Main Markets Summary–16 June 2011–Greece (again)

European markets got hammered yesterday, the record drop going to Spain (-4.95%), but an average of –4.10% for the Eurozone. The market is clearly disappointed by the delaying tactics of the ECB, and the lingering disagreements between Germany and France.

Credit markets in general had a very good day, it’s the first time since the beginning of the sell of that we observe a “flight to safety”, with US treasuries up 1.8 %. Junk bonds are still having a hard time, being below the short term moving averages, but are not breaking down.

Best equity markets (further above 200 ma) : Ireland & Switzerland

Most oversold equity sectors : Solar, Shipping. With a PE of 12, the solar sector starts to look cheap, despite the oversupply that is expected until 2012.

US Indexes, Equity Sectors (US & Int.), Commodities Int. Equity Indexes, Real Estate, Bonds
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Main Markets Summary–7 June 2011 – Bernanke speech shakeout

Summary of the Bernanke speech : The economy is weak, the fed will continue to accommodate, inflation is temporary, no QE3. The confirmation of no QE3 is widely thought to be behind the market sell-off.

In a nutshell

US indexes and all sectors are now under the 50 days moving average except utilities & healthcare. Financials are still the weakest link. Wind & Solar sectors are showing a surprisingly strong performance. Food and industrial commodities registered moderate gains

Europe overall had a pretty good day, with Spain, Sweden as well as Poland and emerging Europe. In emerging Asia, Vietnam had a strong day – might finally be bottoming. Bonds have had a decent but not outstanding day.

Technical Ranks

Top 3: Gold, Poland, Colombia

Bottom 3 : Nickel, Livestock, Cocoa

 

US Indexes, Equity Sectors (US & Int.), Commodities Int. Equity Indexes, Real Estate, Bonds
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Permanent address for the market snapshot, updated daily around noon Singapore time

Main Markets Summary – 03 Jun 2011 – General Sell-off

All main equity markets are now below the short term moving averages. Eurozone is still getting some traction from the bailout, and is showing a good performance.

Tech is still sticking out for its broad underperformance : NASDAQ, the SP Technology and Internet companies are all showing among the worst short term returns.

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Main Markets Summary – Another Greek Bailout

The greek bailout staged a strong recovery day among most equity markets, the main beneficiary being the eurozone, a couple of emerging markets tagging along.

Details

Equities : A weak rebound in the US, however the fears of a short-term correction seems to be going away. A very impressive day in green energies (both Solar and wind)

There was a very strong day in the eurozone lead by the Greek Bailout with gains north of 3% for many countries. Most significant performers are Spain, France, Germany, Italy, UK & Poland.

The arab world is still having a hard time overall (below all MA), except Egypt that is showing strong short-term momentum since the revolt’s end. Turkey had a very good day too, perhaps staging an exit from a long streak of underperformance

Vietnam is closing the pack, showing the worst performance of all countries.

Bond Market : Not much to report, except maybe that junk bonds are overall still doing good (short and medium term momentum still positive).

Commodities : Mixed. Oil is still heading higher, starting to pull Nat Gas along. Cotton is edging up, trying to recover its former strength. It’s still the commodity with the strongest momentum (+134% TTM)

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