Short-term Treasuries would be the receptacles of a flight to ‘quality’, liquidity, risk ‘OFF’. The longer-term bonds would be a more risky risk ‘OFF’ play, with more potential gain as well. Here are some daily charts with short-term implications. SHY (1-3 yr bonds) is looking good as it marches along in its up trend. In…
Hot stocks of the day: SPY FTR TSN MU GDX Video length: 00:05:26
Amid the collapse in coal prices, not helped by the ‘China situation’ and President Obama’s nudge, WSJ reports that the ailing US coal just got another black eye as Alpha Natural Resources (ANR) is expected to file for chapter 11 bankruptcy protection early Monday to cut its more than $3 billion debt load. After four…
A partial rebound was in play in July after widespread losses dominated the global markets during the previous two months. Notably, last month witnessed a sharp increase in US real estate investment trusts (REITs)–the first increase after three monthly declines. Stock markets in the developed world were mostly higher in July as well. But July…
The US dollar is mostly confined to the pre-weekend trading ranges as participants prepare for this week’s big events which include the BOE meeting, minutes and new forecasts, and the US jobs report. The main exception is the Canadian dollar, which remains under pressure following the unexpected contraction in May, and the weekend call…
Greece seems to be walking on egg shells on its way to recovery. After months of heady negotiations that saw the country on the verge of bankruptcy and a near “Grexit,” Athens is making its moves cautiously. After a closure of three weeks, banks in Greece reopened on June 20 and the Athens Stock exchange…
U.S. policymakers remain vague about the timing of a possible rate hike Demand for the USD was re-established on Wednesday when the Federal Open Market Committee (FOMC) released its latest monetary policy statement. And even though the tone of the report on the increasing likelihood for an interest rate increase was widely expected, the EUR/USD…
QUESTION: Mr. Armstrong; Your timing has been incredible. It is becoming clear that your forecasts are time and price which are separate. You have opened my eyes to a whole new way to observing the world. Do you think gold will still reach $5,000 after 2016? Thanks so much RB ANSWER: Yes. But as I have…
Courtesy of Pam Martens. JPMorgan Chase’s Stock Chart, July 16, 2008 Through August 11, 2008 From the looks of JPMorgan’s share price, one would think the financial world is bathing in a sea of tranquility rather than experiencing crashing commodity prices, tremors in the Eurozone, Canada acknowledging two quarters of contraction, ruptures in China’s stock…
Yet again the endless reassurance from the talking heads of the world is proven fallacious as the crash in China’s stock market has apparently crashed its economy. China’s Manufacturing PMI final print for July collapsed to 47.8 – its lowest since July 2013. The reaction is not pretty. China is down 4-8% from Friday’s highs…
