Note from dshort: The NYSE has released new data for margin debt, now available through November. I’ve updated the charts in this commentary to include the latest numbers. The New York Stock Exchange publishes end-of-month data for margin debt on the NYXdata website, where we can also find historical data back to 1959. Let’s examine the numbers…
As November came to a close, the market rebound out of the October correction had not only reset over bearish sentiment, but had put it wildly bullish and very unhealthy. Yet the Santa seasonal was oncoming and something had to give. Santa’s rally was not going to generate from such unhealthy over bullish conditions. In NFTRH we…
In case anybody still believed we were doing ok on cybersecurity, Staples just announced that malware deployed at 115 of its stores nationwide gave hackers access to some 1.16 million customers’ payment cards. If news of a Staples hack sounds familiar, that’s because it is. Back in October, the company revealed that it was investigating…
Previous week’s stock action saw shares of OvaScience, Inc. (OVAS) soar nearly 23.2%, or $8.13, following corporate news that the company fully accomplished its 2014 clinical goals. Shares of the Cambridge-based company closed on Thursday at $43.09 with more than 1.9 million shares trading hands. This compares to the company’s three-month average volume of nearly 200,000 shares. The chart…
OVERNIGHT MARKETS AND NEWS March E-mini S&Ps (ESH15 +0.23%) this morning are up +0.28% and European stocks are up +0.84% as energy producers rose after the price of crude oil stabilized. The Russian ruble rallied up to a 1-week high against the dollar while yields on Spanish and Portuguese 10-year government bonds fell to record lows….
Asian stocks rose Monday, with the regional index headed for its steepest three-day advance in almost two months, as commodity shares climbed amid a rally in crude oil. New Zealand’s dollar dropped while Japanese bonds extended gains. The MSCI Asia Pacific Index climbed 0.6 percent by 11:04 a.m. in Tokyo, bringing its gain since Dec. 18…
Can a Central Bank Lend Money to Firms, Individuals or Households? by Dirk Ehnts, Econoblog101 Or, put differently, can firms, individuals or households borrow from the central bank? The answer for modern central banks is: no. Here is an excerpt from “the Statute”: CHAPTER IV MONETARY FUNCTIONS AND OPERATIONS OF THE ESCB Article 17 Accounts with the…
Banks are selling a record amount of U.S. structured notes tied to the stocks of fast-growing, volatile technology companies such as Facebook and Twitter. As Bloomberg Briefs reports, sales of securities linked to Facebook soared to $457.6 million this year, more than double the $204.2 million issued during the same period of 2013. Bloomberg notes that investors…
On December 16, 2014, U.S. zero-interest-rate policy (ZIRP) entered its seventh year. Happy belated birthday, ZIRP! And on Wednesday, the Federal Reserve noted that it can be “patient in beginning to normalize the stance of monetary policy.” Thankfully, after six long years of this emergency measure, the Fed is going to remain “patient.” A slight…
The holiday-shortened week has begun. Some causes of consternation have eased. Oil prices are firmer after the pre-weekend recovery. The Russian rouble, where the focus has been greater than the exposure, has continued to recover following signs that China may be willing to offer it more assistance. Its up 5.4% to bring its two-day recovery to…
