Author Archive: Jeremy Parkinson
EC Bank Earnings Finally Taking Off
Bank stocks are up +19.2% over the past year, outperforming the broader market’s +15.5% gains and the Finance sector’s +17.7% gain. But the industry has struggled lately, with stocks in the Zacks Major Banks industry down -8.6% since February 1, underperforming the S&P 500 index’s -5.6% decline in that same period, as the chart below […]
Forex Weekly Outlook April 9 -13 – Can The Dollar Continue Higher?
The US dollar extended its recovery in the new quarter, at least against the majors. Is this trend real? US inflation data and the FOMC meeting minutes stand out in the second week of April. Here are the highlights for the upcoming week. The US gained only 103K jobs in March, fewer than expected. However, wage growth […]
Don’t Be Fooled By March’s Wimpy Payroll Growth
With nothing more than a quick glance, March’s jobs report was a bit alarming. We only added 103,000 new positions, and the unemployment rate actually didn’t edge lower to 4.0%, as was expected. That’s a far cry from the 326,000 new payrolls added in February, particularly in light of the fact that we’re allegedly in […]
Key Chart Patterns In FX
There are several dominant patterns in bilateral US dollar exchange rates. It might be helpful to focus on these as the macro investment climate has become unhinged with the US threatening to escalate the already elevated trade tensions. Indeed, the trade tensions, which have contributed to the rise of equity market volatility, have left the currency […]
Bulls Hang On By A Thread
Over the last couple of weeks, not a lot has changed. Market internals remain poor, and “trade war” rhetoric from the White House continues to worry the markets. It also certainly didn’t help the situation on Friday when President Trump decided to calm the markets by saying: “I’m not saying there won’t be a little pain so […]
GBP: Lack Of Data Leaves Sterling Adrift
Talking Points: Weak UK Services PMI pinned on bad weather. Next week’s data calendar is thin. Sterling crosses to be steered by other currencies with USD to the fore. Fundamental Forecast for GBP: Neutral We have changed our outlook for GBP to neutral from bullish on a lack of any positive hard data this week while a fairly light economic calendar next week will […]
Week In Review: Concord Medical Raises $240 Million For China Radiology Services
Concord Medical Services (NYSE: CCM) announced that CICC Capital led an investment of between $238 million and $286 million in Concord’s subsidiary Beijing Meizhong Jiahe Hospital Management (see story). The investors will hold 37.5% to 41.9% of Meizhong Jiahe’s equity after the investment. Concord Medical Services Holdings Limited provides radiotherapy and diagnostic imaging services within public hospitals or in standalone […]
E Blame The Baby Boomers – U.S. Labor Force Participation Rate Due To Fall Further
“The baby boomers are retiring from relatively high-wage jobs while young people, who start at relatively low wages, are still pouring in to the labor market. This slows the growth of wage rates at a given unemployment rate, leading to lower unemployment at a given rate of wage growth.” (The CBO, January 13, 2017 Projections) […]
