30Y Treasury Yield Tumbles, Signals Trouble Ahead For Banks
Safe haven buying is ignoring precious metals and piling into bonds today with the long-end notably outperforming (-6bps) today. This has compressed the yield curve even more, putting more and more pressure on the “rate-hike environment” hopers who bought banks like they were told… This has compressed 2s30s below the “Dimon Bottom” As Crispin Odey warned, “[The Fed] […]
Relative Low Volume Profit Taking
It was no surprise to see profit takers sweep in and take money off the table. There was relative distribution in the S&P, although overall volume was well down on recent buying. Technicals for Large Caps remain net positive and relative performance has returned in Large Caps favour. The Nasdaq also suffered distributive losses, but […]
Currency Market Report – March 23, 2016
Ira Epstein leads us through the day’s currency highlights. Video Length: 00:09:45
My New Favorite Indicator
Many of you know that, for quite a long time, I had a childish tantrum against fellow blogger Northman since, long ago, he managed to hurt my feelings (which, experience has shown, is easier to do than shooting fish in a barrel; I’m a sensitive soul). We buried the hatchet a while ago, and we’ve been having […]
Canadian Banking Regulators Sound The Alarm
The shouts of warning are finally starting to come out from official bodies. Since the collapse of the oil and gas market, we have been writing about the fact that we haven’t seen the worst yet. As I have previously written, Canada and Russia are two countries that have been absolutely devastated by the crashing […]
The Truth About BitGold
In this podcast I address criticism of my recent article exposing the high cost of buying and taking physical deliver of gold coins from BitGold. My critics have ignored the disturbing facts that I revealed, and instead have erected straw men and resorted to ad hominem attacks. Here is a link to my article: BitGold’s Secret: […]
Oil Patch Bankruptcies Hit $17.4 Billion
Nine North American oil and gas producers have commenced Chapter 11 bankruptcy proceedings so far this year, (to March 7) according to law firm Haynes and Boone LP’s Oil Patch Bankruptcy Monitor . These nine oil patch bankruptcies take the total number of North American oil and gas producers that have filed for bankruptcy since the beginning of 2015 […]
ECB, Corporate Bonds, And Credibility
The euro’s rallied shortly after the ECB announced numerous monetary measures that in their totality were more than expected. Many saw this as proof that monetary policy had lost its effectiveness, and central banks have lost credibility. Recall summer of 2012. The market anticipated another round of asset purchases by the Federal Reserve. The […]
EIA Inventory Report Analysis – March 23, 2016
Imports this past week was the main culprit for the large inventory build in oil. Video Length: 00:10:25
Only One Oil Fundamental Factor
The fundamentals for crude oil continue to be atrocious. Production remains relatively stable if slightly reduced, which is about the only factor in favor of oil prices since the February 11 low. On the other side of the ledger, you don’t hear as much about how it’s all oil supply anymore other than the occasional […]
