Author Archive: Jeremy Parkinson
Morgan Stanley Wealth Sells All Junk Bond Holdings, Warns Of Recession Risk
According to Morgan Stanley Wealth Management, it is too late to buy junk bonds in this market cycle, which is why one of the otherwise most bullish banks is cutting its high-yield bond holdings to zero, Mike Wilson, the CIO of Morgan Stanley Wealth writes in his 2018 outlook. While tax cuts are expected to […]
Without Rent, Inflation Is Way Below Fed’s 2.0 Percent Target
The NYT had a piece discussing the views of members of the Federal Reserve Board’s Open Market Committee (FOMC), which sets monetary policy, on the course of interest rates over the next year. The piece notes that inflation has consistently been below both the Fed’s 2.0 percent target and the FOMC members projections, as they have consistently […]
Nigeria’s Manufacturing PMI Expands Further In December
Business activities in Africa’s largest economy expanded for the ninth consecutive month in December, according to the Central Bank of Nigeria report released for the month. The manufacturing Purchasing Managers’ Index expanded by 59.3 in December, better than the 55.9 recorded in November. Fifteen of the sixteen subsectors surveyed recorded growth in the following order: petroleum […]
Morning Call For Thursday, January 4
OVERNIGHT MARKETS AND NEWS Mar E-mini S&Ps (ESH18 +0.20%) this morning are up +0.14% at a fresh record nearest-futures high and European stocks are up +1.21%. Stock markets around the world are moving higher on optimism the global economic expansion can continue. Energy stocks are gaining with Feb WTI crude oil (CLG18 +0.31%) up +0.32% at a […]
The S&P 500 At The End Of 2017 And What Lies Ahead In 2018
Falling between the Christmas and New Year’s holidays, not much of newsworthy note happened for the S&P 500 during the fourth week of December 2017 and the final week of that year. Consequently, the S&P 500 mostly moved sideways during Week 4 of December 2017 before dipping by 0.5% to close at 2,673.61 on Friday, […]
Teva Upgraded To Buy From Neutral At Citi
Citi analyst Liav Abraham upgraded Teva Pharmaceutical (TEVA) to Buy and raised her price target for the shares to $24 from $16. The drugmaker closed yesterday up 2c to $19.13. The analyst “more constructive” on the Specialty Pharma group heading into 2018. More realistic expectations, along with pipeline catalysts set the stage for a […]
Gold Prices Recover With US Dollar Pull Ahead
Gold prices had an excellent session on Wednesday, as gains moved towards the resistance level at $1321 an ounce, the highest level in 3 months. After the release of the minutes of last Federal Reserve meeting, the gold prices crashed towards $1306 an ounce at the start of Thursday’s trading. the Federal Reserve maintained the […]
Stocks Smash Records Around The Globe; Nikkei Has Best Annual Start Since 1996
Another day, another record high in markets around the globe as stocks – contrary to what Jeremy Grantham expects – have already entered the blow-off top mania phase. U.S. equity index futures rise, following a jump in European and Asian shares, while the Nikkei exploded higher after being held back for the past two days by holidays. […]
EUR/USD Uptrend Bounces At Critical 1.20 Support Zone
EUR/USD 4 hour The EUR/USD uptrend retraced back to the broken resistance (dotted red lines) at 1.20 which has provided support for a bullish bounce. Price could use the support zone to make a new rally but a larger resistance zone (red lines) is still present which makes this particular spot difficult and a larger […]
Greenback Continues To Consolidate Recent Losses
The US dollar is sporting a softer profile across the board, though remaining largely in the ranges seen over the past couple of sessions. At the same time, the news stream suggests that the global synchronized growth cycle strengthened late last year and is bound to carry over into the New Year. The mostly firm manufacturing […]
