Monday, December 19, 2016

The Golden Age of Globalization Going Out of Business

Shorts covered ahead of the BOJ tonight (Tuesday, Tokyo), the last major Central Bank meeting of the year...

To recap today:

NYSE trading glitch
Overnight China bond market crash
Malaysian Ringgit at 1998 lows
Russian Ambassador killed in Turkey
Terrorist attack in Berlin
European bank selloff
USDJPY rollover
U.S. stock inflows highest since September 2008

And accelerating outflows from China...

Which means quantitative tightening:

China’s capital outflows are accelerating and the central bank is selling larger amounts of foreign exchange

onshore sentiment has been deteriorating quickly and capital is leaving the nation quickly

USDJPY carry trade is rolling over ahead of the BOJ tonight

The world's most systemically risky bank is rolling over again...

EM stocks weak again today

U.S. liquidity is tracking Emerging Markets

Which portends badly for the Golden Age of Corruption rally...

Price / volume:

"Dow 20,000"