Author: Chris Weston

Chris Weston
Chris Weston

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Recent and archived work by Chris Weston for The Bull:

The Daily Fix – A relief rally, but sentiment is still fragile

After painting a pretty dour overview of the world in yesterday’s write-up, it seems the combination of a world that is incredibly long of gold, JPY, CHF and bonds, married with Trump offering even the slightest belief of convergence with China, has resulted in swift part position-adjustment. The fact we are hearing China sticking to…

The Daily Fix – remain cautious, the worst is not behind us

One thing is becoming ever clearer; we are close to or have seen an end to the T.I.N.A (There is No Alternative) trade – The idea that bad geopolitical news, poor economic data, or some other macro news flow results in lower bond yields and a subsequent hunt for relatively higher-yielding assets, such as equities…

The Daily Fix – a make or break trading session ahead

After a three-day period of heightened volatility in financial markets, we saw a far more constructive tape through US trade, leaving market participants now asking if the volatility (vol) spike is over for now, or should we be looking to sell into the relief rally? From what we are seeing in the Asian markets today,…

The Daily Fix – China refrain from ‘weaponising’ the CNY

The uncertainty is palpable, with cross-asset volatility ramping up as traders and investors anticipate increased price moves and pay up for portfolio protection. The need for capital preservation and a return of their capital is in play while shorting equity indices is working well for traders, with many looking to take advantage of the sheer…

The Daily Fix – when a trade tensions morph to currency wars

It turned out to be an eventful and potentially even defining week that passed, and the world is now looking at risk through slightly less optimistic eyes. Certainly, we are seeing increasing outperformance from defensive assets, with rising implied volatility, with the VIX index-tracking into 17.6%. The S&P 500 looked heavy on Friday, with price…

The Daily Fix

The FOMC statement and Powell press conference took all of one hour, but in that short space of time, the market was thrown around by narrative that seemed unsure of exactly how to please its audience. We knew the rates market had a pre-set vision of an easing cycle, pricing in some 66bp of cuts…

The Daily Fix – Pre-positioning ahead of the biggest event of the year

It was the day before the biggest central bank meeting for years, and all is (fairly) well. Risk is a little lower, where we can see the Nikkei 225, Hang Seng and CSI 300 down 1.0%, 0.8% and 1% respectively. The ASX 200 is outperforming, with a 0.2% decline. Most have attributed this decline to…

The Daily Fix – It’s all about the close for the ASX 200

It’s tough to go past the moves in GBP, as the bid has completed come out of GBPUSD and GBP crosses, and sterling simply can’t find a friend. GBPUSD traded into 1.2212 in US trade, but Asia has kept the momentum going trading into 1.2163, with the bigger percentage moves seen in GBPNOK and GBPCHF….

The Daily Fix – Navigating a massive week of event risk

After the sheer amount of ink that has been spilt in the past few months, we get the answers to a number of macro debates this week. All the speculation around whether the Fed will cut by 25bp, 50bp, or, given the domestic data of late, not at all, comes to light. We get the…

The Daily Fix – Eyeing volatility into the 31 July FOMC meeting

We continue to have an eye on the S&P 500, with price holding above 3000, for now, and failing to react too negatively to a strong US retail sales report, which easily beat expectations. Notably, here, the retail ‘control group’ element (the goods that feed directly into the GDP calculation), increased 0.7% vs expectations of…