TUESDAY 5/12/15; Global Bond Yields Rise; Eurogroup Meeting; ECA; VJET; Z

Asia indexes finish mixed. The NIKK ends dead flat at 19625. Topix +0.3%. Rubber producers in Japan report lackluster sales creating a sour mood. Rubber is a key economic bellwether. Suzuiki Motor gains nearly +6%. SPASX200 gains +0.9%. Aussie banks and financial companies lead the way higher. The Australian annual budget is due out later today. BHP Billiton gains nearly +2%.

The KOSPI is down -0.2%. Taiex +0.2%. Jakarta Comp is up +0.7%. Straits Times -0.9%. The SSEC gains +1.6% as traders continue chasing Chinese stocks higher, however, the HSI is down -1.1%. Nifty and BSE Sensex are each down -2%.

Another earthquake hits Nepal at the China border 7.4 in magnitude. Damage, deaths and injuries are expected. Landslides are occurring and buildings have collapsed. Tremors are felt as far away as New Delhi, India.

European indexes drop like a stone. DAX -1.5%. CAC -1.4%. FTSE -1%. The higher bond yields are causing angst. The Eurogroup meeting continues with the Grexit (Greece exiting the euro) and Brexit (Britain exiting the EU) discussions on tap. Greece makes its payment deadline to the IMF as expected. The Greece bailout drama 


















[Text is Redacted: Purchase May 2015-05 to Read the Complete Chronology]

Shipping giants UPS and FDX are key bellwethers for the global economy. A key intermediate and long term market signal is the 20 and 50-week MA cross for UPS and the 20-week moving average crosses under the 50-week MA signaling stock market trouble for the weeks and months ahead. The market bulls must reverse this negative cross as quickly as possible if they expect the stock market joy to continue.

Euro 1.1232. Dollar/yen 119.75. Pound 1.568. Gold 1192. Silver 16.515. Copper 2.929.

Treasury yields are; 2-year 0.60%, 5-year 1.57%, 10-year 2.26%, 30-year 3.02%.