EMOTION MOVING MARKETS NOW: 12/100 EXTREME FEAR
PREVIOUS CLOSE: 5/100 EXTREME FEAR
ONE WEEK AGO: 11/100 EXTREME FEAR
ONE MONTH AGO: 17/100 EXTREME FEAR
ONE YEAR AGO: 33/100 FEAR
Put and Call Options: EXTREME FEAR During the last five trading days, volume in put options has lagged volume in call options by 14.54% as investors make bullish bets in their portfolios. However, this is still among the highest levels of put buying seen during the last two years, indicating extreme fear on the part of investors.
Market Volatility: EXTREME FEAR The CBOE Volatility Index (VIX) is at 26.10, 63.20% above its 50-day moving average and indicates that investors are concerned about the near-term values of their portfolios.
Stock Price Strength: EXTREME FEAR The number of stocks hitting 52-week lows is slightly greater than the number hitting highs and is at the lower end of its range, indicating extreme fear.
PIVOT POINTS
EURUSD | GBPUSD | USDJPY | USDCAD | AUDUSD | EURJPY | EURCHF | EURGBP| GBPJPY | NZDUSD | USDCHF | EURAUD | AUDJPY
S&P 500 (ES) | NASDAQ 100 (NQ) | DOW 30 (YM) | RUSSELL 2000 (TF) | Euro (6E) |Pound (6B)
EUROSTOXX 50 (FESX) | DAX 30 (FDAX) | BOBL (FGBM) | SCHATZ (FGBS) | BUND (FGBL)
MEME OF THE DAY – IT’S THE JERKS
UNUSUAL ACTIVITY
LVS SEP 40 PUT ACTIVITY on offer @$.80 4500+ Contracts
GPRO OCT 48 PUT ACTIVITY @$5.00 right by offer 1944 Contracts
HZNP SEP 30 CALLS block @$1.45 on offer 3900 Contracts
CBS OCT 47.5 CALL Activity @$1.20 on offer 3700+ Contracts
ABT SEP 44 CALL ACTIVITY ON THE OFFER @$1.05-1.06 5100+ Contracts
RYAM Director Purchase 5,000 @$6.9
TEP Director Purchase 9,000 @$44.5
ABUS Director Purchase 1,000 @$6.95
CVX Executive Vice President Purchase 2,000 @$ 73.529 Purchase 500 @$72.37
HEADLINES
PBOC Yao: Fed should delay hike, could push some EM into crisis –Rtrs
US GDP Annualized (QoQ) Q2 S: 3.70% (est 3.20%; prev 2.30%)
US GDP Price Index (QoQ) Q2 S: 2.10% (est 2.00%; prev 2.00%)
US Personal Consumption (QoQ) Q2 S: 3.10% (est 3.10%; prev 2.90%)
US Core PCE (QoQ) Q2 S: 1.80% (est 1.80%; prev 1.80%)
Fed George: Prepared for rate hike, despite selloff –CNBC
Fed George: Market strains warrant caution on rate hikes –Rtrs
Atlanta Fed Q3 GDPNow Forecast (27 Aug): +1.4% (prev +1.3%)
US Pending Home Sales (MoM) Jul: 0.50% (est -1.00%; rev prev -1780%)
US Pending Home Sales NSA (YoY) Jul: 7.20% (est 8.30%; prev 11.10%)
US Kansas City Fed Manufacturing Activity Aug: -9 (est -4, prev -7)
US EIA NatGas Storage Change Aug-21: 69 (est. 60, prev. 53)
US Initial Jobless Claims Aug-22: 271K (est 274K; prev 277K)
US Continuing Claims Aug-15: 2269K (est 2248K; rev prev 2256K)
Abbott lines up $25bn bid for St Jude –FT
GOVERNMENTS/CENTRAL BANKS
PBOC Yao Yudong: Fed should delay hike, could push some EM into crisis –Rtrs
Fed George: Prepared for rate hike, despite selloff –CNBC
Fed George: Market strains warrant caution on rate hikes –Rtrs
Atlanta Fed Q3 GDPNow Forecast (27 Aug): +1.4% (prev +1.3%)
Fed buys $6.6bn MBS in the week, sells none –Livesquawk
El-Erian: QE4 isn’t on the cards –BBG View
