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Asia all red: NIKK and Taiwan Index - 2,5% Reason Oil slipping
btc @ 18.5k
British Pound on a historic low this morning: 1 Pound equals 1.02 CHF - near pari
Numbers: IFO 10h
Speeches: ECB diverse speeches in the morning and then
more important ECB Lagarde 15:00
DAX 7:30 pre cash @ the 12.2k line - lower than Friday
Outlook: DAX shows a down trend in the 4h chart until midnight a change might occur. Means the 12.2k line will just short being visited in cash hour (IB?) to turn then down
A next goal sits @ 11895 (Fib 161%)
The IFO numbers plus the outlook came today (10:00) with very bad numbers.
Now some "experts" from Germany finally see a upcoming Recession in their country for this winter.
Aha!
Those easy to read development was clear since a long time. The spiral down is real and can not be slowed down by some hefty up-clicks of the interest rate by the ECB. For this it is too late now.
All said: the direction of the DAX et al is now confirmed.
Interesting is the following screen shot, which on closer inspection confirms exactly what @GFIs1 described above (Those easy to read development was clear since a long time)
I saw the sudden change of direction in currencies first, and then in the indices as well. Then I looked at the bonds and also there the exact same. I then wondered what happened and could not find anything specific at first.
Finally, the following explanation with all the charts from Bloomberg:
Bonds, Stocks, Bitcoin, & Bullion Soar After Brits 'Save The World'
The Bank of England's desperate bailout of its pension funds - by pivoting back to QE (only temporarily of course) - sparked chaotic buying across global markets. Bonds were the most dramatic movers, but FX swings were sizable, and stocks, gold, crypto, and oil all ripped on the renewed easing efforts.
First the scene of the crime... UK 30Y Gilt yields collapsed (-106bps) after BoE intervention...
Source: Bloomberg
US Treasury yields followed suit with the belly of the curve plunging over 25bps, erasing all the week's yield increase...
Source: Bloomberg
European stocks spiked on the news, then faded, then rallied into their cash close to end slightly green (FTSE-250 was unchanged after being down 3% early in the session)...