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TradeTheNews.com US Mid-Session Update: Risk-Off Fear Trading Tank Global Markets   
Thu, 11 Feb 11:32 AM EST/04:32 PM GMT
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Economic Data
- (ZA) South Africa Dec Manufacturing Production M/M: 1.8% v 0.1%e; Y/Y: +0.4% v -1.5%e
- (IL) Israel Jan Trade Balance: -$0.6B v -$0.8B prior
- (RU) Russia Dec Trade Balance: $11.0B v $10.0Be
- (US) Initial Jobless Claims: 269K v 280Ke; Continuing Claims: 2.239M v 2.25Me
- (CA) Canada Dec New Housing Price Index M/M: 0.1% v 0.2%e; Y/Y: 1.6% v 1.6% prior
- (MX) Mexico Dec Industrial Production M/M: -0.1% v 0.2%e; Y/Y: 0.0% v 0.3%e; Manufacturing Production Y/Y: 2.5% v 1.9%e
- (US) Weekly EIA Natural Gas Inventories: -70 bcf vs. -83 to -85 bcf expected range
- (NL) Netherlands Q4 GDP Q/Q: 0.3% v 0.3%e; Y/Y: 1.6% v 1.3%e
- (NL) Netherlands Dec Trade Balance: €3.1B v €4.7B prior

The current round of risk-off fear trading got under way in Asia, as the Hang Seng reopened for trading after the Lunar New Year with a 3.9% loss. European stock indices are off their lows but still down sharply after Sweden's Riksbank adopted negative interest rates in a surprise move. US futures follow Europe and Asia lower, with very weak bank stocks and another day of big losses for energy leading markets to the downside. Note also the Boeing's 12% loss on reports of an SEC investigation into Dreamliner and 747 accounting is hammering the DJIA. As of writing, the DJIA is down 2.30%, the S&P500 is off 1.95% and the Nasdaq is down 1.55%.

It's day two of Fed Chair Yellen's semi-annual Congressional testimony, with Yellen at the Senate today. Yellen offered more interesting color than was on tap before the House, qualifying job gains ...
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