We are constantly searching for signs that the Tsunami is beginning to ebb. When the wave subsides we will witness a violent recovery in assets that have been suppressed for no other reason save the desperate need for liquidity. The following is a list of developments that represent the proverbial 'light at the end of the tunnel':
Russia's MICEX exchange suspends stock trade limit-up from 1535 GMT - Reuters
During the repatriation craze most stories pertaining to emerging markets spoke of halts in trading due to limit-down conditions.
The U.S.$ has traded lower the last two sessions vs. the Euro
But, the U.S.$ has traded higher vs the Yen; a sure sign the carry trade unwind is slowing.
U.S. Treasury bonds have traded lower the last two sessions.
Gold traded higher by over $50 on Friday and is trading up another $25 as of this writing.
Silver as well as copper and oil, to name just a few commodities, are all trading significantly higher in the last 2 trading sessions
Monday, November 24, 2008
RCM Editorial: Redemption & Repatriation Tsunami Update
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