aussiebear Posted June 21, 2010 Report Share Posted June 21, 2010 Yahoo glitchy this am but it's clearly up for the early openers: Kiwis +0.7%, Aussies +1.2%, Nikkers +1.8%, Sth Korea +1.4%, Singers +1.1% and Taiwan +1.4%. For All Ords it's a surge for Telecomms (due to Telstra) +4.1% followed by Miners +1.3%. Utilities is the only red sector, -0.2%. Link to comment Share on other sites More sharing options...
aussiebear Posted June 21, 2010 Author Report Share Posted June 21, 2010 http://finance.yahoo.com/intlindices?e=asia Link to comment Share on other sites More sharing options...
aussiebear Posted June 21, 2010 Author Report Share Posted June 21, 2010 http://money.cnn.com...s/morning_call/ http://www.kitco.com http://www.kitconet....ase_metals.html Link to comment Share on other sites More sharing options...
aussiebear Posted June 21, 2010 Author Report Share Posted June 21, 2010 Taken at airport of Wuhan, China. Link to comment Share on other sites More sharing options...
aussiebear Posted June 21, 2010 Author Report Share Posted June 21, 2010 All cheery and green for the Asia-Pacific region. All Ords closed +1.3% led by Telecomms +3.2%, Miners +2.2% and Materials +2%. Utilities closed flat and Consumer Discretionary +0.2%. Some big rises in Asia: China +2.9%, Honkers +3%, India +1.9% and Nikkers +2.4%. On to UK/Europe: Link to comment Share on other sites More sharing options...
aussiebear Posted June 21, 2010 Author Report Share Posted June 21, 2010 Yuan Climbs Most in 20 Months as China Signals End to Peg The yuan climbed the most in 20 months against the dollar and forwards jumped after China’s central bank relaxed a two-year peg before a Group of 20 summit this week. The currency advanced 0.36 percent to 6.802 per dollar as of 1:45 p.m. in Hong Kong, the biggest gain since Oct. 7, 2008, according to the China Foreign Exchange Trading System. The 12- month non-deliverable yuan forward rose 1.4 percent to 6.6209, implying traders are betting on a 2.7 percent appreciation. Link to comment Share on other sites More sharing options...
aussiebear Posted June 21, 2010 Author Report Share Posted June 21, 2010 China Turns Tables on AAA Time-Bomb Nations: Commentary by William Pesek Your move, folks. That’s the message from China’s surprise move to allow a more flexible yuan. China, in signaling it’s okay with a rising currency, voiced a strong vote of confidence in its economic outlook. It also shifted the onus to the developed world in a crafty and unambiguous way. That will require some adjustments for the outside world. A stronger yuan is reflationary. Chinese will, over time, be able to buy more goods from other countries. Increased import activity coincides with a sudden militancy among Chinese workers demanding higher wages. While good developments in the long run, both phenomena will affect global inflation rates and require considerable nimbleness on the part of multinational companies. The infinite sea of cheap, docile Chinese labor is evaporating. Link to comment Share on other sites More sharing options...
shorty Posted June 21, 2010 Report Share Posted June 21, 2010 Any pure plays for riding the coastal economies into full-fledged decade-long Depression? Fishing industry - destroyed Tourism industry - destroyed Energy industry - morantorium Ream Estate - no offers What are best stocks to short? Link to comment Share on other sites More sharing options...
Jetlag Posted June 21, 2010 Report Share Posted June 21, 2010 Yuan Climbs Most in 20 Months as China Signals End to Peg The yuan climbed the most in 20 months against the dollar and forwards jumped after China’s central bank relaxed a two-year peg before a Group of 20 summit this week. The currency advanced 0.36 percent to 6.802 per dollar as of 1:45 p.m. in Hong Kong, the biggest gain since Oct. 7, 2008, according to the China Foreign Exchange Trading System. The 12- month non-deliverable yuan forward rose 1.4 percent to 6.6209, implying traders are betting on a 2.7 percent appreciation. Them Chinese have a sense of humor Now seriously loosening up the Yuan is a big move, but it won't be the panacea that politicians have been advertising. Many multinationals will suffer more from "less cheap" imports than gain with exports to China. For example should Wal[of China]mart go up on the news or down? Even most multinationals that sell in China don't actually export to China but produce locally. Local resources will become more expensive (or less inexpensive), of course every basic resource they import should become cheaper (although commodities have risen much more than 0.36 percent today just on the anticipation). In the macro view they start exporting inflation, or is it less deflation? And that's good if the world economy is suffering from deflationary pressures. Still the "thermodynamics" between "debt deflation" and "finished good inflation" maybe aren't as simple as that. Link to comment Share on other sites More sharing options...
