Here's What Wall Street Traders Are Chatting About Right Now

London Trading Floor Bankers Traders

Photo: Peter Macdiarmid/Getty

Dave Lutz of Stifel, Nicolaus relays to us the conversations he’s having with clients this morning.

  • General risk off. Copper getting hit hard on weak Chinese data and chatter about higher bad loan numbers.
  • Despite the weak Chinese PMI, the yuan has hit its highest level against the dollar in 7 months.
  • There’s a PriceWaterhouseCooper report about China’s mountain of bad debt that’s depressing sentiment.
  • Eurozone PMIs: weak.
  • Spanish bond auction: fine.
  • Steep fall in Japanese exports.
  • Annual sales of 30-year corporate debt tops $100 billion for first time since the crisis.
  • Emerging markets like Brazil and Turkey taking defensive measures to keep their currencies weak in the face of massive easing elsewhere.

Also, Michael Block of Phoenix Capital offers a few more observations:

  • Asia is really getting creamed. We’ll soon see if the ‘Beijing Plunge Protection Squad’ really exists, given the weakness in the Shanghai Composite.
  • The Japanese yen is now STRONGER than it was before the BOJ did more QE yesterday. May force BOJ into action.

SEE ALSO: 10 Things You Need To Know Before The Opening Bell >

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.