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Strategies & Market Trends : January Effect 2003
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To: Londo who wrote (136)2/15/2003 4:08:29 PM
From: RockyBalboa  Read Replies (1) of 666
 
The recent inflictions in the macro building blocks (pair, interests EU/overseas, stock indices, commodity (gold as a residual)) were another nice test case of what could happen.
What happened during and after the powell speech repeated itself quite nicely during the blix presentation, like a clockwork (with slightly changed recovery parameters).

Stocks rose, EUR and EUR bonds gushed, and the T also reversed.
What was interesting was that bonds did not recover much (albeit at a high level), while the EUR quickly and powerfully reversed itself and pared the losses to close little changed while stocks closed strong in the view of a perhaps weeklong upside now.
So macro model betas needed another adjustment towards the EUR (has upside), and against bonds (more downside).

Gold trades on its own but the day of reckoning nears.
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