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Archives by Year:
Bubble Watch: The Fed Has Burst The Everything Bubble, Pt. 2
Yesterday’s piece generated a lot of interest, so we’re going to develop this theme some more. The key item of note is that while US stocks are holding up, the Fed’s hawkishness has already blown up much of the global financial system. In particular, Emerging Market Stocks have already entered full-blown bear markets. That’s the […]
As If Florence Wasn’t Enough
As if Florence was not enough. Not only are we preparing for Hurricane Florence in what could turn out to be the strongest mid-Atlantic storm in recorded history, now we must deal with the risks of more storms that are heading to and developing in the Gulf of Mexico, as well as lots of news […]
July 2018 CBO Monthly Budget Review: Revenues Up 1%, Outlays Up 7%
from the Congressional Budget Office The federal budget deficit was $895 billion for the first 11 months of fiscal year 2018, the Congressional Budget Office estimates, $222 billion more than the shortfall recorded during the same period last year. Revenues were 1 percent higher than in the same period in fiscal year 2017, but outlays […]
DXY Index Sideways Grind Continues Ahead Of BOE, ECB Tomorrow
The US Dollar (via the DXY Index) has been treading water the past few days, essentially biding time since the start of September: the DXY Index closed at 95.10 on August 31, and at 95.10 is where it opened up today. While traders continue to discuss intense headlines regarding the US-China trade war or emerging market contagion, […]
Is It Time To Start Taking Profits In Junk Bonds?
The Federal Reserve is expected to raise interest rates again later this month, but if that’s another signal that headwinds are building for fixed-income securities the warning isn’t resonating in the junk bond market these days. The crowd’s appetite for below-investment-grade US debt remains strong in the eighth year of a US economic expansion. By […]
E Markets: Reactions
If yesterday was about Brazil election risks and China reaction to US tariffs, then today is also one about reactions just to different headlines. Economic news overnight was light and dark – Australian consumer confidence fell sharply due to mortgage hikes and politics, Korea unemployment jumps to 4.2% with KRW grazing near 1130, China M2 […]
Wage Gains: Is This Time For Real?
The money and bond markets received another solid jobs report last week. Indeed, the unemployment rate remained at historic lows, while new job creation maintained its upward trajectory compared to 2017. The fixed income arena has become somewhat accustomed to this development, and as a result, the attention has shifted to another vital part of […]
Baidu: Is China’s Search Empire Safe From Google?
Baidu (Nasdaq:BIDU) is China’s biggest digital search empire- so it makes sense that investors fear Alphabet (Nasdaq:GOOGL) one day chasing at BIDU’s heels. Rumor has it Alphabet is planning a comeback to China. Baidu CEO Robin Li wrote on his verified WeChat account his giant is ready to do tech battle: “Google decides to return […]
Morning Call For Wednesday, Sept. 12
Overnight Markets And News Sep E-mini S&Ps (ESU18 -0.03%) this morning are up +0.06% on strength in energy stocks and optimism a trade deal with Canada can be reached. Energy stocks rose with Oct WTI crude oil (CLV18 +0.81%) up +0.88% at a 1-week high on signs of tighter supplies after API data late Tuesday showed U.S. […]
Here To Stay
Traditional Markets The mood among investors in Asian stocks is arguably grimmer than the crypto market at this point, as Asian stocks are currently in the longest sell-off of the last 16 years. This rather clever headline compares the market cap of the Chinese stock market to that of the world’s largest corporation. Here we can see the China 50 index, […]
