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Latest Financial News

PBOC to run daily overnight reverse repos to Nov 2 in first step after policy rate signal

The direct effect should be calmer overnight funding in China’s interbank market through month-end, with the 1 trillion yuan daily cap large enough to stop short-term rates spiking. The bigger market question is the rate the operations carry, which has not been confirmed. If it is set near the current overnight market level of around…

PBOC sets USD/ CNY mid-point today at 6.7200 (vs. estimate at 6.6813)

The PBOC allows the yuan to fluctuate within a +/- 2% range, around this reference rate. More here on this.PBOC zero 7-day reverse repos today (65bn mature so a net drain)---Earlier:China holds loan prime rates for 17th month as policy focus shifts to short-term ratesExplainer: China eyes overnight rate as main policy tool, what it…

China holds loan prime rates for 17th month as policy focus shifts to short-term rates

The hold was widely expected and should have little direct market impact. The more important signals for traders now come from China’s short-term rates. Monday’s comments from PBOC Governor Pan Gongsheng about moving to an overnight policy rate matter more for the outlook, since the level at which any new rate is set will shape…
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Our Latest Daily Chop

Is Donald Trump Putin’s Bitch? 

Is Donald Trump doing Vladimir Putin’s bidding, or is there another explanation for his Russia policy? Max examines the sanctions waiver, tensions with Zelensky, disputed claims about US aid to Ukraine and the history behind Trump’s relationship with Putin. Separating documented events from unproven allegations, this is a closer look at who benefits from Washington’s decisions—and why the questions keep coming.
Editorial cartoon depicting Donald Trump and Vladimir Putin across a negotiating table, with a sanctions document, Russian fuel barrels and a map of Ukraine symbolising the debate over whether US policy benefits Russia.

Steal What Works: What Rugby League Can Teach You About Trading 

What can rugby league teach you about trading? More than you might expect. From rugby union borrowing league’s defensive expertise to traders combining technical analysis, fundamentals and market sentiment, Max explores why the best results often come from learning beyond your usual approach. Discover how to challenge trading biases, judge price against expectations and adapt useful ideas without blindly copying someone else’s playbook.
Editorial cartoon showing aEditorial cartoon showing a rugby union coach borrowing rugby league tactics while a trader combines charts, economic data and market sentiment to improve a trading strategy.league tactics while a trader combines charts, economic data and market sentiment to improve a trading strategy.

Half a Mooch: What the Hell Is Going On With Trump’s Hiring Department? 

Katie Zacharia’s White House press secretary career was over almost as quickly as it began. After a rocky first briefing and questions about her professional qualifications, Donald Trump publicly wondered whether the job was right for her. Max examines the five-day appointment, the comparison with Anthony Scaramucci and a bigger question about Trump’s hiring style: what happens when loyalty and presentation risk taking priority over competence?
Editorial cartoon depicting Donald Trump overseeing White House hiring, with an empty press secretary podium, a ticking five-day clock and Anthony Scaramucci representing the brief tenure of Katie Zacharia.

The Emperor’s Shitty Pants: What Exactly Is Going On With Donald Trump’s Trousers? 

Donald Trump has built a political brand around strength, stamina and being the toughest man in the room. But unusual footage, questions about his movements and viral speculation about his trousers have reignited a bigger debate: how much should the public know about an ageing president’s health? We separate observable facts from online theories, examine the competing medical assessments and ask why the standards Trump applied to Joe Biden should apply to him, too.
Editorial cartoon depicting Donald Trump and the controversy surrounding his trousers, presidential image, ageing and questions about fitness for office.
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