Author Archive: Jeremy Parkinson
The Crash Of 1987 — Happy 30th Anniversary
I was at the center of the October 19, 1987 stock market crash, when the U.S. equity market dropped 20% in a single day. The second chapter of my book, A Demon of Our Own Design recounts my experiences during the 1987 Crash and provides an explanation of what went wrong. The essence of the problem was […]
Interest Rates And The New Normal
from the San Francisco Fed — this post authored by John C. Williams The Federal Reserve is moving towards more normal monetary policy, which means rising interest rates. But factors including the real natural rate of interest, a slower sustainable pace of growth, and inflation all point to a new normal where interest rates are […]
If You Bought 30 Years Ago Today…
30 year ago today, traders were having a bad day: the Dow, S&P 500, FTSE, DAX and CAC fell -23%, -20%, -11%, -9% and -10% respectively. The FTSE fell a further 12% the day after, reflecting the difficulties in fully reopening the market after the great storm a few days before. The day would eventually become […]
Conference Board Leading Economic Index: First Decline In Over A Year
The latest Conference Board Leading Economic Index (LEI) for September decreased to 128.6 from 128.8 in August and saw its first decline in over a year, partially due to the impact of the hurricanes. The Coincident Economic Index (CEI) came in at 115.7, up fractionally from the previous month. The Conference Board LEI for the U.S. declined […]
How Gold Bullion Protects From Conflict And War
Gold and silver’s historical role in conflict shaped the world today and the modern financial system Gold played an important function in the great conflicts up to and throughout the 20th century Gold and the effective use of bullion played a crucial role in the outcome of the American Civil War Gold was an important economic […]
AUDUSD Intra Day Elliott Wave Analysis
AUDUSD short-term Elliott Wave view suggests that Primary wave ((W)) ended at 0.7731 on October 6th low. Up from there, Primary wave ((X)) is currently unfolding as a double three Elliott Wave structure. Intermediate Wave (W) of ((X)) ended at 0.7807 and Intermediate wave (X) of ((X)) ended at 0.7815. On the near-term, while pullbacks stay […]
Initial Jobless Claims Crash To Lowest Since 1973
So much for the hurricane distortions of the US labor market… Just a few short weeks after initial unemployment claims jumped in the aftermath of Hurricanes Harvey and Irma, in the latest week the DOL reported that filings for unemployment benefits tumbled to the lowest level in 45 years, or since 1973, as all those workers […]
BNY Mellon (BK) Beats On Q3 Earnings As Revenues Improve
The Bank of New York Mellon Corporation’s (BK – Free Report) third-quarter 2017 earnings per share of 94 cents surpassed the Zacks Consensus Estimate of 93 cents. The figure also came in 4.4% higher than the prior-year quarter tally. Results benefited from an improvement in both net interest revenues and fee revenues. Also, assets under management (AUM) […]
E Book Review: Deep Risk
It’s not often that you read a book by mistake. While browsing the Kindle store, I thought I’d stumbled upon a new book by Peter L. Bernstein. Some time ago, I had really enjoyed his book, Against The Gods; the remarkable story of risk. I was initially confused and then realized I was instead looking […]
Governments Crack Down On Cryprocurrencies
It’s been a very volatile ride for holders of Bitcoin recently. Bitcoin’s value right now is about four and half times as much as an ounce of gold. Back in 2013 enthusiasts were lucky to see bitcoin top $100. By the end of that year it was over $1000. In the beginning of this year, […]
