Bottom Line for all market disruptions the Fed has your back and will be there to the save the day by providing lower rates and Stimulus. This is the main reason why all market corrections or adjustments are short lived; until this pattern is broken it will be difficult for a sustained down move, IMHO.
Both Kohl’s and J.C. Penny’s announced holiday sales that missed forecasts, kohl’s -6%, JCP -3.5% not a good sign of Consumer strength. China’s Vice-premier announced he would travel to the U.S. next week to sign Phase 1 trade deal. Dovish Comments regarding Rates from the bank Of England’s head Carney weighing on the Pound down .5% vs USD.
Bunds down Again today and the one main reason is the Amount of Supply hitting Europe this week, Monday I believe was a daily record amount. Treasuries small bid which is a bit of a head scratcher as Risk On for stocks continues this morning, World Bank Cutting growth forecasts for China and Europe Possibly limiting losses (BBg). Spoos +10 handles Asian Stocks Closed higher, Dax +1.16% Stoxx 50 +.6% Gold continues to collapse down $75 from Yesterday’s highs some 4.75%
Economic Calendar light today all eyes on Tomorrows payroll data,5 Fed speakers are on the schedule and Nat Gas storage data at 9:30.One iran Comment The Plane crash that happened yesterday is still being investigated and nefarious activity is not ruled out