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Archives by Year:
The Fed’s New Plan Could Kill The Market As Soon As September
As far as the markets go, they’ve had an incredible run since 2009. That’s because the Federal Reserve bought more than $4 trillion worth of bonds and securities in the open market to flatten interest rates and buoy said markets. But going forward, starting in September, the Fed’s stopping its monthly purchases of billions of […]
Health Costs Are Rising Because Of Price Controls
When discussing government involvement in the health sector, I usually focus on the budgetary implications. Which makes sense since I’m a fiscal wonk and programs such as Medicare, Medicaid, and Obamacare are diverting ever-larger amounts of money from the economy’s productive sector. I also look at the tax side of the fiscal equation and complain about how the healthcare exclusion mucks […]
Dismal Data Sends Stocks To Record Highs As Short Interest Collapses To 2007 Lows
Overheard everywhere today… Stocks (Dow and S&P) hit record intraday highs… (must mean everything is awesome, right?) With Nasdaq’s best week of 2017… So clearly, unlike The Leftists, Trump Jr’s email means absolutely nothing… BUT… This morning’s terrible retail sales and inflation data sent ‘hard’ data to new post-Trump lows – lowest since May 2015 – […]
Stocks Fly To Records, Global Risk Rally Continues As Bad Data, ‘Good’ Yellen Keep Hope Alive
And that’s the week ladies and gentlemen. A dovish Yellen on Capitol Hill largely offsetting the rate hike from Poloz, a couple of ECB leaks to make sure the messaging is “just right”, and (another) miss on the CPI print which promptly pushed the odds of a September hike below 10%: The S&P hit a […]
Stocks Dare The Fed
It was only a month ago Fed President Dudley was lecturing us about the dangers of overly easy financial conditions and how inflation’s sanguine performance was “transitory.” And it wasn’t like he was alone. The Fed’s generally accepted second in command, Stanley Fischer, echoed similar comments. Well, this morning about the most awkward economic news […]
Himax Issues Strongly Worded Rebuke To Analyst After Downgrade
Himax Technologies (HIMX) responded to a downgrade of its stock by an analyst at Oppenheimer with a strongly worded reply, in which the company said it has not communicated with the analyst in months and questioned the timing of the report. OPPENHEIMER DOWNGRADES: Oppenheimer analyst Andrew Uerkwitz downgraded Himax to Underperform, the firm’s lowest rating, […]
RecessionAlert Weekly Leading Index Update – Friday, July 14
The latest index reading came in at 23.2, down from the previous week. The RecessionAlert Twitter Feed, @RecessionAlert2, had an interesting observation about the indicator levels in February. RecessionAlert has launched an alternative to ECRI’s Weekly Leading Index Growth indicator (WLIg). The Weekly Leading Economic Index (WLEI) uses fifty different time series from these categories: Corporate Bond Composite, Treasury […]
Ethereum ETF? The Bitcoin Crushing Digital Currency Explained
Bitcoin and Ether have garnered a lot of attention this year due to explosive surge in prices as also extreme volatility. Ether or etherum had surged to about $400 in June, up almost 5,000% from $8 in January. This week, it fell to below $200, down more than 50% from the recent high but still […]
Global Bond Market Breakdown
After the big reflation reset in positioning, global bond markets are showing more signs of breaking down. We previously talked in detail about the idea of the reflation reset in the context of a decent global growth and inflation outlook which would likely set the scene for growth assets to outperform defensive/incomeassets. Now we are beginning to see […]
The Short-Term Uptrend Continues
The short-term uptrend continues, and I am not fighting it. All my shorts were covered a few days ago, and I put a bit of cash back into the market when the new uptrend flashed. Cramer has been mentioning that prices are being pushed higher by all the investors who are reluctantly long the market. […]
