Another Day, Another V-Shaped Panic-Buying Spree In Crude Oil
Supposedly catalyzed this time by EIA forecast production cuts, WTI crude has spiked off an early tumble for the 3rd day in a row, running stops above $45. It appears the algos missed the fact that EIA also cut its price forecasts for the next two years, cut demand growth estimates, and confirmed OPEC production is higher […]
What I’ve Learned About Bear Markets
As you are likely aware, I’ve been at this game for a fair amount of time now. Starting in the financial services business straight out of college in 1980, I began gravitating toward the stock market and by 1987 my colleagues and I were managing “OPM” (other people’s money) on a discretionary basis. As such, […]
June 2017 Small Business Optimism Fades In June
from the National Federation of Independent Business Business owners’ expectations for better business conditions tumbled in June along with plans to create jobs according to monthly Index of Small Business Optimism. [editor’s note: Market expectation from Bloomberg / Econoday was between 104.0 to 106.9 (consensus 104.5) versus the actual reading of 103.6.] Said NFIB President and CEO Juanita Duggan: […]
Wholesale Sales -0.5% Inventories +0.4%
Perhaps there will be an inventory build for the quarter after all because the build in wholesale inventories is not matched by reported sales. Wholesale Inventories The Census Bureau revised April from -0.5% to -0.4%. Thus, for the quarter so far, inventories are flat. Sales are another matter. Sales and Inventories by Category Petroleum is the big driver […]
Wholesale: No Acceleration, No Liquidation
In the same way as durable goods orders and US imports, wholesale sales in May 2017 were up somewhat unadjusted but down for the third straight month according the seasonally-adjusted series. As with those other two, the difference is one of timing. In other words, combining the two sets, seasonal and not, we are left to interpret a […]
Another Bullion Flash Crash
Last week, silver plunged over 10 percent in less than a minute. What does it mean for the precious metals market? As one can see in the chart below, the price of silver collapsed $1.3 from about $16 to about $14.7 in early Friday’s Asian trading, as more than 25 million ounces of silver traded […]
Three Strong Buy Thrivent Mutual Funds For Best Returns
Being part of Thrivent Financial, Thrivent Mutual Funds has $15 billion worth of assets under management. It has invested in 23 mutual funds across a wide range of categories including equity, income plus, asset allocation and fixed income funds. Also, it serves more than two million customers and has at least 100 investment professionals. Below […]
Thoughts On The US Policy Mix
The best policy mix for a currency is an expansionary fiscal policy and less accommodative monetary policy. It is the US policy mix of the Reagan-Volcker era of the early 1980s. It was the German policy mix after the Berlin Wall fell. It is as if the government has its foot on the accelerator and the […]
Look! More FX Shenanigans In China
If you’ve been following along over the past two months, you know China is engaged in an ongoing struggle to combat downward pressure on the yuan. The PBoC engineered a hilarious short squeeze in late May/ early June in an effort to reverse a trend that saw the onshore spot consistently closing at a discount […]
Billion Dollar Unicorns: Katerra Tackles The Construction Industry With Technology
The construction sector is one of the largest in the world economy, with about $10 trillion spent on construction-related goods and services every year. However, according to a recent report from McKinsey Global Institute, the industry’s productivity has trailed that of other sectors for decades, and there is a $1.6 trillion opportunity to close the gap. Katerra is […]
