Market Talk – August 8th, 2016

by Martin Armstrong
Armstrong Economics

The Asian cash markets just could not wait to open this morning after the huge Payrolls number on Friday. Admittedly, it took a little time and a better than expected Trade Surplus number (52.31 v’s and estimated 47.6) for the Shanghai market to join the excitement, but they eventually did to close +0.9% firmer. The Nikkei and the Hang Seng however, were euphoric from the start and with JGB’s trading lower (less yield from -0.1% to -0.05%) this also encouraged a weaker Yen. Nikkei closed +2.4% and the HSI +1.5% Asian futures have maintained their gains in late US trading.

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