Dollar Technicals Trying To Turn
The US dollar turned in a mixed performance last week, as yields stabilized. However, the technical condition still has not turned convincingly in the dollar’s favor against most of the major foreign currencies. On the other hand, our fundamental conviction that the divergence theme remains intact and is the underlying driver continues to inform our constructive outlook. […]
Why “Nothing Matters”: Central Banks Have Bought A Record $1 Trillion In Assets In 2017
A quick, if familiar, observation to start the day courtesy of Bank of America which in the latest overnight note from Michael Hartnett notes that central banks (ECB & BoJ) have bought $1 trillion of financial assets just in the first four months of 2017, which amounts to $3.6 trillion annualized, “the largest CB buying on record.” […]
The Disintegrating Energy Sector Will Make The Entire System Grind To A Halt
Very few Americans realize that the disintegrating energy industry will make the entire economy and market grind to a halt. This won’t happen overnight, but if we look at history over several decades or a century, it will have fallen apart rather quickly. Unfortunately, there is nothing we can do about it because the time to […]
EC Cracks In Ponzi-Finance Land
Retail Debt Debacles The retail sector has replaced the oil sector in a sense, and not in a good way. It is the sector that is most likely to see a large surge in bankruptcies this year. Junk bonds issued by retailers are performing dismally, and within the group the bonds of companies that were […]
DAX As Of April 21
Only a fall below 11.850 will flash a yellow alert to this market. I see stops being there so a test of this area in the next sessions is on the table source: INVESTING.COM
EC You Are Not An Investor
Giotto, Legend of St Francis, Exorcism of the Demons at Arezzo c.1297-1299 You are not an investor. One can only be an investor in functioning markets. There have been no functioning markets since at least 2008, and probably much longer. That’s when central banks started purchasing financial assets, for real, which means that is also […]
How The Recent Executive Order Could Change The US Commodity Sector
Last week, a request from the Uranium Producers of America (‘UPA’) grabbed the headlines, as the organization was asking the US Department of Energy (DOE) to suspend the sale of (physical) uranium on the spot market. The UPA correctly described the status of the US based Uranium producers as ‘fragile’, and it’s pretty clear the […]
Oil’s Near-6% Drop May Pave The Path For Improving Fundamentals
Fundamental Forecast forUSOIL: Neutral Talking Points: North American Oil Production at highest output levels since August 2015, per EIA Crude Oil Price Forecast: Downside Stalls on OPEC Favoring Extension Sentiment showing retail traders flipped to net-long favoring ST downside per contrarian effect Baker Hughes Rig Count Rises 5 Total to 688, 1 Added In Permian, […]
Trader: Don’t Let Those Darn French People Ruin Your Weekend
Former FX trader Mark Cudmore seems like a really affable guy (bless his heart). Definitely not the “Debbie Downer” type. He’s variously described himself as a “permabull” which is why, earlier this year, we thought maybe it was time to ring the alarm bells when he got “worried” about US equities in late January. But […]
E Despite Privacy Issues, Here’s Why I Still Like Facebook
As a social media company Facebook (FB) has a lot of spotlights shown on it whether for good or for bad. But as a part of everyone’s daily life the company realizes that it is a big part of society and can be pulled into civil situations which it never intended to enter because of […]
