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On The Tape

MRKT Call 12/20/2022: The BOJ Joins the Party

On The Tape

RiskReversal Media

News, Business, Investing, Business News

4.6757 Ratings

🗓️ 20 December 2022

⏱️ 32 minutes

🧾️ Download transcript

Summary

Dan Nathan and Guy Adami discuss the top market headlines for Tuesday, December 20th: - Spoos clues, SPX trying to put in a December low - 10 year raging on BOJ surprise - Carter Worth's call on the Yen - Earnings preview NKE FDX MRKT Call is brought to you by our presenting sponsors CME Group, FactSet & SoFi Watch MRKT Call LIVE at 1pm M-TH on YouTube Sign up for our emails Follow us on Twitter @MRKTCall Follow Dan Nathan @RiskReversal on Twitter Follow @GuyAdami on Twitter Follow @CarterBWorth on Twitter Follow us on Instagram @RiskReversalMedia Like us on Facebook @RiskReversal Watch all of our videos on YouTube

Transcript

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0:00.0

Tuesday, December 20th, the Rangers are in Pittsburgh.

0:17.1

That's going to be a great match tonight, Dan.

0:18.3

I know you'll be watching.

0:19.4

This is Market Call, by the way, Guy Adami here. Dan, Nathan, just to two of us on Tuesdays. Today's episode

0:26.0

is brought to you, Dan, by CME group. I love this, by the way, where risk meets opportunity.

0:31.7

I love those commercials with Laird Hamilton. Yeah, he's just got sculls out there in Hawaii. It's great. And also a fact set,

0:39.4

not only our sponsor, Fax Set, but our data partner as well. And we're going to talk about

0:44.7

the yen in a bit because that's the big story of the day. But before we do, how are you, Dan, Nathan?

0:49.5

I'm doing well. You know, it's funny, guy. Today, FACSET reported earnings. They actually reiterated their

0:54.4

guidance for the full year. I thought that was kind of interesting in a way. That stock is really

0:59.3

outperform the broad market. It's down 15% of the year. So good on you, FACSet. Keep it up. Guy,

1:06.5

you know, it's interesting. Overnight, if you pull up your FACSET app, as I often do when I wake up

1:12.9

and I pull up my iPhone, you saw what was going on first in the 10 year. And we'll talk about the kind

1:18.2

of knock on effects. I mean, you've been saying this for a very long time. The volatility that we

1:22.7

see in the 10-year U.S. Treasury yield is something truly extraordinary, and we'll get to the reasons why

1:29.4

in a second. It's funny, though, you know, the knee-jerk reaction with what the BOJ did was, you know,

1:36.0

yields up, stocks down, right? And we've seen that trade before. And it's interesting. If we look at

1:41.0

the S&P 500 futures, this is a chart we've been tracking

1:44.5

for a while, rejected at that downtrend, the 200-day moving average. And to my eye, I mean,

1:49.9

where is the support in this sort of thing? And you and I were left asking the question,

1:54.3

how does the S&P find a near-term bottom in December that it started out to be one of the worst December's in a very long time.

2:02.0

Yeah. I mean, if you look at this, again, if you just look at the trend lines that we've been

...

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