U.S. non-farm payrolls revised -818k in year to March
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Japan leads the Asia-wide stock market recovery charge from Monday's selloff
Monday - Nikkei 225 index -12.4%, second largest fall on record
Early Tuesday - Nikkei 225 index +10 .3%, on track for third largest rise on record.
A sign that Monday's volatility was way overdone?
Monday - Nikkei 225 index -12.4%, second largest fall on record
Early Tuesday - Nikkei 225 index +10 .3%, on track for third largest rise on record.
A sign that Monday's volatility was way overdone?
"Up the escalator, down the elevator shaft" - not dollar/yen, but US interest rates. Fed hiking cycles are often gradual - "measured pace", anyone? - but not easing cycles. This time is no different.
COLUMN-Gradual Fed rate cut hopes were always misplaced
reuters.com/markets/us/hop…
COLUMN-Gradual Fed rate cut hopes were always misplaced
reuters.com/markets/us/hop…
www.reuters.com COMMENTARY: Hopes for gradual Fed rate cuts were always misplaced "Up the escalator, down the elevator shaft" is a well-worn FX market maxim describing the dollar's typical moves against the yen. The U.S. currency tends to rise steadily over time, but when it... VIX volatility index - Wall Street's 'fear index' - surges above 65, its highest ever except for global financial crisis in 2008 and pandemic in 2020.
Higher than peaks of Asian crisis, LTCM, dotcom crash, 9/11, taper tantrum, US debt downgrade, Volmaggedon.
Panic or justified?
Higher than peaks of Asian crisis, LTCM, dotcom crash, 9/11, taper tantrum, US debt downgrade, Volmaggedon.
Panic or justified?
Japanese stocks tumbling. The broad Topix index is down 7% and on track for a two-day fall of 13%.
That would be the fourth biggest two-day fall in almost 50 years, topped only by:
Oct 1987 (Black Monday)
Oct 2008 (Great Financial Crisis)
March 2011 (Fukishima disaster)
That would be the fourth biggest two-day fall in almost 50 years, topped only by:
Oct 1987 (Black Monday)
Oct 2008 (Great Financial Crisis)
March 2011 (Fukishima disaster)
