trading recap

Overall: “If I could, I would rewind time by many, many years, so that I could better prepare,” announced Merkel. “Wir schaffen das (we can do it) has become a simple slogan, almost an empty formula that underestimated the scale of the integration challenge,” admitted Angela, her mea culpa lifting the burden of denial, liberating her to act, to lead Europe once again. Her party had just lost its 4th regional election

Overall: “Stimulus fears drag $1trln of bonds back to positive yields,” cried the Financial Times. And he sipped a skinny latte, afraid of whole milk. “The EU is in a critical situation,” warned Merkel, the headline racing through the Twittersphere, embedding itself into the homepage of every website on his iPad. The horror of European disintegration flashed through his mind, which was even scarier than the prospect

Overall: Kaboom! The earth shook. A manmade tremor. The chubby North Korean kid had popped off another plaything. The dark side of mankind’s technological coin. You see if Apple can waterproof an iPhone 7 supercomputer, any paranoid dictator can eventually miniaturize a nuclear weapon; if we allow him. And we have. Naturally, every coin has two sides, and mankind’s eternal tale is shaped by how we react to our tails.

Overall: “The biggest things tend to be done by people who primarily believe in a mission and are not trying to build a company,” said Mark Zuckerberg in Rome, describing common traits of successful entrepreneurs. “They’re done by teams, not by individuals; and by people who just don’t give up,” he continued. A SpaceX rocket exploded. An awe-inspiring fireball. A shockwave whose force rippled outward in direct propor

Week-in-Review (stats in YoY terms): Mon: S&P maintains negative HK outlook, India appoints Urjit Patel central bank governor (inflation hawk), UK economic surprise index 3yr high, Mexico Q2 quarterly GDP contracts 1st time since 2013 (+2.5% yoy), Fed’s Fischer “inflation within hailing distance of 2%,” S&P 500 trailing 12mth PE hits 25.3x (vs post War avg 19.2x), S&P -0.1%; Tue: China FX basket new lows

Week-in-Review (stats in YoY terms): Mon: Japan GDP +0.2% (exp +0.7%) IP -1.5%, 10yr Gilt yield record low 0.50%, US declares Puerto Rico Zika health emergency, US Empire manufacturing survey -4.8 to -4.2%, S&P +0.3%; Tue: Shenzen Connect to be launched by year-end, Yen strengthens past 100, RBA minutes upbeat on economy despite rate cut, India wholesale prices +3.6% (2yr high), Russian stocks hit record, German

Week-in-Review (stats in YoY terms): Mon: China exports +2.9% (imports -5.7%), China 10yr yield 2.7% record low, iron ore prices hit 2yr high, OPEC to hold informal Sept meeting, Italy high court approves Renzi constitutional referendum (Nov vote expected), Spain 10yr bond yields below 1%, Greece CPI -1.0%, Swiss CPI -0.2%, S&P -0.1%; Tue: China CPI -0.1 to 1.8% (core +1.8%) PPI -1.7%, Japan machine tool orders -

Week-in-Review (stats in YoY terms): Mon: China PMI +2.0 to 50.6, Japan PMI +1.2 to 49.3 (sub-50 for 5th mth), Abe aide Hamada favors proclaiming debt monetization policy (JGB yields surge), Aussie CPI -0.5 to +1.0% (home sales +1.0%), India PMI +0.1 to 51.8, Indonesia PMI -2.5 to 48.4, EU banks stocks fall despite generally positive ECB stress test (Monte dei Paschi is exception, rallying following bailout), UK PMI

Week-in-Review: Mon: Japanese trade surplus surges (exports fall for 9th mth, imports fall for 18th mth), Bank of Israel hold rates at 0.1% (cites Brexit risks), UK biz confidence hits post-GFC lows, German business confidence jumps, Greece loosens capital controls, Mexico retail sales +8.6%, Brazil consumer conf +5.7 to 76.7, odds of 2016 Fed rate hike rise to 50%, Verizon buys Yahoo for $4.8bln, S&P -0.3%; Tue: