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  • Singapore announces a revaluation...

    In This Issue..

    * An Asian currency announces a revaluation...
    * Growth in the Asia-region benefits Australia...
    * Brazil to raise rates...
    * US trade deficit widens, pushing the dollar lower...

    Good day, it certainly was a good day here at EverBank yesterday. I will start today's Pfennig off with some good news which Chuck shared with the desk yesterday afternoon. The scans which he underwent last week came back clean, so the cancer is limited to the mass behind his eye, and hadn't spread to any other part of his body. This was just about as good as news as he could receive, and now he heads to the eye doctor to figure out a plan to deal with the mass. He wanted me to let everyone know how much he appreciates your emails of support....
  • High Yielders Rally...

    In This Issue..

    * Is it Game On for Carry Trades again?
    * A Trade-Free Zone for Southeast Asia!
    * 10-year yield rise will shut down the mortgage rally...
    * A min-rally for the euro this morning...

    Good day... And a Terrific Tuesday to you! I'm already draggin' the line today on the 2nd day back from vacation! UGH! The High Yielders are back to work this week, as the currencies of Australia, South Africa, and Brazil are attempting a come-back VS the dollar. This and more, as we head into the last Tuesday of 2009...

    Well... The last Monday of 2009, was uneventful with the currencies remaining in Tupperware ranges (tight that is!), and with little to show in the way of any measurable appreciation VS the dollar. There was no sign of the U.S. Corporations repatriating their profits yesterday as was rumored... Of course they still have today, tomorrow and Thursday to do so...

    ...
  • China Grows at +8.9%!

    In This Issue..

    * Currency rally is reversed overnight!
    * Pay Czar dreams...
    * Brazil may reverse capital inflow tax...
    * An Asian Union?

    Good day... And a Thunderin' Thursday to you! It's raining outside, so... It must be a Thursday! Amazing how many Thursdays have seen rain this fall! The ground isn't the only thing that's getting watered down this morning...

    Front and Center this morning, the euro traded well past 1.50 yesterday afternoon, and drug all the other non-dollar currencies higher as the day went on. But overnight, all that giddiness with seeing the euro over 1.50 for the first time since August of 2008 (and then it was on the way down, instead of this time on the way up!), has been watered down......