Author Archive: Jeremy Parkinson
Alexion To Acquire Sweden’s Wilson Therapeutics For $855M In Cash
Alexion Pharmaceuticals (ALXN) and Wilson Therapeutics AB announced that Alexion has made a recommended public cash offer to the shareholders in Wilson Therapeutics to acquire all outstanding shares in Wilson Therapeutics by way of a tender offer, through a wholly-owned subsidiary. Wilson Therapeutics, based in Stockholm, Sweden, develops therapies for patients with rare copper-mediated disorders. […]
Too Late To Stop Now – The Case Against Bonds
The 35-year bull market in bonds has created an environment where investors will most likely face either low future real returns or even sizeable losses. An optimally constructed portfolio does not completely abandon yield-generating assets. Given this backdrop, investors would be wise to consider substituting bonds with “alternative yield” funds. And I want to rock […]
Indian Indices End Marginally Higher; Metal Stocks Witness Buying Interest
After opening their day on a flat note, Indian share markets witnessed volatile trading activity throughout the day and ended their session marginally higher. Gains were largely seen in the metal sector and IT sector, while oil & gas stocks and banking stocks ended the day lower. At the closing bell, the BSE Sensex stood higher by 60 points (up 0.2%) and the NSE Nifty closed higher by […]
Futures Tumble Amid Fears Of “Imminent” Syria Airstrikes, CPI Looms
The daily see-saw pattern in capital markets continues and after yesterday’s euphoric sprint higher on what the market misinterpreted as “conciliatory” remarks by China’s president Xi, this morning global stocks and US equity futures are sharply lower on fears of imminent military action in Syria. Europe’s Stoxx 600 fell as much as 0.5%, trimming recent […]
‘It’s A Race To The Bottom’: Ruble, Lira Crushed As Russia, Turkey Face Burgeoning Currency Crises
Soft equities, lower bond yields, TRY and RUB in an FX race to the bottom. That’s how SocGen’s Kit Juckes described Wednesday so far and it underscores the idea that the ruble and lira are, like Ron Burgundy, “kind of a big deal.” I talked at length about this over at Dealbreaker on Tuesday in […]
Mr Market Waits For Other Shoe To Drop
Between Syria, trade tensions, and the US special investigator into Russia’s attempt to influence the US election, market participants are cautious as they wait for another shoe to drop. The US equity market recovery yesterday has short coattails as markets in Asia and Europe struggle. Bond yields are mostly softer, and the US 10-year note yield […]
Can The Euro Extend Its Gains Or Is It Only Temporary?
The EUR/USD is rising for the fourth day, buoyed by a positive market mood and mixed messages from the ECB. A speech by Draghi, US inflation, and the FOMC minutes promise further action. The technical picture has improved but there are reasons to question the rally. The EUR/USD is trading around $1.2370, up some 0.15% […]
Platinum And Palladium: Expect The Mean Reversion To Continue
Early this year, I wrote about platinum and palladium. As you recall, palladium was the best performing metal, gaining by more than 40%. It reached a high of $1126 per ounce. On the other hand, platinum had a lukewarm year, seeing just a minor gain. A little history. Platinum and palladium belong to a class […]
Ahead Of The Fed DXY Still Looking For Direction
Ahead of today’s CPI release for the US and Fed minutes I just wanted to take a quick look at the DXY and suggest some key levels we need to watch, and perhaps these two items of news will help to give the index some much-needed direction. Since the beginning of the year, the index […]
February 2018 Philly Fed Coincident Index Year-Over-Year Rate Of Growth Unchanged
The year-over-year rate of growth relative to the previous month of the US Coincident Index was unchanged. A comparison of this US Coincident Index to other coincident indices follows. Analyst Opinion of the Current Status of the Coincident Indicators The reality is that most of the economic indicators have moderate to significant backward revision – and this […]
