Junk Bonds Are Finally Starting To Care About Oil
Back in May, we pointed out an interesting observation made by Goldman: unlike late 2015 and most of 2016, when equities demonstrated surprising resilience to the swoon in oil prices, in 2017 OPEC’s failure to stabilize oil prices finally hit energy equities disproportionately. As Goldman said in mid-May, discussing the latest crude oil sell-off, which has been “even more […]
USD At New Lows As EUR Hits 2-year High; CAD In Spotlight
Video length: 00:11:42 The US Dollar has sunk into its lowest levels since August 2016 as the Euro surge following the European Central Bank rate decision yesterday has continued. With the Euro now at a two-year high versus the US Dollar, the DXY Index (being comprised of 57.6% Euro) has been punished. The market reaction […]
Moody’s Corporation, General Electric Company Q2 2017 Earnings
The General Electric Q2 2017 earnings and Moody’s Q2 2017 earnings reports were released before opening bell this morning. GE posted adjusted earnings of 28 cents per share on $29.56 billion in revenue, compared to the consensus estimates of 25 cent per share on $29.14 billion in revenue. In last year’s second quarter. The company […]
Here’s A Market That’s ‘Unambiguously Stretched’
Regular readers know that we, much like at least one or two credit strategists we’ve spoken with at one of the major banks, believe that when it comes to Teflon assets, credit has in fact been the poster child for resilience. Sure, vol. is low across the board, but the extent to which spreads have […]
10 Low PE Stock Picks For The Enterprising Investor – July 2017
There are a number of great companies in the market today. By using the ModernGraham Valuation Model, I’ve selected 10 low PE stocks for the Enterprising Investor. These companies have the lowest PEmg (price / normalized earnings) ratio out of all companies reviewed by ModernGraham. Each company has been determined to be suitable for the Enterprising Investor […]
Russia Is All The Rage
For oil and the markets, Russia is all the rage. There is the big OPEC/non-OPEC pow-wow in Russia and reports that Special Prosecutor Robert Mueller is opening an investigation into President Donald Trump’s business transactions with Russia one day after the President said that that would be a red-line for him. Of course Robert Mueller […]
Dollar Continues Downward Slide
The dollar weakened further early Friday morning with no end to the spiral in sight after European Central Bank President Mario Draghi making comments on Thursday afternoon that sent the common currency to near two-year highs against the greenback.The dollar is now 10 percent down against the euro since the start of 2017. The dollar’s […]
Post-BoC Canadian Dollar Rally Vulnerable To Softening CPI
– Canada Consumer Price Index (CPI) to Slow for Second Month in June. – Core Inflation to Hold Steady at Annualized 1.3% for Six Consecutive Months. – Retail Crowd Remain Stubbornly Net-Long USD/CAD Since June 7, When It Traded Near 1.3481. Trading the News: Canada Consumer Price Index (CPI) Another slowdown in Canada’s Consumer Price Index (CPI) may tame the […]
Rail Week Ending 15 July 2017: Economic Intuitive Slowing Continues
Week 28 of 2017 shows same week total rail traffic (from same week one year ago) improved according to the Association of American Railroads (AAR) traffic data. The economically intuitive sectors slowing continues. Analyst Opinion of the Rail Data We review this data set to understand the economy. If coal and grain are removed from the analysis, rail over […]
EUR/USD: Draghi And Trump Sink The Dollar
Yesterday, trading on the euro/dollar pair closed up. By the end of the day, the euro had appreciated by 115 pips against the dollar, reaching 1.1630. The rate had dropped to 1.1479 before Mario Draghi’s press conference. The European Central Bank decided to maintain rates at their current levels. The base rate remains at zero, […]
