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Archives by Year:
The Jackson Hole Pop
Get out your party hats ladies and gentlemen, the market closed at all-time highs on Friday finally eclipsing the January peak. After 145 days of slogging, the “bull market is back, baby!” Well, at least for now. Last week, we discussed how the market has become distracted from the bigger picture by any piece of news […]
Saudi Shelves IPO With Oil Above $75, Dallas Fed Sees Upside Shock Risk
Fundamental Forecast for : Neutral FUNDAMENTAL CRUDE OIL TALKING POINTS: The ONE Thing: Supply risk has jumped back into the picture. After multiple weeks of weakness, there is a clear risk arising that supply on a wide scale could be short of demand as Iran sanctions will limit their exports to the world stage. A weaker US […]
Dollar’s Correction May Have More Room To Run
As the US dollar appeared to break higher, we noted that it was overextended. Against most of the major currencies, it was beyond its Bollinger Bands, set at two standard deviations around the 20-day moving average. The correction that began mid-August does not appear over, implying a heavier technical bias for the dollar in the days ahead. […]
Flattening Yield Curve In One Picture
The flattening yield curve is a topic of much discussion. The lead chart shows various spreads it in one picture. Spread Values Spread Values in Basis Points 10-7 Spread: 04 Basis Points 10-5 Spread: 10 Basis Points 10-2 Spread: 21 Basis Points 05-2 Spread: 11 Basis Points This cannot possibly mean what is used […]
Week In Review: Three More China Biopharmas Planning Hong Kong IPOs
Mabpharm Limited, a Taizhou biotech, will IPO in Hong Kong, the eleventh pre-revenue China biopharma to be approved to list there (see story). Mabpharm is developing a portfolio of nine biosimilars, which it hopes will prove to be biobetters. Three of the candidates are in Phase III trials. They were initially discovered by Sinomab, which spun out Mabpharm to […]
Respect The Predictive Power Of An Inverted Yield Curve
There are a few events in investing that have a high likelihood of being good predictors of the equity market’s future direction, like, stock prices follow earnings, market breadth leads price, or an inverted yield curve leads economic weakness. One factor I believe the bears have missed in the recent market advance seems to be […]
As The Credit Cycle Turns
A rising stock market has the illusory effect of masking the economy’s warts and blemishes. Who cares if incomes are stagnant when everyone’s getting rich off stocks? Certainly, winning wealth via the stock market beats working for it. Without question, the pleasure that comes when opening an inflated quarterly brokerage statement is much more satisfying […]
EURGBP: Bullish, Targets Further Upside Pressure.
EURGBP- The pair continues to retain its upside pressure closing higher the past week and opening the door for more strength. Support lies at the 0.9000 level where a violation will turn focus to the 0.8950 level. A break will expose the 0.8900 level. Conversely, resistance resides at the 0.9100 level where a violation if […]
Would Moving To Six Month Financial Reporting Solve Anything?
News that President Trump has asked the SEC to study the potential benefits of moving from quarterly to biannual financial reporting for public companies has stoked a debate as to the merits of such a proposal. While it is certainly true that short-term thinking, often motivated by the desire to please Wall Street, should not be a […]
