Market Commentary-January 12

American markets opened light where they were to read the day's lows, however encouragingly consumed the rest of the trading day recovering. By the end of the day, all main indices had moved back to virtually unchanged and promoted that marked another weekly winning. 

Both the DJI and the S&P500 have now concluded their third positive week in a row, finishing up above 2% each; while the Nasdaq did even much better with a plus 3.2% higher. with the upcoming week, we begin the earnings numbers reports for the financial sector, and Citibank is the first to report on Monday. 

As the US Treasury curve flattens, speculation arises, and this effects banks bottom line. 2-year/10-year’s are now priced about just 16 bps (basis points), which will presumably hit banks revenues stream. 

Though capital flow continues headed towards America, so this suggests financials will presumably lag in rallies. Volatility at this point is presumed to return moreover in Europe given the Brexit vote scheduled next Tuesday.

Last minute positivity in America was published into the Asia-Pacific market and we observed all primary markets open flying. The Japan Nikkei index grew 1% on the trading session, despite posting mediocre economic data.

The Nikkei index did not produce volatility, and the 1% increase proved useful notably as the currency (Yen) held its spot. The H.K. Hang Seng and core Shanghai indices marked similar days as producing hit highs just following the market open. 

However, dropped it all and was back at unchanged territory before the market closed at the day's highs. Closing plus 0.5% and 0.75% respectively, it was the Yuan (or CNY) which rallied plus 0.35% on the close to concluding a healthy week.

Early morning increases were lost in Eurozone as we saw a weak American open. Eurozone has seen a solid week over-all; however, the worries are ever present for main Europe. The absence of news arising from the U.S. - China trade talks is springing to expand fears for global growth.

All core indices: FTSE, DAX, and CAC all closed off nearby minus 0.35%; however, this wasn't indeed where all the talk was focused. Headlines from the U.K. that the Brexit day effective on March 29th this year maybe scratched from the law if PM May’s vote proves unsuccessful in the upcoming week! 

The Euro Dollar lost as well as some of the Pound hedged business as it dropped 0.3% versus US Dollar, bringing it down to the middle of 1.14 handle. Given this talk about the weak economic data tended to be overlooked at least for now – Gross Domestic Product is the lowest in half a year.

But, as we all understand, they may have been neglected now, however, are never forgotten!

Arriving from the previous day’s loss, Bitcoin is trading mostly unchanged on Friday's session; however, the coin remains on the path to finish out the week in the red territory.


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