Opinion – Monday 21 December 2015

A big ‘risk-off’ day last Friday with US stock indices off around 2% and the VIX adding back 1.76 to trade back above 20 (20.7). Friday was one of the four ‘triple witching’ occasions of 2015 (expiration of stock index futures, index options and individual share...

Opinion – Friday 18 December 2015

While European Equities closed higher yesterday in what turned out to be one of the wildest trading sessions of the year to date, the US market opened down and it’s remained that way into the last hour of trade where the Dow closed 250 points lower at 17,495. The 15...

Opinion – Thursday 17 December 2015

Nine and a half years on from the last Fed rate hike and seven years on from when interest rates were first set at the effective zero lower bound (0-0.25%) the Fed has seen fit to sound the death knell for ZIRP, lifting the target rate for the Fed Funds rate to a...

Opinion – Wednesday 16 December 2015

As we wait for the FOMC and Janet Yellen this evening the Governor of the Australian Central Bank Glenn Stevens has gone early, the AFR publishing its now traditional end-of-year interview with him yesterday morning. Nothing earth-shattering here with no direct...

Opinion – Tuesday 15 December 2015

Initially yesterday was a choppy trading session for markets, carrying on with last week’s risk-off mood with Oil initially testing new lows and European stocks heavy. A measure of calm returned, Oil bounced off its lows, as did the Aussie dollar which is trading this...

Opinion – Monday 14 December 2015

Last Friday’s trading session saw a surge in risk aversion with sharp losses in equity indices, the US Dollar underperformed against other majors while safe haven demand pushed core global bond yields lower. The fall in Oil prices to a new seven year low was already...