Aug 15, 2022 • 6M

China Concerns Cloud Retailer Week

Bad economic news from the world’s second-largest economy is leading to a sell-off in commodities…

Upgrade to listen
The daily podcast discusses the major market activity and economic data release schedule for the day ahead, with a contrarian bent. Also includes regular podcast episodes a day (or more) early and without ads or announcements.
Episode details
Comments

Good morning contrarians! It is Monday, August 15.

Some bad economic news out of China has weighed on risk sentiment overnight. The country’s central bank responded with a surprise rate cut. As of 0650:

  • The damage is felt mostly in commodities, which makes sense seeing how China is the world’s biggest importer of these things. WTI crude is down almost 5% to trade below $88/barrel. Copper is down 3%;

  • Stock futures in the U.S. are down a bit, with the S&P 500 pointing to a loss of 0.6% at the open. The Nasdaq is down a little less;

  • Cryptos are dropping, with bitcoin off 2% to trade around $24,000;

  • Bonds are flat, with the 2-year unchanged at 3.26% and the 10-year at 2.83%.

Listen to this episode with a 7-day free trial

Subscribe to

Contrarian Investor Premium
to listen to this episode and get 7 days of free access to the full post archives.