Monthly Archives: June 2013

LCM (after) Dawn Patrol – 28.06.13 – Week End, Accenture: bad… Great strat piece by BAML and Kian (JPM) on global banks…

Bonjour, Sorry I’m late… Took the bike. Europe set to open flat today as we close the quarter. The US closed slightly below where we left them but above the 1600 level with stabilising US10y. The softer US data consumption and speeches by some Fed members helped. Let them speak, don’t spend your days trying […]

LCM Dawn Patrol – 27.06.13 – JPM downgrades chemicals, GS on EM, GS adds Allianz to CL, other Stuff for breakfast.

Bonjour, Europe to open higher on eased concerns regarding the Chinese credit crunch and the tapering of QE. Volumes were quite low in the US after the European close. These are really short term views as we paddle in choppy surf, but it seems that investors still like equities more than the rest. In spite […]

LCM Dawn Patrol – 26.06.13 – GS’12 value stock, MS likes Volkswagen, Italy at risk (FT), SAP bullish…

Mohin, Yesterday’s US session was better with the S&P up 95bp despite the rise in US10y yields on the PBoC remarks that helped Chinese stocks rebound. ¬†Homebuilders, Financials, Semis outperformed while Healthcare, Staples and software (ORCL) underperformed. Philly Semiconductor Index (SOX) +2.43% to 462.5109; MLNX RBCN MRVL LRCX TSM gained most. It seems that markets […]

LCM Dawn Patrol – 24.06.13 – Strat from JPM, GS. Vodafone, Siemens in the news. GS less positive on CAP, MS likes ACCOR, lots of great stuff for your breakfast reading.

Bonjour, European stock index futures point to a lower open, adding to last week’s sharp losses, as investors fretted about the prospect of reduced U.S. monetary stimulus and worries over China’s banking sector. Key levels : SPU3 1577, NKY -1,50%, SHCOMP -3.20%, UST 10y Yields 2.5911, AUD 0.9217, JPY 98.52, Gold $1285, Crude $93.44 What […]

LCM Dawn Patrol – 21.06.13 – Week End. GS ups Bayer, downgrades Merck to sell. JPM ups Danone. Oracle crashes. Semis BtB in line.

Bonjour, Europe to open flat today after yesterday’s crash. The S&P finished down 2.50% (below the 1600 level) and the Nikkei is now up 1.7%. The news that the ESM can directly recapitalise EZ banks is a good news (see below). Today, we’ll keep our eyes off the economic data, we’ll look at European software […]

LCM Dawn Patrol – 20.06.13 – GS and JPM take on the Fed, China PMIs, GS on Tech, everyone loves ALU (cinant).

Howdy, Europe to open lower today following the US after Bernanke confirmed the tapering later this year as the economy appears to be on the right track. US 10y yields reached 2.37%. Also, the HSBC PMI for China came in lower than expected at 48.3 and there won’t be any intervention from the PBOC to […]

LCM Dawn Patrol – 19.06.13 – GS on the FOMC, JPM OW Taiwan in EM, JPM on Tech, another rainy day…

Bonjour, European markets indicated to open flat. US markets up on hopes of a dovish message from the Fed today. Should be quiet all day as we wait for Bernanke’s press conference. Consensus is still for tapering to start in September with assets purchases reduced by $15 to 20bn. Bernanke could add that there is […]