When it comes to the US manufacturing sector which as a result of the oil sector collapse recently entered a recession, for years it was the US auto industry which was presented as a shining example of how "things can go right" and how US manufacturing workers have benefited when year after year domestic auto production rose and recently hit a record high annualized production rate.
"The market is moving so quickly, yesterday felt just like the stock market in June last year before the crash," warns one Asian trader reflecting on the chaotic rush of Chinese speculators into the industrial metals commodities market Echoing the frenzy that fueled China's parabolic stock market rise (and subsequent collapse), Bloomberg notes one local China broker admits "we’ve seen a lot of people opening accounts for commodities futures recently," adding rather ominously, "the great ball of China money is moving away from bonds and
Submitted by Lance Roberts via RealInvestmentAdvice.com,
Earlier this week, I noted that due to the technical breakout of the market above the downtrend line from last May, an increase in exposure to equity risk was required. To wit:
“With the breakout of the market yesterday, and given that ‘short-term buy signals’ are in place I began adding exposure back into portfolios. This is probably the most difficult ‘buy’ I can ever remember making.
How we suspect a few USDJPY traders (who are the most net long JPY on record) feel this evening...
After JPY's biggest daily plunge against the USD since October 2014's cluster of Central Bank efforts...
While the IEA has been urgently pushing an agenda of the oil market "rebalancing" in coming months in order to validate rising oil prices, the reality is that there are two parts to the equation: demand and supply.