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Archives by Year:
Mortgage Purchase Applications Decline 4th Week, Refinancing Lowest Since 2000
Mortgage applications are yet another sign that housing has peaked this cycle. Econoday Synopsis Purchase applications for home mortgages fell a seasonally adjusted 2 percent in the August 3 week, posting the fourth weekly decline in a row, while applications for refinancing fell 5 percent to their lowest level since December 2000. Unadjusted, purchase applications were […]
Tesla Under Pressure As Analysts Debate If Musk Should Take Carmaker Private
Shares of Tesla (TSLA) jumped yesterday after CEO Elon Musk said he would like to see the company go private, but have since stepped into negative territory as analysts debate the idea. While Jefferies analyst Philippe Houchois believes going private “feels like the right thing to do”, his peer at Morgan Stanley questions the feasibility […]
Gold ETF Flows Show Capitulation
Gold is under fire, and you can see it in the flows that investors are starting to capitulate. Facing headwinds of a stronger US dollar, and rising real yields, gold has broken down through its short term uptrend line (which came after failing to break through resistance). With futures positioning stretched to the downside and ETF outflows […]
Weekly Technical Perspective On Crude Oil Prices (WTI)
In this series, we scale-back and take a look at the broader technical picture to gain a bit more perspective on where we are in trend. Crude oil turned from long-term uptrend resistance last month with price plummeting more than 10% off the yearly highs. Today’s decline is challenging the monthly opening range lows with the price […]
Back When Things Happened In August
Financial markets today look just how you would expect them to look on a hot sunny day in August. There’s not a lot going on. Take economic data, for example. We’re already three days into the trading week and the only reports of note so far have been JOLTs (which really isn’t really a market-moving report) and Consumer […]
The Three Largest Cryptocurrencies – Wednesday, August 8
With so much focus on bitcoin lately, we’ve added a new weekly update that tracks the three largest cryptocurrencies by market share: bitcoin, Ether, and Ripple. According to Wikipedia, a cryptocurrency is “a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional […]
“It’s Overvalued” – Tesla Bonds Dip On Report Musk-Softbank Talks Failed
With everyone desperate to discover just who is funding this debacle of an LBO/MBO, Bloomberg is reporting that Musk and Masayoshi Son held talks last year about SoftBank investing in Tesla, including potentially taking the electric carmaker private – but talks broke down over disagreements on control. Son and Musk met in April 2017 to discuss an investment […]
Drugmakers Fall After CMS Unveils Changes To Medicare Part B Plans
On Tuesday, the Centers for Medicare and Medicaid Services gave new authority to Medicare Advantage plans that allows those plans to negotiate lower drug prices. The policy will also allow Medicare Advantage plans to cross-manage across Part B and Part D as applicable. Publicly traded drugmakers that may be impacted by the news include Regeneron […]
NZD/USD Testing Daily And Weekly Range Low Near 0.6700 Ahead Of RBNZ
Falling in the awkward post-US, pre-Asian session, the Reserve Bank of New Zealand will deliver its quarterly monetary policy statement in just a few hours (21:00 GMT). While the release is functionally equivalent to the Fed’s “live” quarterly meetings when it delivers updated assessments on the economy, the primary difference is that the RBNZ is […]
What Chinese Trade Shows Us About SHIBOR
Why is SHIBOR falling from an economic perspective? Simple again. China’s growth both on its own and as a reflection of actual global growth has stalled. And in a dynamic, non-linear world stalled equals trouble. Going all the way back to early 2017, there’s been no acceleration (and more than a little deceleration). The reflation economy got started […]
