technical Confluences...

  • Crisis-weary Lebanon braces for Hariri tribunal verdict Link https://t.co/rW1nySL2VF
    Reuters 3m

    BEIRUT (Reuters) - Fifteen years after a truck bomb killed Lebanon’s former Sunni leader Rafik al-Hariri in Beirut, triggering regional upheaval, a U.N.-backed court trying four suspects from Shi’ite Hezbollah delivers a verdict on Friday that could shake the country again.

  • @staceyabrams says her 2018 campaign demonstrated that Democratic candidates can be viable in the deep South. 'We know we can win. We just have to believe it's worth the investment.' Link
    Reuters 3m
  • RT @MadameButcher: Citadel spent the lockdown stocking up on Goldman Sachs MDs Link
    eFinancialCareers 3m

    Citadel has been shopping and Goldman Sachs appears to be its chosen aisle. The hedge fund has added numerous managing directors (MDs) from Goldman Sachs.

    One of the most recent joiners is Sven Khatri, a former managing director in Goldman's strats and treasury quantitative research team. Khatri has joined Citadel as a treasury quantitative researcher according to his Linkedin profile.

  • Ford said that CEO Jim Hackett will retire. Jim Farley has been named the company’s new CEO, effective Oct. 1 Link
    Bloomberg 3m

    Ford Motor said that CEO Jim Hackett, who has led the company’s transformation since 2017, plans to retire from the company. Jim Farley has been named the company’s new president and CEO and will join the board of directors, effective Oct. 1.

  • Will China's national security law prompt a mass exodus from Hong Kong? Hear from various voices across the city in the latest episode of "Hong Kong on Edge 2" Link https://t.co/az5H0hnT2o
    Bloomberg 3m
  • Trump Admin Nearly Doubles Cost To Become US Citizen, Slaps Asylum Seekers With $50 Fee Link
    zerohedge 3m
  • U.S. TREASURY 5-YEAR YIELD FALLS BELOW 0.20% TO NEW RECORD LOW
    zerohedge 3m
  • EUR/USD fades initial gains and turns negative near 1.1720 By @pabspiovano Link #EURUSD #Currencies #Majors
    FXStreet News 8m

    EUR/USD is now receding for the third consecutive session on turnaround Tuesday, always on the back of the moderate pick-up in the sentiment for the buck while at. The same time extending the leg lower from the overbought territory.

    Other than developments from the unremitting pandemic and the performance of fundamentals in the region, investors keep closely watching headlines from the US political scenario, where another stimulus package aimed at helping Americans counteract the impact of the coronavirus remains the centre of the debate between Republicans and Democrats.

    Later in the US calendar, Factory Orders for the month of June will be in the limelight seconded by the IBD/TIPP index and the weekly report on US crude oil supplies by the API.

  • What you need to know about trading in August Link by Giles Coghlan #Forex #Trading #Markets
    FXStreet News 8m

    The generally received wisdom is that summer is a quiet month for trading. Traders are on holiday and markets quieten down. That’s the expectation among many. However, the reality is that August can be one of the most volatile trading months of the year. According to Bloomberg’s Market’s Live blog, the Cboe volatility index has risen an average of+11% in August over the past 15 years. So, August is time of volatility. Given the unusual nature of 2020, this could be a very volatile year!

     

  • What is the relationship between COVID-19 cases, mobility and U.S. economic recovery? We use our Mobility and Engagement Index to explore in the latest post on Dallas Fed Economics. Link
    Dallas Fed 8m

    Americans sharply reduced their mobility in late March and early April, staying at home to avoid COVID-19 infection. As mobility and economic activity resumed in the latter half of April and into May, the renewed movement didn’t appear to reflect local infection rates.

    That pattern changed the following month. Across states, a strong relationship seems to have developed between local COVID-19 cases and mobility. Mobility has declined in states experiencing a rising rate of new cases, while mobility has increased in states that saw a relatively high incidence earlier in the pandemic but an easing in recent weeks.

    Economic activity has exhibited a similar response to COVID-19 outbreaks. Thus, the economic recovery going forward is likely to be geographically uneven, dictated by local infection conditions. A full recovery to pre-pandemic levels of economic activity appears unlikely until the virus is under control.
  • Japan Post to sell Australia's Toll Holdings: report Link https://t.co/q9Tvy5VEW7
    Reuters 8m

    TOKYO (Reuters) - Japan Post Holdings Co Ltd (6178.T) has decided to sell its Australian logistics arm Toll Holdings Ltd, a media report said on Tuesday.

