The Traderszone Network

Standard Chartered Chief Executive Peter Sands, credited for years with leading perhaps the world’s most successful bank, now is in danger of becoming the latest big-bank CEO to lose his job following a series of high-profile stumbles, reports The Wall Street Journal.
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We warned recently that the most highly correlated commodity to economic data was flashing red, but today we note that Lumber and Homebuilders are diverging in a dreadfully deja-vu-ic manner (just as they did in 2005, marking the top). While the relationship is ‘loose’ it seldom diverges for long…

So what are homebuilders making homes out of now?

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Chinese stocks are trading lower again (on margin crackdowns) – the first 3-day drop in 3 weeks – back into the red year-to-date. Despite weakening the fix this evening, the ‘market price’ for USDCNY is trading at a record 1.93% discount to the official rate – inching ever closer to the 2% peg limit. At 6.2522, the market is just 40 pips away from forcing policy makes to intervene (selling the USD and and buying Yuan) – which realistically is perhaps a positive for the Chinese to unload some USD reserves.

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Among the companies whose shares are expected to see active trade in Thursday’s session are Google, Ford, Alibaba, and Amazon.com.
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Submitted by Stephen Roach via Project Syndicate,

Predictably, the European Central Bank has joined the world’s other major monetary authorities in the greatest experiment in the history of central banking. By now, the pattern is all too familiar. First, central banks take the conventional policy rate down to the dreaded “zero bound.” Facing continued economic weakness, but having run out of conventional tools, they then embrace the unconventional approach of quantitative easing (QE).

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McDonald’s said Steve Easterbrook will replace Don Thompson as its chief executive effective in March. The move comes as the world’s biggest burger chain struggles with slumping sales.

Asia markets dipped after U.S. stocks sold off and traders eyed better-than-expected quarterly earnings from South Korea-based electronics giant Samsung.