What UBS Tells Us About Credit Suisse, And What Both Suggest Of Economics
Credit Suisse released its annual report for 2015 today allowing us to update its progress through winding down its eurodollar activity exposures. As expected, the bank’s gross notional balance sheet offerings declined by quite a bit in Q4. Gross notional interest rate swaps fell by 15% from Q3 to just CHF 28.8 trillion, the largest […]
Huge Government Deficits Coming
If easy money has stopped working, then what’s left? Massive deficits, of course. Pressure is building on governments around the world to increase spending and pay for it with borrowed funds. Sound familiar? It should, since it’s what they’ve been doing on and off for decades. But this time, “fiscal stimulus” will, like QE and […]
Durable Goods Orders Plunge 2.8%; Will A Falling Dollar Soon Help?
In spite of alleged strength in several recent regional manufacturing reports, durable goods orders took another nosedive. As I have commented, there are lots of problems with small-sample diffusion reports that likely overstate the bounces we have seen. Today’s more sobering news is that durable goods orders are down 2.8%, pretty much in-line with the Econoday […]
HH Filling March Madness In ETF Brackets
The National Collegiate Athletic Association (NCAA) Men’s Division I Basketball Tournament kicked in last week, spreading excitement not only in the sports world but also fueling growth in various corners of the economy such as media, advertising, restaurants, hotels and airlines. As a result, the stock market performance is closely tied to the basketball frenzy […]
HH Ahead Of Easter, Markets Hop Like Bunnies
The market sell-off many had expected following the Brussels Airport terror bombing Tuesday didn’t occur til Wednesday, and now the S&P 500 has again swung to the negative year to date. Futures for the Dow, Nasdaq and S&P ahead of the bell this morning are also down this morning. So it’s less of a continued […]
FTSE 100 Volatility May Pick Up As Durable Goods Orders Are On Deck
Most stock markets are muted this morning and the FTSE 100 (FXCM: UK100) is no exception. Price is oscillating around the 6164 level as it has been doing since the start of the month. Today at 9:30 GMT, U.K. Retail Sales were seen to be increasing by 3.5% YoY according to the latest survey by Bloomberg. This […]
What To Look For When Trading The EUR/USD Currency Pair?
The EUR/USD currency pair showed signs of weakness overnight as the impact of the terror attacks weighed heavily on speculative sentiment. The greenback maintains its status as a safe haven currency in times of geopolitical turmoil, and this was evident when it rallied against the EUR to 1.1180 overnight. However, the EUR fought back and is slowly […]
“Worst May Be To Come” Services PMI Signals “Softest Expansion Of New Business Since 2009”
Having blamed the weather for the Services PMI collapse into contractionary levels in February, the very modesty rebound (from 49.7 to 51.0) is a big let down: “The lack of a strong rebound in service sector activity in March is a big disappointment, as bad weather had been blamed for part of the weakness in […]
Has GameStop Lost Its Luster?
Photo Credit: Mike Mozart GameStop Corp.(GME) Consumer Discretionary – Specialty Retail | Reports March 24, After Market Closes Key Takeaways The Estimize consensus is calling for EPS of $2.26 and revenue of $3.56 billion, 1 cent higher on the bottom line and right in line on the top line Shares received a nice boost last week after […]
3 Things: 80% Or Bust, Mind The Gap, It’s A Bunny
80% Or Bust Not surprisingly, the recent sharp reflexive rally has brought the bulls out in full force as noted by a recent comment on my post earlier this week on “4% From The Highs:” “…by the time you get confirmation with the long term indicators above, you will miss out on 20 to 30% of […]
