Saturday, 21 July 2018

Anthony Peters, market strategist at Sol Capital Group' s stories

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  • Anthony Peters columnist format

    Miffed about MiFID

    Ticker | 31 October 2017

    Today I write my last column under the Sol Capital banner.

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    Back once again for the renegade master

    Ticker | 10 October 2017

    I’m back, and by far the most seismic of events to take place while I was away was the staggering defeat that Mutti Merkel suffered in the Bundestag elections. 

  • Anthonyparis

    Germany's biggest problem? Not immigrants, but other Europeans

    Ticker | 21 September 2017

    This weekend Germany goes to the polls and every self-respecting commentator is on the case. How will the German voters deal with the thorny immigration situation?

  • Oi! Vienna!

    People & Markets | 15 September 2017

    LAST SATURDAY I received an email from Russell Taylor, the writer behind the Daily Telegraph’s highly successful and much-loved “Alex” cartoon. It read: “I don’t know if you check your email from holiday. I was wondering if you could help me with a German translation. The German language book of Alex is subtitled ‘Banker, Boni, Boersenwahn’. What does that mean?”

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    Looking beyond the day-to-day trading patterns

    Ticker | 01 September 2017

    Looking at day-to-day trading patterns and trying to draw meaningful conclusions is, by and large, a mug’s game. Worse still is to draw conclusions from trading on the last day of the month – especially August. Month-end rallies driven by index buying are nothing extraordinary, after all. Still, a new all-time high for the Nasdaq cannot go entirely unnoticed, especially not at the end of such a volatile month. The S&P 500, in passing, also did well and closed within just 9 pts of its own top, while

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    Never mind the price; feel the quality!

    Ticker | 31 August 2017

    Suddenly the end of the world as we know it has been put back in the cupboard and the sea of red has turned green again. Not that US indices had been in quite the mess which their European counterparts had found themselves in. In fact the Dow had its third day in a row of gains and the S&P has put on a four day run, closing 2,257.59, just 23 pts or 1% below its all-time high of August 7.

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    So much for a soft euro policy

    Ticker | 30 August 2017

    Best we don’t deceive ourselves. We are still in the silly season, albeit its dog-end. The Dow rebounded on what was the second lowest volume day since July 18 but in Europe there was something very different afoot where the Dax traded over 100m shares, up from a mere 35m on Monday and only the third time since July 21 that turnover has gone into nine digits. On that heavy volume the Dax fell 177.59 pts or 1.46%. At the same time the Bund future rallied just under a half a point, equally on massive vol

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    In politics, brinkmanship is an Olympic sport

    Ticker | 29 August 2017

    Question: Is North Korea really a threat or has Kim Jong Un just perfected a way of pushing all the right buttons at the right time? Is he the school yard bully who threatened other kids by boasting that he reads Boxing Weekly?

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    The need for CDS and honesty in bond messaging

    Ticker | 24 August 2017

    I am worried this morning. I am worried by an article in the pink’un titled “Investors pour back into crisis-era credit products”. The article highlights a rise in investor interest in bespoke tranches, a bundle of risks expressed through credit default swaps.

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    The art of speaking without saying anything

    Ticker | 23 August 2017

    Today ECB President Mario Draghi is slated to speak in Lindau, a particularly quiet and gentle resort on Lake Constance, at the Meeting on Economic Sciences. The conference prides itself for attracting 17 Nobel laureates and 350 young economists from 66 countries who are expected to hang on their every word. Those who remember the failure of Long Term Capital Management with its bevy of Nobel Prize winners might wonder how economics can still call itself a science rather an a dark art - but this is all

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    September will bring debt ceiling debates and blockchain bonds

    Ticker | 22 August 2017

    Is this just the “silly season” or is there possibly some truth in the headline “Betting odds on Trump’s resignation are improving day by day”. Not wishing to sound churlish but I really did have to read the article in order to find out whether the odds were “improving” on him leaving or staying, although I was not entirely surprised to read that the price on his throwing in the towel is apparently shortening.

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    What won't be discussed at Jackson Hole

    Ticker | 21 August 2017

    Bannon gone and Icahn gone. Two more big names depart the White House team and whether what is left constitutes a team is questionable. That said, Steve Mnuchin and Gary Cohn both now look well entrenched and the sense has to be that John Kelly is beginning to work some magic straightening out the meandering appearance of life in and around the Oval Office.

  • Peters on Dimon, Cohn, markets and … clouds

    Ticker | 18 August 2017

    There’s nothing new in the observation that a week is a long time in politics and a day a long time in markets.

