“You were holding a pair of eights, Dick. And you bet the farm on the river card.” -Hank Paulson to Dick Fuld

 

Banyan Global Macro

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(Source: BofAML) 



Overnight Happenings

In Japan, the Nikkei was flat and down -0.9% MoM.

China’s stock market continued down another –1.2% and is now down -25% YTD.

India’s stock drop -1.1% with the Rupee still failing.

In London, stocks opened up with the FTSE down -5% MoM.

The German DAX tried to bounce after dropping -3.3% last week and down -7.4% YTD.

Greece bounced higher by +2.5%; trying to regain some of the -5.7% decline last week

Crude Oil bounces +1.1% overnight after the commodity deflation last week; -2.9% respectively for oil.

Copper continued lower this morning, down -0.3% and to -22% YTD. China slowing.

Greek and Italian Bonds yields down this morning- which has their stock markets rallying.

US 10Y Yield unchanged this morning after the surprise wage growth number on Friday.

The Dollar down vs. Euro / Pound.


Banyan Capital Management, LLC : ETF Playbook 

 

-R.W.N II

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