ECB Coeure: The euro is irreversible despite its faults –Rtrs
BoE publishes concerns over bond liquidity –FT
BoE Gov Carney’s rate rise comments prompted homebuying in July –CityAM
BoJ Kuroda: BoJ can still achieve inflation target –BBG
BoJ Kuroda: China slowdown unlikely to hit Japan exports much –Rtrs
ESM Regling: Threat of Grexit is still there –BI
Germany approves Greek bailout, Athens prepares to tighten belt –Dispatch Times
GEOPOLITICS
Chinese Navy conducting live-fire drills in East China Sea –Xinhua via BBG
Russia to assume UN Security Council chairmanship on 1 September –TASS
FIXED INCOME
Fed RRP draws $71.3bn, 34 bidders (prev $68.7bn, 31 bidders) –Livesquawk
OVERNIGHT: China said to sell Tsys as dollars needed to back yuan –BBG
China confirms it warned US it would sell Tsys at $50bn per month –ZH
BankRate: US mortgage rates fall amid wild up-and-down market swings
Analysts: Bund yield seen staying below 1% until March –BBG
Eonia closes at -0.127% (prev 0.129%) –Livesquawk
FX
USD: Dollar rises on solid growth, jobless claims numbers –WSJ
JPY: Yen weaker as dollar srtonger on US data –Rtrs
EUR: Euro as new haven moves opposite to stocks by most in decade –BBG
GBP: Pound gains vs euro as focus turns to cbank policy –BBG
GBP: Pound sees fortunes reverse this week –MW
COMMODITY FX: Commodity Currencies Rise Amid Risk Appetite –LSE
AUD: Westpac says Australian Dollar’s artificial support will fade –PSL
CNY OVERNIGHT: China said to sell Tsys as dollars needed to back yuan –BBG
ENERGY/COMMODITIES
CRUDE: WTI futures settle 10.25% higher at $42.56 per barrel –Livesquawk
CRUDE: Brent futures settle 10.25% higher at $47.56 per barrel –Livesquawk
CRUDE: Oil rebounds to trade back above $40 a barrel –MW
METALS: Gold prices fall on robust US GDP data –WSJ
METALS: Copper soars over 4% as base metals stage stunning recovery in London trade –BS
COMMODS: Commodities strike six-year lows, set to enter new cycle –F24
COMMODS COMMENT: TD: ‘Sell energy’ trade has it wrong on nat gas stocks –FP
EQUITIES
M&A: Abbott lines up $25bn bid for St Jude –FT
M&A: Abbott says it is not pursuing St. Jude –MW
COMMENT: Shiller: Rising Anxiety That Stocks Are Overpriced –NYT
EARNINGS: Dollar General earnings above expectations, sales miss –WSJ
EARNINGS: Tiffany Q2 Sales Down 2%, Earnings Fall 16% –Forbes
AUTOS: Tesla rallies after top rating from consumer reports –MW
INDUSTRIALS: Boeing hits 777X jet milestone, says program on schedule –Rtrs
FUNDS: Fidelity is considering dropping two giant partners –CNBC
CRA: Fitch Upgrades Best Buy’s IDR to ‘BBB-‘; Outlook Stable
TECH: Google says EU antitrust charges are unfounded –Rtrs
TECH: Apple fast closing in on wearable device maker Fitbit –IDC
TECH: Apple to debut new iPhone 9 Sept –FT
EMERGING MARKETS
China will struggle to meet fiscal revenue targets in 2015 –Xinhua via BBG
OVERNIGHT: PBOC said to have intervened in CNY swap market –WSJ
BAML: Sell into the rally, the Shanghai Composite is going to tank –BI
Ukraine NBU cuts rates by 3ppts to 27% –IFX
Ukraine agrees to 20% principal writedown with main creditors –BBG
