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Archives by Year:
Italy Capital Flight Escalates: Highest Two-Month Total Ever
Capital Flight in Italy escalates at a record pace. It’s seen in Target2 balances and spreads rather than an EM crisis. Thanks to Holger Zschaepitz for this set of Tweets. Silent Capital Flight #Italy saw record-high capital outflow of €76bn in May-Jun, larger than €51bn outflow in Jun-Jul2011 and €56bn in Feb-Mar2012, Citi has calculated. […]
Kansas City Fed Survey: Index Edged Down In August
The Kansas City Fed Manufacturing Survey business conditions indicator measures activity in the following states: Colorado, Kansas, Nebraska, Oklahoma, Wyoming, western Missouri, and northern New Mexico. Quarterly data for this indicator dates back to 1995, but monthly data is only available from 2001. Here is an excerpt from the latest report: KANSAS CITY, Mo. –The […]
Musk Hires Morgan Stanley As Advisor On Going Private Transaction
First Elon Musk said he had hired Goldman Sachs (along with a bunch of other advisors), even though the bank initially denied it had been formally retained. Then, moments ago Fox Biz News’ Charlie Gasparino reported that Elon Musk had also retained Morgan Stanley to assist him in his “funding unsecured” bid to take Tesla private. SCOOP @elonmusk retains […]
New Home Sales Sink 1.7% To 627,000 Units: Builder Spec Homes Most Since 2009
New home sales in July were 627,000 units SAAR. Economists expected a rebound in new home sales to 649,000 from 631,000. The Econoday economists missed the mark badly once again in their housing estimates. Sales in July slipped to 627,000 units seasonally adjusted annualized (SAAR), well under consensus and even lower than the bottom estimate of 630,000. […]
AMD Rises As Analyst Boots Target To Street High On Growth Potential
Shares of AMD (AMD) are on the rise after Rosenblatt analyst Hans Mosesmann increased his price target on the shares to $30 from $27 on renewed conviction in the company’s multi-year double-digit growth profile. SUSTAINABLE DOUBLE-DIGIT GROWTH: After hosting institutional investor meetings last week with management, Rosenblatt’s Mosesmann raised his price target for AMD shares […]
Chart: Bond Market Volatility
Following on from yesterday’s post on Cross Asset Volatility, the chart of today is a focus on bond volatility. Specifically what we’ve got here is a look at the rolling annual sum of daily changes in the US 10-year treasury bond yield which exceeded varying hurdles (the smallest hurdle being 5 basis points). What the chart shows […]
It’s Quite A Dust-Up
The way I phrased it last week, I am long-term bearish on precious metals (in spite of their being in a 7-year bear market) and short-term bullish. Well, the “bullish” worked out, because gold, silver, and more specifically the miners, all had nice bounces. Those few days of reprieve, however, seem to have shot their […]
US Bank Profits Hit A Record $60 Billion In Q2
The happy days on Wall Street have never been happier. According to the latest quarterly FDIC report released on Thursday, banks reported aggregate net income of $60.2 billion in the second quarter of 2018, up $12.1 billion (25.1%) from a year ago and a new quarterly record. Only 3.8% of institutions were unprofitable during the quarter, down […]
Will The Trade War Derail The Longest Bull Market In History?
Copper, European banks, and emerging markets all entered into bear market territory last week and the trillion dollar question strategists are asking is whether US markets are likely to get pulled down as well, especially with fears that a full-blown trade war may crash the global economy. With this now being the longest bull market in […]