  • When doves cry

    Ticker | 17 August 2017

    It’s mid-August and far too early to say that the summer is over – the really, really deep holiday season is only just kicking off – but that does not detract from the ongoing conversations among market players from both sides of the divide about what direction asset prices might take through the autumn and towards the end of the year.

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    Driven to distraction

    Ticker | 16 August 2017

    Instead of focusing on rebuilding the industrial economy and upgrading its creaking infrastructure, America is ripping itself apart. 

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    Another bad week

    Ticker | 15 August 2017

    This is not turning out to be a good week for President Donald Trump, not unlike many of the ones that have passed since he was inaugurated in January. 

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    Under starter’s orders

    Ticker | 14 August 2017

    As the athletics world championships closed in London with Usain Bolt having run his last race, Mutti Merkel launched her own race with the formal opening in Dortmund of her party’s campaign in the run-up to the Bundestag elections on September 24. 

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    Be careful what you wish for

    Ticker | 11 August 2017

    Over the past few days there has been an increasing number of publications and comments adding up how many days it has been since the S&P 500 last moved more than 1% in a single trading session. And then yesterday, bang! 

  • Anthony Peters columnist format

    Regulation overload

    Ticker | 10 August 2017

    Having yesterday taken a little stab at MiFID II, in my view one of the most ridiculous pieces of self-congratulatory but also destructive over-legislation since the 1919 Treaty of Versailles, I received a response from an old chum. 

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    Do we really need to be worried?

    Ticker | 09 August 2017

    Kim Jong-un is behaving like a textbook schoolyard bully and as we all know, reasoning with bullies never gets anybody anywhere.

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    It’s a funny old world

    Ticker | 08 August 2017

    Having yesterday flagged up the impending 10th anniversary of the starting gun going off on the global financial crisis I subsequently tripped over a vignette in the International Financing Review reporting that junk sub-prime auto ABS spreads are at record lows. 

  • Anthony Peters columnist format

    Happy anniversary

    Ticker | 07 August 2017

    This is a very important week, not because of the stunningly strong US labour report on Friday, or because the dollar has begun to fight back a little, or because WTI has dropped back below US$50 again. 

  • Anthony Peters columnist format

    Sympathy for the Devil

    Ticker | 04 August 2017

    I’ve never been much of a Mark Carney fan but one cannot help but feel sympathy for the guy. 

  • Anthony Peters columnist format

    Rather a lot of money

    Ticker | 03 August 2017

    It might be the silly season but some things are more silly than others. The Pink’un’s headline this morning, as the earnings season draws to a close, is that “FTSE 100 chiefs hit with £1m pay cuts after outcry”.

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    DC comics

    Ticker | 01 August 2017

    Today is August 1, the Swiss national holiday. Need I say more? I will, in any case.

  • Anthony Peters columnist format

    Crowded house

    Ticker | 31 July 2017

    If there is a crowded trade out there, then it has to be short the US dollar. But before going any further, let’s remind ourselves that there are two parts to every currency pair and that the exchange rate reflects the relative value of the two currencies to each other. 

  • Anthony Peters with border

    Lurking in the shadows

    People & Markets | 28 July 2017

    AN EVER-INCREASING number of corporate borrowers that no longer meet banks’ arduous conditions for lending are turning to the hungry high-yield bond market for funding. This is not a good thing.

  • Anthony Peters columnist format

    All aboard the roller-coaster

    Ticker | 28 July 2017

    I was not even going to mention that the Dow, 21,796.33 points made another all-time high on Thursday, had it not been for the fact that as it went up, the S&P went down. 

  • Anthony Peters columnist format

    Moving on up

    Ticker | 27 July 2017

    If it had been up to me, I would not have taken quite as much heart from the supposed dovishness of the FOMC’s post-meeting statement but others in the markets were less concerned and off they went, once again, to the races. 

  • Anthony Peters columnist format

    The only game in town

    Ticker | 26 July 2017

    FOMC rate decision today. It might be slated as the most important event of the day or even the week but, let’s face it, nothing unpredictable or shocking is going to come out of it.

  • Anthony Peters columnist format

    Growing pains

    Ticker | 25 July 2017

    The IMF has once again set the cat among the pigeons by giving a general thumbs up to global growth. 

  • Anthony Peters columnist format

    Let's talk about the euro, baby

    Ticker | 24 July 2017

    Two years ago the euro was trading at just under US$1.35. Six months later, in March 2015 it hit US$1.05 as America could do no wrong and Europe – Germany aside – could do no right.