Jetlag Posted June 21, 2010 Report Share Posted June 21, 2010 China Turns Tables on AAA Time-Bomb Nations: Commentary by William Pesek Your move, folks. That’s the message from China’s surprise move to allow a more flexible yuan. China, in signaling it’s okay with a rising currency, voiced a strong vote of confidence in its economic outlook. It also shifted the onus to the developed world in a crafty and unambiguous way. That will require some adjustments for the outside world. A stronger yuan is reflationary. Chinese will, over time, be able to buy more goods from other countries. Increased import activity coincides with a sudden militancy among Chinese workers demanding higher wages. While good developments in the long run, both phenomena will affect global inflation rates and require considerable nimbleness on the part of multinational companies. The infinite sea of cheap, docile Chinese labor is evaporating. "It was the administration of Bill Clinton that decided to remove Depression-era banking-system safeguards and fight efforts to regulate derivatives. It was President George W. Bush who removed every financial regulation in view, squandered a budget surplus through tax cuts for the ultra-rich and put a pointless war in Iraq on a credit card. Look in Mirror China didn’t tell Americans to buy homes they couldn’t afford. It didn’t encourage bankers to take on enough leverage to topple Wall Street’s mightiest names. It didn’t ask the U.S to flood global markets with Treasuries because it wanted to own a mountain of them. China didn’t lobby against reforms that might protect the U.S. from another financial crisis. That will be on President Barack Obama. Now, U.S. lawmakers who thought China provided the perfect scapegoat for all that ails their supporters need a new boogeyman. Or, they could just look into the mirror and opt to move the U.S. onto a more sustainable economic course. " Wow, that guy puts the finger in the wound He only forgot to mention Greenspan's role in all this, and at least a footnote for China's insatiable hunger for Treasuries (pressuring long term rates further down to enforce the yuan/dollar peg along with controls on capital transactions) that helped the indebtedness binge. Link to comment Share on other sites More sharing options...
Jorma Posted June 21, 2010 Report Share Posted June 21, 2010 "Buy death" was either machinehead or LeeWhee. No, that would have been me. There is a too long backstory but it's a quote, I heard it said in what amounted to a futures bucket shop in Chicago on the day Sadat was assassinated. Link to comment Share on other sites More sharing options...
K Wave Rider Posted June 21, 2010 Report Share Posted June 21, 2010 Today looks like huge infarction point... If bears cant completely reverse this opening pop, could be long summer starting on the Solstice.... If they do somehow reverse it....LOB Link to comment Share on other sites More sharing options...
POTUS Posted June 21, 2010 Report Share Posted June 21, 2010 Note to all Congress Critters- RE: The Yuan "Be careful what you wish for, you may receive it." Link to comment Share on other sites More sharing options...
DrStool Posted June 21, 2010 Report Share Posted June 21, 2010 No, that would have been me. There is a too long backstory but it's a quote, I heard it said in what amounted to a futures bucket shop in Chicago on the day Sadat was assassinated. Yes, I corrected my mistake last night on the earlier thread when I found your post. It was a great quote. Link to comment Share on other sites More sharing options...
DrStool Posted June 21, 2010 Report Share Posted June 21, 2010 The board search function did a good job, all the way back to 2002. I actually have earlier archives in different databases dating to around Feb of 2001, but not easily convertible to something accessible. Still it's good to have something going back this far. Link to comment Share on other sites More sharing options...
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