Business

Representing a major segment of EM stocks, TATS are the Asian 'FANGs', and they just suffered their worst week on record.

Taiwan Semi, Alibaba, Tencent, and Samsung are TATS and account for over 16% of the MSCI EM Stock index (considerably more than FANG stocks represent in the S&P).

TATS have traded lower for 4 of the last 5 days - tumbling almost 8% to one month lows...

Tencent is the biggest loser...

The biggest weekly drop in the history of the 4 stocks...

Overnight no BTFD in these names.

Authored by Jon Lesage via OilPrice.com,

Ride-hailing firms Uber and Lyft have become transportation platforms for automakers and tech giants to someday bring automated, electrified mobility to the mass market. It’s still years in the making, but both companies are gaining significant support during a year when it looked like Uber could be coming to an end.

'Mystery' solved... maybe.

Bloomberg is reporting that excess liquidity within Greek banks - who leant it to their credit-risky peers at notably high rates - are responsible for the sudden, scary spike in EONIA over the last two days, according to two bankers with knowledge of the matter.

Authored by Steven Vannelli via Knowledge Leaders Capital blog,

In a US Dollar bull market with interest rates at zero, cash is rightfully dismissed as a non-asset class. But, when the US Dollar is in a bear cycle, things change, irrespective of what US interest rates are.

There are a handful of indicators we use to identify US Dollar bull and bear cycles.

Remember Monday when stocks jumped and the yield curve steepened and every talking head and their pet rabbit said the bond market is about to explode... well the yield curve is now imploding again with 5s30s crashing almost 10bps to 64bps - the lowest since Oct 2007.

False start...

The trend is jnot The Fed's friend...

This morning Fed's Bullard warned that more rate-hikes could invert the yield curve (which has signal 7 of the last 7 recessions).