Yuan right at the short-term trend and the 50-day average.
AUD also continuing the massive move from yesterday. Note the 100 day slightly higher.
The theme of crowded trades blowing up continues, note the extreme net short positioning in the AUD.
Asian charts all looking very much alike, but according to me the most important from a sentiment point of view is Tencent. Massive move from recent lows. Approx. 20% up but not many talk about it. Still inside the negative trend and 50 day a bit higher.
08:32:04 Oil vs 10-year inflation breakeven chart. (long-term there is pretty much zero correlation but this looks to move in tandem for now)
08:45:06 Nothing new really, but people loaded up on Puts at lows. CBOE put call ratio was 0.8 a few days ago and the ratio has now “crashed” to 0.5.
09:42:51 SPX term structure – what a move in 1 week. Curve is back to “normal”. Let´s see how long that holds. Orange today, green 1 week ago.
Tencent +20% from recent lows. Since the selloff started in early October, Tencent has actually outperformed Apple by 2%.
QQQ, Spy, Apple, FXI, EEM on a 1 mth chart.
China – FXI turned right on that 100 day.
So many things reversing off the short-term moving averages. Look at autos, SXAP, as one example.
16:41:48 *ECB CONSIDERS FRESH TLTRO: MNI