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    Nothing really matters

    Ticker | 21 July 2017

    Other than the byline-free writers of The Economist nobody seems to get away with reminding readers that “I told you so” although today I feel I have the right to. 

  • Anthony Peters columnist format

    The only game in town: Guessing future policy

    Ticker | 20 July 2017

    Across Europe this morning market players will be chewing their fingernails in anticipation of what the ECB president Mario Draghi the patron saint of risk asset buyers, will have to say in his post-ECB Governing Council meeting press briefing. 

  • Anthony Peters columnist format

    All that glitters

    Ticker | 19 July 2017

    Let’s take a look at the mighty house of Goldman Sachs, whose Q2 results have been blamed for the decline in the Dow yesterday.

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    The basket case of inflation

    Ticker | 18 July 2017

    Tuesday is pretty quiet on the data front although the UK faced the usual monthly raft of inflation data. 

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    None the wiser

    Ticker | 13 July 2017

    One of the greatest of all one-liners said to have been delivered by a central banker is often attributed to who else but former Fed Chairman Alan Greenspan, the master of opaque ambiguity. 

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    A difficult period to read

    Ticker | 12 July 2017

    Donald Trump Jr. was told that he was about to be introduced to a source of information that would bring down his father’s rival for the presidency but he never told the old man? 

  • Anthony Peters columnist format

    We need to talk about Brexit

    Ticker | 11 July 2017

    For the best part of 2017 this column has been pretty much a Brexit-free zone. 

  • Anthony Peters columnist format

    What a complete waste of time

    Ticker | 10 July 2017

    There’s no beating around the bush – the Hamburg G20 meeting was an abject failure and a significant waste of time. 

  • Anthony Peters columnist format

    Gee whizz

    Ticker | 07 July 2017

    If I were President Xi Jinping, I’d be confused. 

  • Anthony Peters columnist format


    Ticker | 06 July 2017

    There were certainly more fireworks on display across America on Tuesday that there were on Wall Street on Wednesday where both stock and bond markets crept back into action in a day of flat and uninspired price action and volumes. Not even the release of the minutes of the June FOMC meeting could change that. 

  • Anthony Peters columnist format

    A creaking ship

    Ticker | 05 July 2017

    While the US spent yesterday celebrating its unity by devouring herds of minced cattle in a bun and with firework displays which must have cost the GDP of a small African state, Europe gave a prize demonstration of how its own much heralded union is creaking all over. 

  • Anthony Peters columnist format

    Stopping the rot

    Ticker | 04 July 2017

    Trying to phone anybody in New York on Monday proved to be an exercise in futility as all but the lowliest jubs who had been sent to switch the lights on and off again had taken the day off. 

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    Europe in the spotlight

    Ticker | 03 July 2017

    The first day of a shiny new half year and one which begins with our transatlantic cousins, in as much as they show up at work at all, headed home at lunchtime ahead of tomorrow’s July 4 holiday. 

  • Anthony Peters columnist format

    Misery guts

    Ticker | 30 June 2017

    Markets had a thoroughly miserable session Thursday with losses being taken across the board on equities as well as in credit spreads and even underlying bond markets. 

  • Anthony Peters columnist format

    Why did Europe get it so horribly wrong?

    Ticker | 29 June 2017

    China’s President Xi Jinping flew in to Hong Kong today to spearhead the 20th anniversary celebrations of the handover of the territory from British control. 

  • Anthony Peters columnist format

    Fine and dandy

    Ticker | 28 June 2017

    Whatever word is German or, if it existed, European for “taper tantrum”, we got it yesterday with 10-year Bund yields rising by over 50% to 0.37% from 0.24% and on the back of unexpected comments by nobody less than St Mario himself. 

  • Anthony Peters columnist format

    Nothing to see here

    Ticker | 27 June 2017

    As a Portugal-based business, we at Sol Capital are happy to see the great and the good of the central banking community descending on the former royal residential city of Sintra, just west of Lisbon, to attend the ECB forum and to declare that all is well in the garden and that nobody has anything to fear. 

  • Anthony Peters columnist format

    Going, going, gone!

    Ticker | 26 June 2017

    Since the intervention by the Spanish authorities in the Banca Popular situation and its being subsumed by Banco Santander along with the wiping out of shareholders and subordinated bondholders it has looked to be only a matter of time until the Italian powers that be would step forward to lance the boil that have been Veneto Banca and Banca Popolare di Vicenza. 

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