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Singapore Gross Domestic Product (QoQ) above expectations (0.3%) in 3Q: Actual (1.3%)

Singapore Gross Domestic Product (YoY) above forecasts (2%) in 3Q: Actual (2.9%)

Singapore Gross Domestic Product (YoY) above forecasts (2%) in 3Q: Actual (2.9%)

The Monetary Authority of Singapore (MAS) wass widely expected to keep policy unchanged at its meeting. 10 of 14 analysts in a Reuters poll forecasting no adjustments to its exchange-rate based framework.

MAS maintained the prevailing rate of appreciation and kept the band’s width and centre unchanged.

more to come

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Data also released;

Singapore GDP Q3 2.9% y/y

• expected 2.0%, prior 4.4%

+1.3% q/q

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The MAS, which manages policy through the slope, width, and midpoint of the Singapore dollar nominal effective exchange rate (SGD NEER) band, last left settings steady in July, maintaining the prevailing rate of appreciation and keeping the band’s width and centre unchanged.

This article was written by Eamonn Sheridan at investinglive.com.

Japan Money Supply M2+CD (YoY) rose from previous 1.3% to 1.6% in September

Japan Money Supply M2+CD (YoY) rose from previous 1.3% to 1.6% in September

Gold price (XAU/USD) jumps to a fresh record high near $4,130 during the early Asian session on Tuesday. The precious metal extends the rally as renewed US-China trade tensions send investors flocking to safe-haven assets.

China has slapped fees on U.S. ships for docking at its ports, in retaliation for similar charges imposed by Washington on Chinese ships.

Putting the precious into precious metals.

Surging prices continue.

This article was written by Eamonn Sheridan at investinglive.com.

JPMorgan analysts say leveraged exchange-traded funds (ETFs) played a major role in amplifying Friday’s Wall Street selloff, estimating that around $26 billion in ETF-related selling at the close deepened losses triggered by President Donald Trump’s tariff threats against China.

Reuters cite the JPM note published late Sunday. In summary:

• JPMorgan’s Americas equity derivatives team said the forced selling from leveraged ETFs left options dealers scrambling to hedge exposures, worsening the late-day slide. The analysts warned that more ETF-driven volatility could follow as such products grow in popularity.

Leveraged ETFs — which use swaps and options to magnify daily stock moves — have surged in demand this year, with roughly 900 products now on the market, accounting for a third of new ETF launches but just 1% of the industry’s $12 trillion in assets, according to StockTwits data.

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I have to admit this one has me wondering. Its not really news that managers of leveraged products would have had to chase the price lower, just as they have to chase the price higher the other way.

The JPMorgan report adds to concerns that rapid growth in leveraged ETFs could amplify market swings. Rising demand for 2x and 3x single-stock products may heighten intraday volatility, especially if macro shocks, such as new tariffs, trigger further forced hedging by dealers.

I think the best thing to do is to learn to deal with it. Hand wringing won’t help.

This article was written by Eamonn Sheridan at investinglive.com.