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aussiebear

World Stock Markets Trading Discussion - Grudging gains

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If Trump doesn't end this stupid shutdown it is going to wildly distort the Treasuries cash balance, to the upside, unless they  curtail borrowing.  Not to mention lower economic statistics to the downside.  Tens or hundreds of billions sitting in the Treasuries account don't do squat for the economy. I doubt even Trump is  enough of a megalomaniac  to allow that but one never knows.  Irrelevant to the markets for the time being in any quantitative way but the failure of governance is weighing on 'confidence'.

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No material change in cash balance yet.  I don't think that the reduction in Federal spending will have a material economic impact unless social security payments don't go out.  It's not the change in the cash balance, but the lack of spending that would have the impact. The cash balance is just the corrolary reflection of the lack of spending.  It should start to show up in a big way around the third week of the month.  

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All Ords 5-day chart

big.chart?nosettings=1&symb=AU:XAO&uf=0&

http://bigcharts.mar...com/default.asp

 

All Ords coughed up a furball, closing -1.5% for the day.  All sectors were down led by Energy -2.6%, Telecomms -2.5% and Consumer Discretionary/Financials -2%.

Blood in the street in Asia: China -1.2%, Hong Kong -2.8%, India currently -1.3%.

Off the cliff in UK/Europe: FTSE -1.7%, DAX -1.6%, CAC -2.6%.

 

big.chart?nosettings=1&symb=UK%3AUKX&uf=

  

  

big.chart?nosettings=1&symb=DX%3ADAX&uf=

 

 

big.chart?nosettings=1&symb=FR%3APX1&uf=

  http://bigcharts.mar...com/default.asp

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And as the early risers on the East Coast awaken, they are covering their ES shorts, driving it from down 50 to down 35. 

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Now down 29. This has been the typical pattern overnight. Foreign selling early. Then Europe starts covering as US traders begin to come online. 

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