Author Archive: Jeremy Parkinson
It’s Not Just LIBOR Pointing To Rising Financial Stress
Many have noted recently that the spread between 3-month LIBOR and the overnight interbank lending rate has now risen to the highest level since the financial crisis, typically a sign of rising financial stress. At the same time, many have noted that this time there are other dynamics at work that suggest the rise is […]
S&P 500 Snapshot: Down 3.8% From Last Thursday
This week, the S&P 500 continued to decline with 3 days of losses. The index closed Thursday at its lowest yet of the week and fell 3.77% from this time last week. It is down 1.93% YTD and is 8.0% below its record close. The U.S. Treasury puts the closing yield on the 10-year note […]
Micron Earnings Beat The Street
CNBC’s Josh Lipton reports on the quarterly earnings report for Micron Technology.
Gold Still Lacks Lustre
At times of market turbulence traders and investors have traditionally turned to gold as a safe haven and store of value, but today’s announcement by Donald Trump of tariffs against China and the threat of trade wars have failed to move the precious metal significantly higher. By contrast the majority of the price action […]
EIA Data Keeps Natural Gas On The Floor
It was another EIA disapointment for natural gas, as the market crept up ahead of the data and sold off on the release that generally hit expectations, settling down slightly on the day. The EIA announced that last week we drew 86 bcf of gas from storage, which was 2 bcf less than our 88 […]
5 Quality Picks As Fed Hikes Rate, Turns Hawkish For 2019
As expected, the Federal Reserve, headed by the new chairman Jerome Powell, raised interest rates for the sixth time since the financial crisis by 0.25% to 1.50-1.75%. The central bank hinted at gradual hikes for this year with two lift-offs but turned hawkish for 2019 and 2020, citing growing confidence in the strengthening economy. The […]
Market Talk – Thursday, March 22
Having seen the US markets actions to the Fed hike, we had a rather dull response in Asia which resulted in a mixed session. Tech and Real Estate pushed the Hang Seng down just over 1% through on-going data concerns, then also worries over increased funding costs. The Shanghai also fell -0.5% when the reverse […]
Goldilocks Or Frankenstein: Saxo Bank “Technology Winter” Presentation
It’s easy to see things the way you want, not how they are. Goldilocks or Frankenstein? Think about “peak expectations” Saxo Bank CIO and Chief economist Steen Jakobsen made a presentation yesterday following the Fed rate hike announcement. The macro presentation Goldilocks or Frankenstein was on the Technology Winter, Monopolies and FED policy mistakes. Via email, Jakobsen […]
March 2018 Kansas City Fed Manufacturing Was Unchanged
Of the three regional manufacturing surveys released for March, all were in expansion. Analyst Opinion of Kansas City Fed Manufacturing Kansas City Fed manufacturing has been one of the more stable districts and their index was unchanged. Note that the key internal “new orders” was in contraction this month. There were no market expectations from […]
Stocks Plunge As Trade Turmoil, Credit Crisis, & Tech Wreck Loom
Seemed appropriate… All of a sudden, ‘stuff’ matters: Powell hawkish Trump lawyer resigns Trump trade wars start Funding market stress surges Credit markets spike Facebook new lows Tech tax and regulation The Dow dumped over 700 points on massive volume, broke below it 100DMA to its lowest since Feb 9th… and lowest close since […]
