Author Archive: Jeremy Parkinson
“Bad News Is Great Again” – Global Stocks Soar After Yellen Admits Global Economy Is Much Weaker
At the end of the day, it was all about the dollar. Starting March 18, the Bloomberg Dollar Spot had risen as much as 1.9% as Fed officials including Lacker, Williams and Bullard noted upside risks on rate-hike projection and suggested a rate hike may be imminent as soon as April. And then Yellen unleashed […]
The Fed Thinks It Can Raise Rates With All This Going On
You’d think with all the geopolitical crises and a weak world economy that market fear and volatility would be high. Instead, over the last month or so, we’ve seen a few fits and starts in the equity markets, but stock indices are still sitting close to all-time highs. When the Fed raised rates last December, […]
State Street Agrees To Acquire GE Asset Management For $485M
State Street agrees to acquire GE Asset Management for $485M State Street (STT) announced that it has agreed to acquire GE Asset Management, an asset manager from GE (GE). The transaction is expected to increase SSGA’s assets under management by approximately $100B upon closing and add new alternatives capabilities, while strengthening existing fundamental equity and […]
ADP NFP +200K – USD Slightly Stronger
200K private sector jobs were created in March, slightly better than expected. However, there was a downwards revision for February: 205K instead of 214K reported. The dollar is marginally stronger. The ADP Non-Farm Payrolls report was expected to show a gain of 194K private sector positions in March, slightly under the 214K seen in February (before revisions). […]
EC The Effect Of Exchange Rate Shocks On Domestic Prices
Written by Mary Amiti, Oleg Itskhoki, and Jozef Konings from Liberty Street Economics Changes in exchange rates directly affect import prices. Since the beginning of 2014, the U.S. dollar has strengthened by 17 percent against the currencies of its major trading partners while import prices have fallen by 4 percent. The pass-through from exchange rates into […]
The Stock Whisper Of The Day: SPY, AKS, EWZ
Hot stocks of the day: SPY, AKS, EWZ Video length: 00:5:53
After Yellen, The US Dollar May Be In Serious Trouble
If the Federal Reserve’s March policy meeting wasn’t a big enough hint in its own right, then yesterday’s speech by Fed Chair Janet Yellen should have gotten the message across loud and clear: the Fed’s rate liftoff will be gradual, and that accommodative monetary policy remains in place. Markets have certainly gotten the message. While some non-voting FOMC members […]
March 2016 ADP Job Growth At 200,000 – At Expectations
ADP reported non-farm private jobs growth at 200,000. The rolling averages of year-over-year jobs growth rate remains strong but the rate of growth continues in a downtrend (although unchanged this month). The market expected 165,000 to 225,000 (consensus 203,000) versus the 200,000 reported. These numbers are all seasonally adjusted; In Econintersect‘s March 2016 economic forecast released […]
Sector ETFs To Buy If Crude Slump Persists
The relief of above-$40 oil, felt in mid March, was short-lived as oil has returned to the declining trail once again. Yes, the possibility of a rebalancing of the oil market in the wake of the potential output freeze deal by major producers spread optimism in the oil patch; but the double whammy of a […]
Today’s Trading Plan: Keeping It Dovish
Technical Outlook: SPX had a solid day yesterday following dovish remarks about future rate increases from Janet Yellen. Her dovish outlook as it pertains to rate hikes has been, in large part, the reason for the massive rally off of the February lows. Volume yesterday on the SPY was notably higher than recent days, but […]
