Category Archive: Finance
Market Talk – Tuesday, Sept. 5
The uncertainty continued from the US back into Asia this morning resulting in more Asian selling. Although core Chinese markets are light on volume, the concerns of sudden price discovery is the fear running through all emerging markets. We saw a flicker of this today when the Shanghai declined over 1.7%, but the Hang Seng […]
Bullseye!
According to Federal Reserve Chair Jerome Powell, the U.S. economy is doing just fine. And, because of fiscal stimulus, slowly rising incomes, and high levels of consumer and business confidence, Powell believes the current strength will persist. That’s some of what Powell said during his speech at the recent gathering of global economic and financial eggheads in Jackson Hole, […]
Stocks And Precious Metals Charts – We Are The Hollow Men
“Those who have crossed With direct eyes, to death’s other Kingdom Remember us—if at all—not as lost Violent souls, but only As the hollow men The stuffed men.” T. S. Eliot “I have been to many countries and seen much poverty and suffering.Everywhere I go people tell me of their hardships and struggles, and ask […]
“The Very Definition Of Contagion”: Catching Falling Knives In Emerging Markets
Don’t look now – or look – but while the US stock market trades just shy of all-time highs, absent the occasional hiccup in the mighty FANGs, the route across emerging markets is now the longest since the global financial crisis, or specifically 222 days for stocks, 155 days for currencies, and 240 days for local […]
The Three Largest Cryptocurrencies – Wednesday, Sept. 5
With so much focus on bitcoin lately, we’ve added a new weekly update that tracks the three largest cryptocurrencies by market share: bitcoin, Ether, and Ripple. According to Wikipedia, a cryptocurrency is “a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional […]
Beijing’s Three Options: Unemployment, Debt, Or Wealth Transfers
China’s debt problems have emerged so much more rapidly and severely this year than in the past that, combined with swirling rumors about the country’s leadership, a growing number of analysts believe that this may be the year that China’s economy breaks. As always, I am agnostic. There is no question that China will have […]
Bitcoin, Ether Blasted Goldman Postpones Plans For Crypto Trade Desk
After showing signs of stabilizing over the past couple of weeks, crypto assets are seeing sharp selloffs in today’s trade. The proximate catalyst for today’s big drop is a report that Goldman Sachs is pulling back on its plans to set up crypto trading desk, at least in the near term. The investment bank noted […]
FBI Probing American Express Forex Pricing, Stock Slides
The FBI has launched a probe into forex pricing practices inside American Express Co.’s foreign-exchange unit, the WSJ reports. The investigation, which is in its early stages, is being run out of the FBI’s Washington field office and is focused on whether the foreign-exchange international payments department misrepresented pricing to clients in order to win their […]
The Evolution Of The Labor Share Across Developed Countries
from the Cleveland Fed — this post authored by Roberto Pinheiro and Meifeng Yang In most developed countries, the share of output accruing to labor has declined over the last 20 years. However, the underlying reasons for the decrease may have differed in the United States and other developed countries. In this Commentary, we examine some of the […]
Bondholders Grow Increasingly Fearful About Turkey’s Banks
By Steven Levine Turkey’s banks have generally come under significant pressure and have spurred contagion to other parts of Europe, as the country battles a long list of adverse macro conditions. Bond investors in Turkish financial institutions have grown increasingly worried about the sustainability of several of the country’s banks’ ability to repay their debt. Over […]
