12/09/18

Asian Stocks Suffer Longest Selloff In 16 Years; US, Europe Mixed



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Asian Stocks Suffer Longest Selloff In 16 Years; US, Europe Mixed
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Summary:

  • Asian stocks slumped for the 10th consecutive day, the longest losing streak since 2002.
  • European and US stocks reversed Asian losses, trading modestly in the green
  • Oil extended previous sessions gains post API's as Hurricane Florence approaches the Carolinas
  • CAD extends overnight gains NAFTA nears a perfect storm on dairy access
  • Dark clouds clearing for UK PM May as ERG downplays overthrow but presents an alternate Brexit deal
  • Looking ahead, highlights include, DoEs, Fed's Brainard & Bullard and supply from the US

The "alligator jaws" chart presented by Jeff Gundlach during his Double Line conference call on Tuesday, which showed the unprecedented divergence between the US stocks and the rest of the world...

... was on display overnight, when ....

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