Protect Your Savings With Gold: ECB Propose End To Deposit Protection
Nov 14, 2017Jeremy Parkinson0
Protect Your Savings With Gold: ECB Propose End To Deposit Protection New ECB paper proposes ‘covered deposits’ should be replaced to allow for more flexibility Fear covered deposits may lead to a run on the banks Savers should be reminded that a bank’s word is never its bond and to reduce counterparty exposure Physical gold […]
Canadian Dollar Falls Out Of Favor
Nov 14, 2017Jeremy Parkinson0
Looking at the latest COT report, extremes this week include crude oil and a new bearish extreme in the Swiss Franc. While long Canadian dollars looked like an extreme position last week, this is no longer the case today. This is shown below: CFTC COT (futures & options combined) – November 7, 2017 Source: CFTC, […]
NFIB Small Business Survey: Index Inches Up In October
Nov 14, 2017Jeremy Parkinson0
The latest issue of the NFIB Small Business Economic Trends came out this morning. The headline number for October came in at 103.8, up 0.8 from the previous month. The index is at the 93rd percentile in this series. Today’s number came in below the Investing.com forecast of 104.2. Here is an excerpt from the opening summary of the […]
Different Worlds: OPEC And IEA
Nov 14, 2017Jeremy Parkinson0
It seems that OPEC and the International Energy Agency live in different worlds when it comes to projecting future energy demand. While OPEC in their monthly report expects to see a larger oil supply deficit in 2018, the International Energy Agency (IEA) sees the appetite and an oil market oversupplied in the first half of […]
Emerging Market Junk Debt Issuance Surges To New Record As The “Search For Yield” Intensifies
Nov 14, 2017Jeremy Parkinson0
It seems that the never-ending “thirst for yield” from the world’s massive pension funds, combined with the ever-present “cash on the sidelines” problem, is driving the creation of yet another global financial bubble in emerging market junk bonds. Alas, as the FT points out today, the world’s largest fixed-income investors can’t seem to get enough of the […]
EURUSD Strengthens, Targets The 1.1750/99 Zone
Nov 14, 2017Jeremy Parkinson0
With the EURUSD pair strengthening further on Tuesday, more gain is expected in the days ahead. Resistance comes in at 1.1750 level with a cut through here opening the door for more upside towards the 1.1800 level. Further up, resistance lies at the 1.1850 level where a break will expose the 1.1900 level. Its daily RSI […]
Sensex Finishes Lower On Inflation Worries; PSU & Energy Stocks Fall
Nov 14, 2017Jeremy Parkinson0
Indian share markets finished the trading day on a weak note after retail inflation picked up to a seven-month high in October. At the closing bell, the BSE Sensex closed lower by 92 points and the NSE Nifty finished down by 38 points. The S&P BSE Mid Cap finished down by 0.22% while S&P BSE Small Cap finished down by 0.18%. Losses were largely […]
Morning Call For Tuesday, Nov. 14
Nov 14, 2017Jeremy Parkinson0
OVERNIGHT MARKETS AND NEWS Dec E-mini S&Ps (ESZ17 -0.17%) this morning are down -0.09% and European stocks are down -0.17% on concern about slowing growth in China after China October industrial production rose less than expected and China October retail sales posted their slowest pace of increase in a year. Losses in European stocks were […]
US Trades At A 40% Premium To Asia Ex Japan, But EPS Growth Is Less Than Half
Nov 14, 2017Jeremy Parkinson0
In 2015, US traded at 1.4x the Asia ex Japan PE, it narrowed to 1.25x in 2016, and then back to 1.4x in 2017 EPS growth in 2017 is expected at 23.1% for Asia ex Japan versus 10.3% for the US Analysts expect this 40% PE premium for US to persist in 2018-2019, do YOU?
Economy And Monetary Policy Update
Nov 14, 2017Jeremy Parkinson0
Audio Length: 00:54:06 Alongside my co-host, Wharton School finance Professor Jeremy Siegel, I had the opportunity to speak with St. Louis Federal Reserve Bank President James Bullard on our “Behind the Markets” podcast. Bullard is renowned for being a flexible thinker. We’ve spoken to Bullard at times when he was perhaps the most hawkish member of […]