Thought For A Day
Archives of “April 2020” month
rssThis recession will be deeper than the 2008 Great Recession, DB has forecasted.
#Turkey CDS price jumps >600, highest level since 2003 as investors become nervous again w/Turkey FX reserves fell to $64.1bn.
Because its a supply AND DEMAND shock… #oil
10 million jobs out of the window. Caution is warranted.
There you go! Bank of America’s Bull & Bear Indicator has dropped to ZERO.
The Relationship Between Earnings & Bear Markets
Save this chart! This is how Central Banks combined balance sheets looked like as the crisis started…
The BOJ’s balance sheet is now 108% of GDP.
CFTC commitments of traders: EUR longs continue to grow.
Forex futures positioning data for the week ending March 31, 2020.
- EUR long 74K vs 61K long last week. Longs increased by 13k
- GBP long 5K vs 11K long last week. Longs trimmed by 6K
- JPY long 18K vs 24K long last week. Longs trimmed by 6K
- CHF long 5K vs 5K long last week. No change in the current week.
- AUD short 31k vs 25K short last week. Shorts increased by 6K
- NZD short 16K vs 16K short last week. No change in the current week.
- CAD short 22k vs 29K short last week. Shorts trimmed by 7K
Highlights for the current week:
- The EUR longs continued to add in the current week. The longs are at the highest level since June 2018. During the February 25 week, the shorts were at the lowest level at -114K. Since since that time, the position as swung 188K. The EURUSD has moved lower this week against the long position.
- AUD shorts increased by 6K this week. The AUDUSD as drifted lower this week
- Other positions remained relatively static and small. The CHF and NZD remained unchanged in the current week.