Trying to hear what is not being said – August 20, ’12

The continued rise in nationalism – Chinese citizens protesting about Japan’s territorial claims over some distant islands.

South African police shoot and kill striking workers at platinum mine.

Russian could curb wheat exports due to expected weak crop harvest.

Australian Government 10 year bond is now yielding more than RBA’s cash rate. Yield Curve is back to normal.

ASX 200 and Shanghai Composite looking like creating their lows for 2012. IF they find their low now, then expect U.S. to find its base around October.

There is no debt crisis until interest rates start rising. Forget whether rates are cut 25bps, what would happen if interest rates double.

Currency markets lead equities, while I believe what credit tells me over equity.

Thai & Indonesia posting good growth numbers.

Rice supplies are tightening.

Sugar looks oversold on short-term basis.

Rubber is trading at 3 year lows.

 

 

 

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