How Does U.S. Income Inequality Compare Worldwide?
from the St Louis Fed — this post authored by Ana Maria Santacreu and Heting Zhu Rich countries tend to have lower income inequality than developing countries. The figure below shows a negative relationship between the level of income per capita (which is a measure of technological progress) and the Gini coefficient of income (which is a […]
Whatever It Takes Again
Saudi Arabia said they will do whatever it takes to balance the oil market, again. Yet this time the market, unlike the last time, believes them as OPEC and their compliance has earned some market cred. Oil prices which were floundering lower overnight reversed course and surged higher after Saudi Energy Minster Khalid A. Al-Fali […]
EUR/USD: Correction To 1.1800 In The Works
Previous: On Monday the 23rd of October, trading on the euro/dollar pair closed down. The rate dropped to 1.1725 during trading in Chicago. The euro fell on the back of a rising dollar and the Catalonian crisis. The main driver for the dollar was the optimism surrounding tax reform in the US as well as Donald […]
What Sell-Off: Futures Rebound, Nikkei Extends Record Winning Streak
European shares are modestly lower as investors monitor tense events in Spain and as focus turns to Thursday’s ECB meeting; US equity futures have rebounded from yesterday’s sharp but shallow sell-off and are in the green amid rising odds of U.S. tax reform and the imminent unveiling of the next Fed chair while Asian shares […]
Criteo Downgraded To Sector Weight From Overweight At KeyBanc
KeyBanc analyst Andy Hargreaves downgraded Criteo (CRTO) to Sector Weight saying the intelligent tracking prevention in Apple’s (AAPL) new operating system appears likely to have a larger impact on the company’s revenue than he previously expected. Criteo’s workaround, while effective at tracking retail behavior, appears to be less than 50% effective at matching users on […]
Fundamentally Speaking: Markets Being Driven By Fundamentals?
This past weekend, I discussed how the current rally since the election has been based on “hopes” for tax cuts and tax reforms as there was little evidence currently to suggest it was based on fundamental underpinnings. To wit: “Do not be mistaken, this ‘rally’ IS all about tax cuts. Despite many who are suggesting this has been a ‘rational rise’ […]
German Manufacturing Sector Sustains Growth
The European largest economy, Germany, continued to grow in October even as Spain-Catalonia political unrest deepened in the region. According to the IHS Markit report, Manufacturing Purchasing Managers Index expanded 60.5 in October, slightly below the 60.4 recorded in September but higher than the 60.2 predicted by experts. Reading above 50 indicates expansion and vice […]
Dollar Treads Water As 10-year Yield Knocks On 2.40%
The US dollar is narrowly mixed in mostly uneventful turnover in the foreign exchange market. There is a palpable sense of anticipation. Anticipation for the ECB meeting on Thursday, which is expected to see a six or nine-month extension of asset purchases at a pace half of the current 60 bln a month. Anticipation of the new Fed Chair, […]
US Business Cycle Risk Report | 24 October 2017
US economic activity has slowed recently, but the downshift still leaves the economic trend humming at a respectable pace, based on a broad set of indicators published to date. Blowback from the recent hurricanes continue to weigh on the numbers, according to analysts. “Hurricanes Harvey and Irma have distorted many of the economic data releases, […]
USD/JPY Daily Analysis – Tuesday, October 24
USD/JPY stays above a rising trend line on the 4-hour chart and remains in the uptrend from 111.65. As long as the price is above the trend line, the fall from 114.09 could be treated as consolidation of the uptrend. A further rise towards 114.50 is still possible after the consolidation. The rising trend line […]
