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mercoledì 12 agosto 2015

Durden: Altra svalutazione dello Yuan nottetempo. Carry Traders nella merda?


Seconda svalutazione "una tantum" dello Yuan stanotte. Si parla di colossali carry trade presi in mezzo e costretti ad essere smobilitati in gran carriera. 

Intanto gli effetti si vedono in girto per il mondo FX (e preziosi)
 


Dai Tylers
 
(...) In Asia, and local emerging markets, however, it was a different FX story eniterly. To wit:
  • HONG KONG DOLLAR DROPS 0.1%, SET FOR BIGGEST FALL SINCE MARCH
  • AUD/USD SLIDES 1.2% TO 0.7216, LOWEST SINCE APRIL 2009
  • INDIAN RUPEE DROPS TO LOWEST LEVEL SINCE SEPT. 2013
  • RINGGIT WEAKENS BEYOND 4/USD FOR FIRST TIME SINCE 1998
A more detailed look courtesy of Bloomberg:
  • Onshore and offshore yuan lead declines among Asian currencies after China weakens yuan fixing by more than 1% for second successive day; sovereign bonds rise in Australia, while interest-rate swaps climb in Malaysia.
  • Aussie falls against dollar; Australia’s second-quarter private-sector wage growth was lowest on record
  • Won touches weakest level since Oct. 2011; South Korea’s jobless rate fell to 3.7% in July from 3.9% prior month; nation is closely monitoring foreign-exchange market as China’s yuan devaluation, along with Fed’s possible rate increase, is raising volatility in financial markets: Finance Minister Choi
  • Rupiah touches weakest level since 1998; Bank Indonesia sees rupiah’s recent declines as excessive, causing currency to trade far below fundamental value, Governor Martowardojo says; central bank will remain in market to stabilize rupiah, bonds, sees second-quarter current-account deficit at 2.3% of GDP; nation announced changes to President Widodo’s cabinet; government to guard economic fundamentals in responding to market losses, Finance Minister Brodjonegoro says
  • Rupee drops; India’s industrial production probably advanced 3.5% in June from year earlier after increasing 2.7% in May: Bloomberg survey; consumer prices may have risen 4.4% in July following 5.4% increase in June: separate survey; both sets of data due today
  • Peso declines; Philippines has sufficient liquidity, remittances to buoy peso amid yuan drop, central bank Deputy Governor Guinigundo says
  • Dong slumps; Vietnam widens dong’s trading band to plus/minus 2%
But perhaps the best way to visualize what is going on in China relative to the USD is with a simple heatmap:



commento su ZHIt's as if millions of carry traders screamed out in terror...and were suddenly silenced.

E pare che la PBoC stia intervenendo in questo momento per mantenere la svalutazione ...

1 commento:

  1. Della serie, vi avevo detto che bisogna investire con il lancio dei dadi! :-)

    RispondiElimina