The Traderszone Network

The U.S. government and a group of global automakers are set to unveil a voluntary agreement at the Detroit auto show on Friday aimed at improving auto industry safety and spurring culture changes, according to company and government officials. The accord could set the framework for further discussions on safety reforms and mark a new era of cooperation between automakers and regulators after a record-setting year of safety fines, recalls and investigations into malfunctioning vehicles made by General Motors Co (GM.N), Fiat Chrysler Automobiles NV (FCAU.N), Honda Motor Co and others.

A junk bond fund run by billionaire Marc Lasry’s Avenue Capital Management, which has experienced heavy investment losses and investor withdrawals, has stopped voluntarily reporting daily asset figures to the mutual fund industry’s top two tracking firms. Research chiefs for Morningstar and Lipper said on Monday they had not received daily asset under management figures from the Avenue Credit Strategies Fund (ACSBX.O) since about mid-December.

read more

China set another firm fix for its currency on Tuesday and stepped up a verbal campaign, backed by what dealers said was aggressive buying, to convince sceptical investors that they were in control of events. Analysts said offshore buying by state-owned banks, under the direction of the People’s Bank of China (PBOC), dried up yuan liquidity to such an extent that overnight yuan borrowing rates in Hong Kong (HIBOR) hit a record 66.8 percent, and the spread between onshore and offshore yuan exchange rates briefly evaporated.

read more

There is a lot of effort going into supporting Chinese markets today
For example … lets destroy CNH shorts …
Overnight yuan HIBOR to record 66.8% (from yesterday’s 13.4%)
Has it paid off?

In volatile early trade, Chinese markets wavered between positive and negative territories after opening higher.

  The Dow rallied in the final hour of trading, closing in positive territory and capping a day of wide swings. The Dow gained 52 points to 16399, after swinging between gains and losses throughout the session and falling as much as 114 points in intraday trade. Oil prices remained firmly in negative territory, keeping […]

The post A Slight Respite appeared first on UpsideTrader.

The most important question investors should be asking at this point isn’t whether the secular bull market which began in 2009 is over, but whether continued equity market weakness in 2016 will lead to the unthinkable, namely an economic recession. A recession in 2016 has been deemed…

read more