    In 2015, Japan Post acquired Australia’s transport logistics firm Toll for A$6.5 billion ($4.64 billion), making an ambitious bet to diversify overseas. But two years after the deal, it had to write down the bulk of Toll’s value only two years after the deal due to its weak performance.

    Japanese business magazine Diamond reported that Japan Post had started sounding out brokerage firms this week to find advisors for the sale of the troubled Australian firm, citing multiple unidentified sources.

    Japan Post plans to pick two brokerages, one Japanese and one from overseas, by August, the magazine added.

    A spokesman for Japan Post Holdings declined to comment on the media report.

  • A reader asks how they can help ensure mail-in ballots are counted accurately and efficiently. 'Sign up to be a poll worker or a poll watcher,' says @staceyabrams Link
    Reuters 8m
  • Japan’s Nippon Steel is fighting a South Korean court's decision to seize the company's assets over its practice of forced labor during World War Two Link https://t.co/free1jLDls
    Reuters 8m

    TOKYO/SEOUL (Reuters) - Nippon Steel Corp (5401.T) said on Tuesday it will appeal a South Korean court ruling that allows for a seizure of its assets, as tensions between Tokyo and Seoul over the case threaten to flare up again.

  • #ReutersLive: @staceyabrams discusses the biggest challenges @JoeBiden faces ahead of the November 2020 election https://t.co/9sp2N8RDAm
    Reuters 8m
  • A leading association of Turkish doctors says 1,000 people a day are catching Covid-19 in Ankara alone, questioning the accuracy of government figures Link
    Bloomberg 8m

    A leading association of Turkish doctors said on Tuesday that nearly 1,000 people are being infected with the coronavirus every day in Ankara alone, questioning the accuracy of government figures which put the daily nationwide tally of new cases at around the same level.

  • Telehealth is booming during the pandemic, but not everyone is benefiting—especially those already lagging behind in the online world Link
    Bloomberg 8m

    Patients are able to get access to their doctors—even mental-health therapists—online, without driving to the office, paying for parking or sitting idly in the waiting room until the provider wraps up their previous appointment. But not everyone is benefiting. Those most in need might also be the least likely to be able to reap the benefits of telemedicine.

  • There has been a relatively strong rebound in economic activity "with Europe leading the way," says Thiel of BlackRock Investment Institute Link https://t.co/wzAiQLEEUT
    Bloomberg 8m
    failure to get a grip on the pandemic is putting the brakes on its rebound compared with Europe, where many former virus hot spots managed to resume economic activity without causing a similar surge in infections.

  • Why Covid-19 Won’t Stop the New Shadow Banks, comment by @jonsindreu in @WSJheard - Link
    FinReg Alert 8m

    Shadow banking isn’t what it used to be. The Covid-19 crisis, far from tripping it up, could help complete its transformation.

    Last week, investment giant Apollo Global Management announced the creation of a $12 billion platform that will make loans of around $1 billion. This is another early sign that “direct lending”—where funds take on the role of banks by extending loans directly to firms—is expanding beyond its middle-market niche toward funding big companies.

    ...
  • 45 Florida ICUs Have Zero Available COVID Beds; UCLA Says Only 8% Of Fall Classes Will Be In-Person: Live Updates Link
    zerohedge 8m
  • ISM New York business conditions 53.5 vs 39.5 prior Link
    ForexLive 13m
  • .@staceyabrams on the top three policies she wants to see from @JoeBiden if he's elected: 1?? Stabilize our democracy 2?? Stabilize the economy and our public health infrastructure 3?? Restore our place in the international order Link
    Reuters 13m
  • The U.S. economy, battered by a resurgence in the spread of COVID-19, needs increased government spending to tide over households and businesses and broader use of masks to better control the virus, U.S. central bankers said Reuters 13m

    (Reuters) - The U.S. economy, battered by a resurgence in the spread of COVID-19, needs increased government spending to tide over households and businesses and broader use of masks to better control the virus, U.S. central bankers said on Monday.

    The calls for increased government intervention came as U.S. lawmakers and the White House resumed talks on a new government relief package, including a possible extension of unemployment benefits that expired on Friday.

    “The ball is in Congress’ court,” Chicago Fed President Charles Evans told reporters on a call. “Fiscal policy is fundamental to a better baseline outlook, to a stronger recovery and getting the unemployment rate down, people back to work safely, and ultimately reopening the schools safely.”

    Without more government aid, Evans said, “aggregate demand trouble is brewing.” Translated for non-economists: people...

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