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Archives by Year:
Soaring Consumer Confidence
Consumer confidence soared to a 17-year high in The Conference Board’s report today. High levels of consumer confidence tend to translate to an improved retail sales environment as can be seen in the below chart. With consumers accounting for approximately 70% of economic (GDP) activity, today’s confidence report portends a positive retail sales environment during the holiday […]
NZD/USD Recovery Vulnerable To Dovish RBNZ Parliament Testimony
NZD/USD extends the rebound from earlier this month, with the pair quickly approaching the November-high (0.6980), but the Reserve Bank of New Zealand’s (RBNZ) Financial Stability Report (FSR) may rattle the near-term recovery in the exchange rate should the central bank cast a dovish outlook for monetary policy. With acting Governor Grant Spencer scheduled to testify in […]
Home Prices Rose 6.2% Year-Over-Year In September
With today’s release of the September S&P/Case-Shiller Home Price Index, we learned that seasonally adjusted home prices for the benchmark 20-city index were up 0.5% month over month. The seasonally adjusted national index year-over-year change has hovered between 4.2% and 6.2% for the last thirty months. Today’s S&P/Case-Shiller National Home Price Index (nominal) reached another […]
GBPUSD – Test Of 1.3600 Coming?
Cable popped in late London trade on reports from the Independent that EU and UK have agreed to a Brexit divorce bill. While no details were given, the news if confirmed is the first bright spot in Brexit negotiations for PM Theresa May and suggests that two parties may be finally reaching some key compromises […]
Great Graphic: US 2-Year Yield Rises Above Australia For First Time Since 2000
The steady increase in the US two-year yield while the market unwinds rate hike expectations in Australia has pushed the US rate above Australia for the first time since late 2000. In the past month, the US two-year yield has risen by 15 bp, while Australia’s has fallen by 13 bp. But the narrowing of the […]
Sterling Soars After Britain, EU Agree On Brexit Divorce Bill: Telegraph
The Telegraph is reporting that British and EU negotiators have reached a deal over the so-called ‘Brexit bill’, opening the door to a potential breakthrough in the talks this December. According to the report, that the final figure, which is deliberately being left open to interpretation, “will be between €45bn and €55bn, depending on how each side […]
Banks Again Defending Silver’s 200-Day Moving Average
The Bullion Bank trading desks, which are routinely short thousands of metric tonnes of digital silver, are once again attempting to keep price below the 200-day moving average. And why is this so important to The Banks? For the most basic reasons of all… greed and profit. The only data available to measure the size […]
October Exports Down 1% Imports Up 1.5%: Expect Trump To Howl
The balance of trade deficit increased sharply in October with exports down and imports up. In October, the Census Bureau reported the trade deficit widened by 2.5%, with exports down 1.0% and imports up 1.5%. From a year ago, exports are up 5.5% and imports are up 7.1%. These numbers will subtract a couple ticks […]
The Circle Of Crypto
The world feels fairly surreal sometimes. I watch the relentless rise in price of bitcoin, ether, litecoin, and brethren, and feel it’s just a truly weird moment we’re living in. I’ve never seen assets rising 1000% of, in ether’s case, 5000% in a year. It’s crazy. Alongside this, I see exchanges being hacked on a […]
Most Thai Banks Have NPL-To-Net Loans Above The Global Average
Four large Thai banks: KTB, BBL, KBANK, and SCB all have an NPL-to-net loans ratio above the world. KTB and BBL appear cheapest on a price-to-book basis, this is partially driven by higher NPLs, BBL is likely able to absorb those more easily. *NPL is Nonperforming loan. KKP=Kiatnakin Bank, CIMBT=CIMB Thai Bank, KTB=Krung Thai Bank, […]
