Category Archive: Finance
Special Update: Live From Houston
Hurricane Harvey is not over yet. It made landfall on Friday night, and almost no one cared. We had rain. Big deal. Then more rain on Saturday as the storm sat, almost stationary. Harvey lost power and was demoted to a tropical storm. We went out to dinner, noting the water was over the […]
Forex Critical: Turkish Lira Confirms Momentum Against The U.S. Dollar
The Turkish lira was one of the biggest beneficiaries of the renewed weakness of the U.S. dollar (DXY0) in the wake of Jackson Hole on Friday. USD/TRY closed at a new low for 2017. In fact, USD/TRY has not traded this low since early December, 2016. The Turkish lira versus the U.S. dollar reached a new […]
SPY Tests Previous High
Last Friday, SPY tested the previous high of last Tuesday on higher volume and suggests Friday’s high will be at least tested if not exceeded and keeps the door open for a rally this week. It is said that the VIX leads the way for the SPY in the opposite direction. Last week the VIX made […]
Food Fight: Amazon Slashes Prices At Whole Foods Up To 43% – Clear Winner?
The Fed, struggling to incite inflation, is no doubt annoyed at Amazon today. Bloomberg reports Amazon Cuts Whole Foods Prices as Much as 43% on First Day. Amazon.com Inc. spent its first day as the owner of a brick-and-mortar grocery chain cutting prices at Whole Foods Market as much as 43 percent. At the store on […]
Gilead Sciences Takes First Step Towards Higher Valuation Multiple
It has been a tough couple of years for shareholders of Gilead Sciences (GILDGILD), the leader in treating HIV and Hepatitis C, or HCV. After shocking the biotechnology world by buying little known Pharmasset in 2011 for $11 billion, which gave them what would be become the leading HCV treatment, Gilead’s stock soared as Sovaldi (and […]
A Convenient Truth
There’s been a lot of fretting and sweating over oil prices lately. Concern about the petroleum sector heightened even more as Hurricane Harvey bore down on oil rigs and refineries in the Gulf Coast region. The spot price for a barrel of West Texas Intermediate (WTI) crude has been fibrillating in the $47 – $49 […]
Primary Dealer Bid Surges In Poor 2Y Auction
While the high yield of the just priced 2Y auction came “on the screws” at 1.345%, below last month’s 1.401%, but above the six previous auction average of 1.305%. and exactly where the When Issued suggested today’s auction of $26 billion in 2Y notes would price, the internals were decidedly weaker than the stop out […]
FX Markets Turns To Euro-Zone Inflation, Canadian GDP, US NFPs
Talking Points: – The economic calendar is heavier this week, particularly for the US Dollar which will see the always-important US labor market report on Friday. – UK data take a backseat to their Euro-Zone counterparts in the days ahead; Euro-Zone inflation figures on Wednesday will draw attention. – Asia-Pacific region rather quiet this week, […]
Wall Street Cries Wolf On Stocks – Economy
There is no question that the stock market is richly valued and the economic expansion since the 2008 mortgage debt panic has endured far longer than normal cycles. Recent pessimism has arisen with major banks and analysts warning that the sky may start falling soon. Increased negative forecasts can be a positive contrary opinion signal, so […]
Is The Stock Market Really Overvalued?
All we have been hearing since 2011 is how the stock market is going to crash and then there will be hyperinflation and all sorts of strange relationships that never materialize. They simply focus on the level of the stock market in nominal terms without adjusting it for inflation or showing how it has performed […]
