Author Archive: Jeremy Parkinson

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                        A Cabal Of Central Bankers

E A Cabal Of Central Bankers

What would happen ‘if’ a cabal of central bankers secretly agreed at G20 / Shanghai, to debase both currencies and keep rates low, so as to lift (or sustain) financial assets near or at high levels?  That’s a concern the markets face in a two-way dilemma. One aspect is of course the realization that slow […]
GBPUSD: Targets Further Downside Pressure

GBPUSD: Targets Further Downside Pressure

GBPUSD: Having the pair weakened on Monday, further bear pressure should follow. On the downside, support lies at the 1.4300 level where a break will turn attention to the 1.4250 level. Further down, support lies at the 1.4200 level. Below here will set the stage for more weakness towards the 1.4150 level. Its daily RSI […]
The Great Inflation-Unemployment Trade-Off Stupidity

The Great Inflation-Unemployment Trade-Off Stupidity

The 15th March Financial Times article that I rubbished in a blog post last week contained the comment: “the 1970s ‘Phillips Curve’ trade-off between unemployment and inflation is alive and well“. Unbeknownst to me at the time, since I never tune in to Federal Reserve press events, Fed chief Janet Yellen said almost exactly the same thing […]
Janet Yellen: Monetary Arsonist—Armed, Dangerous And Lost

Janet Yellen: Monetary Arsonist—Armed, Dangerous And Lost

Simple Janet should have the decency to resign. The Fed’s craven decision last week to punt on interest rate normalization is not merely a reminder that she is clueless and gutless; we already knew that much. Given the overwhelming facts on the ground—4.9% unemployment, 2.3% core CPI and a 23.7X PE multiple on the S&P 500—her decision to “pause” after 87 […]
Brown & Brown – Chart Of The Day

Brown & Brown – Chart Of The Day

The Chart of the Day belongs to Brown & Brown (NYSE: BRO). I found the insurance brokerage by using Barchart to sort today’s All Time High list first for the highest number of new highs in the last month, then again for technical buy signals of 80% or better. I always review the charts using the Flipchart feature. Since the Trend Spotter […]
The Convertible Bond Trifecta

The Convertible Bond Trifecta

Convertible securities have not been immune from the volatility that has roiled risk assets in 2016. However, we believe the volatile start to the year has set the stage for longer-term opportunities. A convertible bond can be thought of as a corporate bond (credit) with an embedded call option (equity). (For a primer on convertible […]
Binary Options Trading Opportunities – March 22, 2016

Binary Options Trading Opportunities – March 22, 2016

Tuesday will be a handful of announcements coming out of the European Union, and that of course can have an effect on both the Euro and the European indices. At this point, we believe that most traders will be of the shorter-term variety. DAX struggles The DAX struggles yet again at the €10,000 level, and […]
Rising Yen As Rising Dollar Only With A Weaker Dollar Shown Via That Stronger Yen

Rising Yen As Rising Dollar Only With A Weaker Dollar Shown Via That Stronger Yen

Oil prices remain ebullient, relatively, compared to the dismal start to the year. Everything else, it seems, is driven by that background which means “dollar.” In that respect, we look to China or at least the Asian version of the “dollar” for guidance on triangulating funding conditions and future potential positioning. The CNY exchange is […]
Is Apparel The Canary In The Coal Mine?

Is Apparel The Canary In The Coal Mine?

Last week, one of the curious parts of the CPI report was the large jump (1.6% month/month, or nearly 20% annualized) in Apparel. At the time, I dismissed this rise with a hand-wave, pointing out that it Apparel is only 4% of core and so I don’t worry as much about Apparel as I do, […]
Market Talk March 21, 2016

Market Talk March 21, 2016

With Japan on national holidays it was left to Shanghai and Hang Seng to show the rest of the world the way forward. With the help of the PBOC, adding ample liquidity and fixing the Yuan rate at 6.4824 (compared to 6.4628 on Friday) stocks saw a healthy 2%+ gain for the day. HSI closed marginally firmer. In […]