Treasury Sells 3-Month Bills At 0% Yield For First Time Ever
“Investors” are so desperate to hold on to short-term paper that they paid $100 for a 3-month Treasury-bill at today’s auction. That is a 0% yield – for the first time ever – lower even than the auction right after Lehman’s bankruptcy in Nov 2008. Chart: Bloomberg It is probably safe to say that NIRP next, […]
2 Brand New ETFs You Should Not Overlook
Stock markets around the world have been on a roller coaster ride over the past few weeks, thanks mainly to global growth worries and monetary policy uncertainty. However, the ETF industry continues to grow. Net inflows into US Exchange Traded Products (ETPs) reached US$127.5 billion in the first eight months of the year, 19% higher […]
S+P 500 Resistance Near By…
This morning we are seeing some follow through to Friday’s amazing reversal. However there is still some technical damage that was done during August’s sell off and it may take some time to work itself out. Click on picture to enlarge The next closest resistance level is between 1986-1990, these are the levels left behind […]
TPP Deal Struck, Next Hurdle Ratification
It took nearly eight years, but a dozen countries on both sides of the Pacific Rim, which account for 40% of the world’s GDP reached a trade agreement. Attention will now shift to the ratification process. Canada may offer the first challenge. National elections will be held October 19. The Conservative Prime Minister Harper […]
The Window Has Closed On The Fed
Earlier this year I wrote two articles about the Fed’s ability to hike interest rates this year. (see “Fed At Risk Of Missing Window To Hike Rates” and “The Window Continues To Close.”) In both articles, I discussed the biggest worry of the Federal Reserve, and frankly every Central Banker on the planet, was deflation. The problem […]
The Secular Advisor – October 5, 2015
Note: GDP data will be available later this week, therefore new quarterly asset class expectations and recommended allocations will be included in next week’s edition. Economic Summary Employment – just 142k non-farm jobs were added, 60k below estimates and much lower revisions, year over year trend: flat Housing – for the 5th month in a row, home […]
Part Deux – Shorting The Federal Reserve
The sequence of events leading up the French Revolution are likely unfamiliar to most. Yet money printing and a debauched French currency played no small part in those events. As a sequel to “Shorting the Federal Reserve”, 720 Global aims to provide an historical example of excessive money printing which lead to financial crisis, and […]
Treasury And Emerging Markets: 2 ETFs To Watch On Outsized Volume
In the last trading session, the U.S. stocks managed to hold onto gains in what was overall a rocky session. Notably, Dow Jones and the S&P 500 recorded their biggest intraday reversals in four years. Among the top ETFs, investors saw (SPY – ETF report) gain 1.5%, (DIA – ETF report) rise 1.3% and (QQQ – ETF report) move higher by […]
E One Year Of Oil Inventory Tracking: Much Of The Same
Approximately one year ago, I began publishing a series of articles on this site tracking oil inventories in an effort to aid understanding of why prices began to decline around that time. At the time, the media was consistently stating that there was an oversupply of oil in the United States but the actual numbers […]
Here’s How Much Manhattan Fell During The Great Depression
The richest people I know or meet always tell me the same thing: prime cities in the developed world simply can’t go down! New York, London, Paris, San Francisco, Vancouver, Singapore, Sydney – they’re all invincible! Or so these guys would have you believe. If there’s any two things history doesn’t support, it’s that the biggest cities […]
