U.S. Equity Markets fell more than 1% as political unrest in Hong Kong and Argentina fuelled a rally in Global Bonds that continues to raise the spectre of a looming recession. Gold surged. The S&P 500 Index slumped for a second day and now sits almost 5% below its all-time high as the rally in Treasuries sparked by last week’s escalating trade tensions picked up steam. Risk assets came under pressure after authorities closed Hong Kong’s airport and a Chinese official said the city was at a “critical juncture.” Argentina’s Peso and equities sank after voters turned on the President in a primary vote. Corn futures plunged the most since 2013 as more of the grain was planted than analysts had estimated. The weakness in stocks fed demand for haven assets, pushing the 10-year Treasury yield lower by 10 basis points and boosting the Japanese Yen for a fourth day. China’s Central Bank fixing continued to signal its determination to manage an orderly depreciation. Italian bonds led gains in European debt after Fitch affirmed the country’s credit rating on Friday. The Pound strengthened following three sessions of declines.
To mark my 1875th issue of TraderNoble Daily Commentary I am offering a special 2 year rate of Euro 2750 for my Platinum Service which includes 1 to 4 updated emails throughout the trading day To demonstrate this value, a monthly subscription over the same period would cost 4440 euro in total This offer represents a 38% discount and is open to both new and existing members. If anyone is interested in this offer can you please email me on email@example.com for details
For anyone following my Platinum Service it made 270 points yesterday and is now ahead by 648 points for August, having made 1153 points in July, 1346 points in June,1722 points in May, 955 points in April, 1027 points in March, 1013 points in February and 1671 points in January. Since I started this New Platinum Service in June 2015 it has averaged a monthly gain of over 1600 points
I have a YouTube Channel which contains recent interviews I have given. This can be viewed by clicking HERE Please subscribe to this for new interview notification