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Futures Flat As FOMC Meeting Begins; Brent Jumps Over $65 For First Time Since 2015

Futures Flat As FOMC Meeting Begins; Brent Jumps Over $65 For First Time Since 2015

E-mini futures are modestly in the green this morning, though net of fair value the S&P index is poised for another record high open as the FOMC begins its last meeting for 2017 in which it is expected to raise rates by 25bps. European stocks gain while Asian equities slide led by weakness in Chinese airplane stocks.

US Futures Hit New All Time High Following Asian Shares Higher; European Stocks, Dollar Mixed

US Futures Hit New All Time High Following Asian Shares Higher; European Stocks, Dollar Mixed

U.S. equity index futures pointed to early gains and fresh record highs, following Asian markets higher, as European shares were mixed and oil was little changed, although it is unclear if anyone noticed with bitcoin stealing the spotlight, after futures of the cryptocurrency began trading on Cboe Global Markets.

After $150 Billion Buying Binge, 'Tokyo Whale' Seen Paring Back ETF Purchases In 2018

After $150 Billion Buying Binge, 'Tokyo Whale' Seen Paring Back ETF Purchases In 2018

A few months ago, we noted that the Bank of Japan had decided to throw every textbook out of the window and crank their plunge-protection to '11'after reports surfaced that they owned a staggering 75% of Japan's ETFs.

The BOJ first started their buying spree in December 2010 - when they held no ETFs at all - and have since accumulated some $150 billion in aggregate holdings.  The buying was all as part of unprecedented "economic stimulus" which has undoubtedly contributed to the Nikkei 225 Stock Average surging roughly 125% since December 2010.

China Commodity Carnage Continued Overnight As Brexit Fears & Bitcoin Cheers Dominate

China Commodity Carnage Continued Overnight As Brexit Fears & Bitcoin Cheers Dominate

Once again weakness in the US carried through to Asia with stocks unable to hold any National-Team-inspired gains, but it was the contagion to commodities that was most notable (as a hike in exchange fees snuffed out a lot of speculative fervor)

  • European equities have followed suit from their Asia-Pac counterparts to trade higher across the board
  • Markets await Brexit headlines amid Barnier deadline
  • Looking ahead, highlights include US weekly jobs and potential comments from ECB’s Draghi.

ASIA

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