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Market Volatility Continues: Asian Stocks Surging
Posted on 8/6/24 at 7:39 am
Posted on 8/6/24 at 7:39 am
From Daily Telegraph…
Asian stock markets bounced back from the brutal sell-off of the last two trading days as plunging bond yields ramp up pressure for interest rate cuts.
Tokyo’s benchmark Nikkei 225 index led gains as it jumped 10.2pc, or 3,217.04 points, to end at 34,675.46, a day after plunging 12.4pc in its worst rout since Black Monday in 1987.
Japan’s broader Topix index added 9.3pc, or 207.06 points, to 2,434.21, with gains for nearly all Asian markets, the FTSE 100 and other European markets.
Matt Simpson, senior market analyst at City Index, said: “We’re not yet sure if this is just a breather between water-boardings or there is more pain to follow.”
It comes after a rally in the $27 trillion US Treasury bond market on Monday raised pressure on the US Federal Reserve to begin cutting interest rates.
Yields on 10-year Treasury notes were back at 3.84pc, having been as low as 3.67pc at one stage.
Asian stock markets bounced back from the brutal sell-off of the last two trading days as plunging bond yields ramp up pressure for interest rate cuts.
Tokyo’s benchmark Nikkei 225 index led gains as it jumped 10.2pc, or 3,217.04 points, to end at 34,675.46, a day after plunging 12.4pc in its worst rout since Black Monday in 1987.
Japan’s broader Topix index added 9.3pc, or 207.06 points, to 2,434.21, with gains for nearly all Asian markets, the FTSE 100 and other European markets.
Matt Simpson, senior market analyst at City Index, said: “We’re not yet sure if this is just a breather between water-boardings or there is more pain to follow.”
It comes after a rally in the $27 trillion US Treasury bond market on Monday raised pressure on the US Federal Reserve to begin cutting interest rates.
Yields on 10-year Treasury notes were back at 3.84pc, having been as low as 3.67pc at one stage.
4
Posted on 8/6/24 at 7:52 am to LuckyTiger
quote:nah, no more water boarding. Next is electrical shocks to the testicles followed by a long stretch of sleep deprivation.
Matt Simpson, senior market analyst at City Index, said: “We’re not yet sure if this is just a breather between water-boardings or there is more pain to follow.”
Posted on 8/6/24 at 7:55 am to I20goon
Posted on 8/6/24 at 7:55 am to LuckyTiger
I bet there’s at least a small dip following this.
People who were angry they missed the opportunity to get out before the pull back, see prices come back some, and decide to get out then.
Posted on 8/6/24 at 7:56 am to LuckyTiger
The US market will have a buyback. If you look up the biggest stock market days in US history youll notice that every time after a big sell off, there is a big buyback the next day or within a few days. I wouldnt be surprised to see 80% of the losses regained today.
Posted on 8/6/24 at 8:03 am to scottydoesntknow
Then what about the next month? Is there a second dip?
Posted on 8/6/24 at 8:09 am to Lige
quote:
Then what about the next month? Is there a second dip?
Im not that smart. I do know the economy is in very bad shape. People are drowning in credit card debt and getting close to those max balances where they cant spend money anymore. There will be a buyback. It may go up past where it was to start yesterday. Its a manipulated market and impossible to predict unless you are one of the elite few pulling the strings.
Posted on 8/6/24 at 8:34 am to LuckyTiger
These are totally normal market dynamics
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Posted on 8/6/24 at 8:51 am to scottydoesntknow
quote:basically a dead cat bounce.
The US market will have a buyback. If you look up the biggest stock market days in US history youll notice that every time after a big sell off, there is a big buyback the next day or within a few days. I wouldnt be surprised to see 80% of the losses regained today.
It's fools gold.... probably. Is a good 2nd chance to get out.
Or short.
Posted on 8/6/24 at 9:35 am to scottydoesntknow
quote:
Im not that smart. I do know the economy is in very bad shape. People are drowning in credit card debt and getting close to those max balances where they cant spend money anymore. There will be a buyback. It may go up past where it was to start yesterday. Its a manipulated market and impossible to predict unless you are one of the elite few pulling the strings.
Bingo.
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