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Daily Close


It was just not meant to be ... After shedding as much as  -20 points at the lows during the overnight session, the s&p500 started to crowl back, reaching unchanged levels after the first hour in US trading. From then on, momentum built on itself, ending into a sheer buyers’ panic, propelled by fangs and ... no news at all.  Fang shares rallied 8% from their lows on Friday, accompanied by bitcoins which added 5% to their recent recovery despite BoE Governor Carney saying it is time to regulate them...like everything else sold or bought as investments by the general public. 

D. Trump will persist to introduce tariffs, the Fed still needs to tighten, growth looks like it may be peaking, inflation is bottoming for sure and US deficits are set to explode with reduced appetite from China, Japan and the Fed to absorb them. The global investment climate is still getting dicier and that is perhaps the reason why stocks still need the hand of God, when they feel like ... puking. Momentum players and hedgers scrambled over each other in a fury of short covering. 

We could leave the comment there and still cover the essence of what happened yesterday. Nothing else happened of substance in either bonds or the dollar. Perhaps one last mention about oil. The IEA informed OPEC that they should not be thinking about lifting production caps at the end of the year because shale oil will keep pumping more supply, meeting all the expected additional global demand. That was deemed to be bullish for oil which rallied 3%, contributing to jolt EM currencies, debt and equities yesterday, taking off some of their recent underperformance. Tomorrow is another day.

BentinPartner Advisers, Basel There is more to our research than the Daily Close, the Confidometer and our blog posts. To receive actionable content, a comprehensive wrap up every day and our tactical FX and global models positioning or if you wish to be notified 24/7 with updates on key macro economic releases and/or technical breaches on our comprehensive investment universe covering international equities, bonds, FX, precious metals and commodities, take a free trial to the Bentin Daily, our premium research service. We help you know when to run and when to sit by tracking all developing (or well established) trends and equally importantly by flagging market breakouts. You may join our free trial by clicking here. https://www.bentinpartners.ch/subscribe We are leaving no stone unturned. Important Disclaimer © Copyright by BentinPartner llc. This blog is not intended as a recommendation, an offer or solicitation for the purchase or sale of any security or underlying asset referenced herein or investment advice. Investors should seek financial advice regarding the suitability of any investment strategy based on their objectives, financial situation, investment horizon and particular needs. This blog does not include information tailored to any particular investor. It has been prepared without any regard to the specific investment objectives, financial situation or particular needs of any person who receives this report. Accordingly, the opinions discussed in this blog may not be suitable for all investors. You should not consider any of the content in this report as legal, tax or financial advice. The data and analysis contained herein are provided "as is" and without warranty of any kind. BentinPartner llc, its employees, or any third party shall not have any liability for any loss sustained by anyone who has relied on the information contained in any publication published by BentinPartner llc. The content and views expressed in this report represents the opinions of Marc Bentin and should not be construed as guarantee of performance with respect to any referenced sector. We remind you that past performance is not necessarily indicative of future results. Although BentinPartner llc believes the information and content included in this report have been obtained from sources considered reliable, no representation or warranty, express or implied, is provided in relation to the accuracy, completeness or reliability of such information. This blog is also not intended to be a complete statement or summary of the industries, markets or developments referred to in the blog.   


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