EU-US 2-Yr Spread Lagging Rally In EUR/USD
If you consider what ECB President Draghi said, which sounded quite dovish, it doesn’t match with the sharp rally in euro. Is this move just about portfolio flow into equities (i.e. buy euro to invest in EU markets) as it seems the institutional guys are loving EU equities given the continued expectation of quantitative easing? […]
ECRI Weekly Leading Index: “All Signs Point To A Cyclical Slowdown In Inflation”
Today’s release of the publicly available data from ECRI puts its Weekly Leading Index (WLI) at 144.8, up from the previous week. Year-over-year the four-week moving average of the indicator is now at 4.99%, down from 5.12% last week. The WLI Growth indicator is now at 2.6, up from the previous week. “All Signs Point […]
Colgate Dips Despite In-Line Q2 Earnings, Sales Lag
Colgate-Palmolive Co. (CL – Free Report) posted adjusted earnings of 72 cents a share, in line with the Zacks Consensus Estimate and up 3% from 70 cents earned in the prior-year quarter. Visualization by Graphiq Including one-time items, earnings came in at 59 cents a share compared with 67 cents reported in the year-ago period. Despite earnings beat, […]
Money Supply Growth Falls Again, Dropping To 105-Month Low
Growth in the supply of US dollars fell again in May, this time to a 105-month low of 5.4 percent. The last time the money supply grew at a smaller rate was during September 2008 — at a rate of 5.2 percent. The money-supply metric used here — an “Austrian money supply” measure — is the metric […]
WTI Tumbles Towards $45 Handle After Tanker-Tracker Signals OPEC Supply At 2017 Highs
Despite the ‘bullish’ inventory data (and demand), WTI Crude just sank towards a $45 handle – red on the week – as tanker-tracking firm Petro-Logistics signals OPEC crude supply rising again this month will be the highest this year (along with US shale output at record highs). As Bloomberg notes, supply from OPEC members is set to exceed 33 […]
Gold Hedges Against Currency Devaluation And Cost Of Fuel, Food, Beer And Housing
– Gold hedge against currency devaluation – cost of fuel, food, housing – True inflation figures reflect impact on household spending – Household items climbed by average 964% – Pint of beer sees biggest increase in basket of goods – rise of 2464% – Bread rises 836%, butter by 1023% and fuel (diesel) up by 1375% […]
New Stocks On Exec Comp & ROIC Model Portfolio: July 2017
Photo Credit: Keith Cooper (Flickr) One new stock makes July’s Exec Comp Aligned With ROIC Model Portfolio, which was made available to members on 7/13/17. Recap from June’s Picks Our Exec Comp Aligned With ROIC Model Portfolio (-3.1%) underperformed the S&P 500 (-0.3%) last month. The best performing stock in the portfolio was Insteel Industries (IIIN), […]
EC Amazon And Kenmore: A Mismatch Made In Desperation
For years I have wondered why Sears (SHLD) chose not to sell Craftsman tools on Amazon’s (AMZN) web site. It just seemed like an obvious move to monetize a brand name they owned, given that their own stores are slowly disappearing due to customer disinterest. Earlier this year Sears sold the brand to Stanley Black […]
Irrational Optimism
In the months following the election, we saw optimism surge higher in a number of prominent indicators… Homebuilder sentiment hit an 11-year high. Small Business optimism hit a 12-year high. Consumer confidence hit a 13-year high. Philadelphia Fed Manufacturing survey hit a 33-year high. The thinking was as follows: a new era of higher economic […]
DXY Elliott Wave View: Resuming Downside
Revised short term DXY (USD Index) Elliott Wave view suggests the decline from 6/20 peak (97.87) is unfolding as a double three Elliott wave structure. Down from 97.87 high, decline to 95.47 ended Minor wave W, and bounce to 96.51 high ended Minor wave X. Wave Y is unfolding as another double three Elliott wave structure of a smaller degree where […]
