Limit Up! 26th August 2025

Ian Reynolds August 26, 2025

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Overnight

Economic Indicators Released Overnight

Markets are distinctly edgy as Bitcoin gets hammered and US equities move lower. The beneficiary so far seems to be Chinese stocks and maybe bonds as yield go higher. Yuan was higher overnight after weeks of no movement. PBoC adding liquidity helps as does drawing a line under real estate issues.

Not satisfied with Powell's subservience, Trump is now moving quickly to get rid of Lisa Cook from the FOMC. It's a knife edge between living with poor outcomes and being forced to pivot.

Without data of any importance until Friday, sentiment will drive price.

US Equities

Breaking

Breaking Trump Removes Fed Governor Lisa Cook Effective Immediately [Bloomberg]

Chinese Property Stocks Jump on Expectation of More Stimulus [Bloomberg]

Rich economies will need foreign workers to fuel growth, policymakers warn [FT]

Chinese households have amassed record savings. That’s now fueling a stock market boom [CNBC]

PBOC Looks to Ease Pressure on Bond Market With Cash Injections[Bloomberg]

Bitcoin

BTC continues the sell-off. Let's see where we close. We've seen this pattern so many times before.

BITCOIN/USD Daily

Commodities

Oil challenging the top of the bear flag. Gold and Silver having a quiet day.

SPOT BRENT Daily

Foreign Exchange

USD, via DXY, can't confirm below short-term support as sentiment from Powell's speech reverses.

DXY Daily

Bonds

Zooming out, the deflationary bust seems to have, at least, paused. Foreign flows into Chines equities suggest that bond yields are making China investible again.

China 30 Year Government Bond Yield Monthly