APAC Global Macro Morning Brief – Happy Macro Fri 6 Dec 2019: Gratitude = Gateway to Success

Macro 1 minute to read

Kay Van-Petersen

Global Macro Strategist

Summary:  Morning APAC Global Macro & Cross-Asset Snapshot


 

(Note that these are solely the views & opinions, they do not constitute any trade or investment advice of any kind.)

To see this wk’s Macro Monday click here

APAC Global Macro Morning Brief

 

Happy Macro Fri 6 Dec 2019: Gratitude = Gateway to Success…

 

Next week, is the last “real” week of the year before the classic year-end school & Northern Hemisphere Winter holidays, & the year-end lack of liquidity comes into play

We will of course also have the Sun Dec 15 deadline on the US/CH Trade deal, which the market now feels is back on track for a successful announcement

Whilst the Fed & ECB will be on the agenda over Wed & Thu next wk, there really should be nothing new from those meetings – which makes them worth watching!

Speaking of the Fed & the repo market, great to see congress men & women getting into the weeds of things with FOMC member Quarles a few days back - & yes expect more liquidity to be needed into year-end & start

Here is a small excerpt…

“Mr. Quarles, over the weekend the New York Times published a profile on your regulatory approach. And notably, you have chosen to spend your time in this role — in your first 21 months in office you met with Goldman Sachs 24 times;

you met with JPMorgan 19 times; you met with Morgan Stanley 17 times; and with Citi[group] 12 times. In that same time frame, how many consumer groups did you meet with?”


The spirit of the questioning is right on point…

i.e. In theory the Federal Reserve should be an entity that serves the many & not the few…

In practice… well lets start off with the fact that the Fed is privately owned. There are people who have been in the markets for decades who are not even aware of this...

-

When you are going through your version of “TTT”, The Tunnel of Turbulence – be it pnl loss or big drawdown, or challenges on the family or career front, & sometimes all the above

Its worth taking a step back & focusing on the day to day process of things

Its actually not the most talented or smartest or fittest that tend to rise to their respective commitments be it:

Brazilian Jiu Jitsu World Champion, Phenomenal Trader or Investor, World Class Teacher, Sustainable NGO Founder, Best Parent / Manager / Spouse / Sibling / Olympian / Author / Actor / Comedian / Golfer / etc. you can be

Its those that can at least do these three things consistently over-time:

1. They celebrate & are grateful for the little things that life gives on a daily basis… When you are grateful, anger-frustrations-pain-ego-“challenges” peter away…  It can be as small as appreciating a warm good morning greeting, to enjoying a coffee & watching sunlight play over green carpeted mountain vistas

2. They fall in love with the process… for them, its not a grind… its just a natural part of their lifestyle, there is nothing else they would rather be doing with their time

3. They tend to have some form of daily Self-Capex or Self-Love: be it meditating, working out, journaling, quiet block of time for themselves etc… They understand (consciously or sub consciously) that Lifestyle = Edge or Lifestyle = No Edge

-

The above reminds me of an interesting framework & approach from my man Jocko, GOOD.

%$#! hits the fan?

GOOD! Great opportunity to learn from it & get better

Did not raise enough capital?

GOOD! Let’s regroup & subtract what is not working & double down on what is or/& try new strategies

 

Had a big night out & struggling in the morning?

GOOD! Time to hit the treadmill & sweat it out, these are the workouts that are game changing to one’s character

-

Have a beautiful day everyone & diversified epic wkd up ahead – do something awesome for yourself, as well as for someone else - without their knowledge

Namaste

-KVP


Today:

  • JP: Avg. Cash Earnings, Household Spending, Leading Indicators
  • CA: Employment Change 10k e -1.8k p, Unemployment Rate 5.5%e/p
  • EZ: GER Industrial Production
  • US: NFP 181k e 128k p, Unemployment Rate 3.6%e/p, UoM Consumer Sentiment 97.0e 96.8r (95.7p), Consumer Credit

 

Other:

Disclaimer

Saxo Capital Markets (Australia) Pty Ltd prepares and distributes information/research produced within the Saxo Bank Group for informational purposes only. In addition to the disclaimer below, if any general advice is provided, such advice does not take into account your individual objectives, financial situation or needs. You should consider the appropriateness of trading any financial instrument as trading can result in losses that exceed your initial investment. Please refer to our Analysis Disclaimer, and our Combined Financial Services Guide and Product Disclosure Statement. All legal documentation and disclaimers can be found at https://www.home.saxo/en-au/legal/.

The Saxo Bank Group entities each provide execution-only service. Access and use of Saxo News & Research and any Saxo Bank Group website are subject to (i) the Terms of Use; (ii) the full Disclaimer; and (iii) the Risk Warning in addition (where relevant) to the terms governing the use of the website of a member of the Saxo Bank Group.

Saxo News & Research is provided for informational purposes, does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of our trading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. No Saxo Bank Group entity shall be liable for any losses that you may sustain as a result of any investment decision made in reliance on information on Saxo News & Research.

To the extent that any content is construed as investment research, such content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication.

Please read our disclaimers:
- Full Disclaimer (https://www.home.saxo/en-au/legal/disclaimer/saxo-disclaimer)
- Analysis Disclaimer (https://www.home.saxo/en-au/legal/analysis-disclaimer/saxo-analysis-disclaimer)
- Notification on Non-Independent Investment Research (https://www.home.saxo/legal/niird/notification)

The Saxo trading platform has received numerous awards and recognition. For details of these awards and information on awards visit www.home.saxo/en-au/about-us/awards

Saxo Capital Markets (Australia) Pty Ltd ABN 32 110 128 286 AFSL 280372 (‘Saxo’ or ‘Saxo Capital Markets’) is a wholly owned subsidiary of Saxo Bank A/S, headquartered in Denmark. Please refer to our General Business Terms, Financial Services Guide and Product Disclosure Statement to consider whether acquiring or continuing to hold financial products is suitable for you, prior to opening an account and investing in a financial product.

Trading in financial instruments carries various risks, and is not suitable for all investors. Please seek expert advice, and always ensure that you fully understand these risks before trading. Trading in leveraged products such as CFDs and Margin FX products may result in your losses surpassing your initial deposits. Saxo Capital Markets does not provide ‘personal’ financial product advice, any information available on this website is ‘general’ in nature and for informational purposes only. Saxo Capital Markets does not take into account an individual’s needs, objectives or financial situation.

Apple, iPad and iPhone are trademarks of Apple Inc., registered in the US and other countries. AppStore is a service mark of Apple Inc.

The information or the products and services referred to on this website may be accessed worldwide, however is only intended for distribution to and use by recipients located in countries where such use does not constitute a violation of applicable legislation or regulations. Products and Services offered on this website is not intended for residents of the United States and Japan.
Please click here to view our full disclaimer.