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Overview: News that Saudi Arabia was able to restore 40-50% of the oil capacity lost by the weekend strike, coupled with the Fed's efforts to offset the squeeze in the money markets, is allowing the global capital markets to trade quietly ahead of the conclusion of the FOMC meeting. Equities...
Macro News Global: To the exception of the oil move we saw this weekend following Saturday’s attack on the ‘world’s most important oil processing plant,’ which pushed front-month futures on Brent and WTI up by 20%, the other spectacular move was the consolidatio...
The Japanese yen (not to be confused with Chinese “yuan”) is a stable currency. The five-year chart below shows that the yen has traded within a fairly narrow band since 2017. Bloomberg The yen is an important global currency and is highly liquid. The Japanese economy is on...
Overview: Oil prices surged in the initial reaction to the unprecedented drone attack on Saudi Arabia facilities. Saudi Arabia may be able to restore around half of the lost production in a few days. Saudi Arabia and other countries, including the US, prepared to tap strategic reserves, and ...
By Jeffrey Halley Oil futures leapt this morning by over 15% in a knee-jerk reaction to the attack on the Saudi Arabia Abqaiq oil facility over the weekend that notionally, took 5% of the world's supply offline. Brent futures spiked by 20% and WTI futures by 15% despite U.S. President Trum...
The Japanese yen is a good barometer for risk appetite: the stronger the yen, the weaker risk appetite typically is. The yen is often used as a cheap funding currency to finance the purchase of risk assets such as U.S. equities. I have covered this relationship many times in multiple prior a...
The most striking thing about last week's price action was the surge in US yields. The 10-year yield jumped about 34 basis points, the most in three years and returned to levels not seen since August 2 (1.90%). A deluge of investment-grade corporate bonds and US Treasuries ($78 bln auctioned...
Overview: The markets are digesting ECB's actions and an easing in US-Chinese rhetoric. Next week features the FOMC meeting and three other major central banks (Japan, Switzerland, and Norway). The US equity rally that saw the S&P 500 edge closer to the record high set in late July spill...
Overview Global equities are extending their recent gains, while bonds remain on the defensive. The dollar is firm. There is a degree of optimism that is prevailing. There are some more overtures in terms of US-Chinese trade. In Hong Kong, developers and banks led an equity rally on ideas th...
Currencies Japanese Yen - The Japanese Yen’s decline triggered a momentum-based short sale under .9425. Commercial traders were once again heavy sellers in the Yen. Our short sale is protected with a buy stop at .9647. First support is around .9230. The bigger question is, “W...
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Citigroup Global Markets Holdings Inc ZC SP ETN REDEEM 15/12/2032 USD 25 - 17326E662 Company Name:
UJPY Stock Symbol:
NYSE Market:
Citigroup Global Markets Holdings Inc. (“CGMHI”) announced today that it will accelerate at its option, and in full, the ten series of exchange-traded notes listed in the table below (the “ETNs”). Holders of the ETNs will receive a cash payment per ETN in...