Buying Illinois Debt – Bold Or Bad?
The Illinois debt saga continues. The state operated without a budget since 2015. In June, just before their fiscal year end, both S&P and Moody’s downgraded Illinois’ credit rating to one level above “junk bond” status. Moody’s said: “Legislative gridlock has sidetracked efforts not only to address pension needs but also to achieve fiscal balance, allowing […]
Asian Shares Fly High On Thursday
Asian shares hovered near decade highs on Thursday morning, supported by strong U.S. corporate earnings and optimism about Japanese and European central bank meetings later today. The Bank of Japan is expected to end its two-day policy meeting with an intention to cut its inflation forecasts again and to project a delayed cutback of its […]
Yield Curve Not Suggesting Imminent Market Peak, Recession
One of the most frequently cited predictors of a recession is when short-term interest rates rise above long-term interest rates. This is referred to as an “inversion of the yield curve” and typically happens when bond investors have a negative outlook on the economy. If you’re not familiar with the basics of the yield curve, […]
AUD/USD Teases Towards 0.80 On Ok Jobs Report
Australia gained jobs once again: 14K in June, in line with expectations for around 15K. The previous figure was revised down from 42K to 38K. The unemployment rate stood at 5.6% as expected. What kind of jobs were gained? Here there is better news: 62K gains of full-time jobs mitigated a drop of no less […]
Sensex Trades Marginally Higher – Realty Stocks Witness Buying
Stock markets in India are presently trading marginally higher. Sectoral indices are trading on a mixed note with stocks in the banking sector and realty sector witnessing maximum buying interest. The BSE Sensex is trading up 29 points (up 0.1%) and the NSE Nifty is trading up 5 points (up 0.1%). The BSE Mid Cap index is trading down by 0.1%, while the BSE Small Cap index is […]
Gold Snaps Three-Day Winning Streak
Gold prices ended Wednesday’s session down $2.32 as the dollar recovered some of its recent losses ahead of announcements from the Bank of Japan and the European Central Bank. Failing to sustain a push above the $1242 level also weighed on the market. It seems that investors don’t want to make large bets ahead of […]
AUD/USD Broke Above 0.7834 Resistance
AUD/USD recently broke above a major resistance at the April 2016 high of 0.7834, indicating that the sideways movement in the range between 0.7144 and 0.7834 is complete. The AUD/USD pair stays above a bullish trend line with support at 0.7635 on its daily chart and remains in the uptrend from 0.7328. As long as […]
EUR/USD Pullback To 1.15 Before Euro Zone Interest Rate Decision
EUR/USD 4 hour The EUR/USD retraces back to the broken resistance of 1.15 within the bullish trend which could turn out to become a support level. However, there is an interest rate decision today for the Euro zone by the European Central Bank (ECB) plus a follow-up press conference. These events will probably cause increased […]
Quads
Podcast: Play in new window | Play in new window (Duration: 13:15 — 7.6MB) DOW + 66 = 21,640 SPX + 13 = 2473 NAS + 40 = 6385 RUT + 14 = 1441 10 Y + .01 = 2.27% OIL + .69 = 47.09 GOLD – 1.00 = 1242.00 BITCOIN + 1.75% = 2334.63 USD ETHEREUM – 2.36% […]
E Soligenix: Biotech Company Chosen By Italian Hedge Fund BxWorld
Italian hedge fund BxWorld Fund has entered a position in Soligenix (Nasdaq: SNGX), a biotech company with some interesting products for the cure of cancer and a range of products against bioterrorism and radioactive warfare. Luca Fer, BxWorld’s fund manager, says: “We consider the company a target also for the USA government or some defense […]
