Author Archive: Jeremy Parkinson
June 2017 Small Business Optimism Fades In June
from the National Federation of Independent Business Business owners’ expectations for better business conditions tumbled in June along with plans to create jobs according to monthly Index of Small Business Optimism. [editor’s note: Market expectation from Bloomberg / Econoday was between 104.0 to 106.9 (consensus 104.5) versus the actual reading of 103.6.] Said NFIB President and CEO Juanita Duggan: […]
Wholesale Sales -0.5% Inventories +0.4%
Perhaps there will be an inventory build for the quarter after all because the build in wholesale inventories is not matched by reported sales. Wholesale Inventories The Census Bureau revised April from -0.5% to -0.4%. Thus, for the quarter so far, inventories are flat. Sales are another matter. Sales and Inventories by Category Petroleum is the big driver […]
Wholesale: No Acceleration, No Liquidation
In the same way as durable goods orders and US imports, wholesale sales in May 2017 were up somewhat unadjusted but down for the third straight month according the seasonally-adjusted series. As with those other two, the difference is one of timing. In other words, combining the two sets, seasonal and not, we are left to interpret a […]
Another Bullion Flash Crash
Last week, silver plunged over 10 percent in less than a minute. What does it mean for the precious metals market? As one can see in the chart below, the price of silver collapsed $1.3 from about $16 to about $14.7 in early Friday’s Asian trading, as more than 25 million ounces of silver traded […]
Three Strong Buy Thrivent Mutual Funds For Best Returns
Being part of Thrivent Financial, Thrivent Mutual Funds has $15 billion worth of assets under management. It has invested in 23 mutual funds across a wide range of categories including equity, income plus, asset allocation and fixed income funds. Also, it serves more than two million customers and has at least 100 investment professionals. Below […]
Thoughts On The US Policy Mix
The best policy mix for a currency is an expansionary fiscal policy and less accommodative monetary policy. It is the US policy mix of the Reagan-Volcker era of the early 1980s. It was the German policy mix after the Berlin Wall fell. It is as if the government has its foot on the accelerator and the […]
Look! More FX Shenanigans In China
If you’ve been following along over the past two months, you know China is engaged in an ongoing struggle to combat downward pressure on the yuan. The PBoC engineered a hilarious short squeeze in late May/ early June in an effort to reverse a trend that saw the onshore spot consistently closing at a discount […]
Billion Dollar Unicorns: Katerra Tackles The Construction Industry With Technology
The construction sector is one of the largest in the world economy, with about $10 trillion spent on construction-related goods and services every year. However, according to a recent report from McKinsey Global Institute, the industry’s productivity has trailed that of other sectors for decades, and there is a $1.6 trillion opportunity to close the gap. Katerra is […]
EUR/USD July Range At Risk As Fed Chair Yellen Testifies To Congress
Ticker Last High Low Daily Change (pip) Daily Range (pip) EUR/USD 1.1419 1.1425 1.1383 20 42 EUR/USD volatility may continue to dwindle ahead of the semi-annual Humphrey-Hawkins testimony, but the pair stands at risk of threatening the monthly opening range should fresh remarks from Fed Chair Janet Yellen shift market expectations. Chair Yellen may strike a hawkish […]
A Bull Era Tag Team
Most precious metal assets staged a solid “comeback rally” against government fiat yesterday. Double-click to enlarge this key GDX chart. There’s decent intermediate trend technical support in the $21 area. Hardcore accumulators can place buy orders for GDX in the $23 to $18 price zone. To understand why this is a good idea, please look […]
