When it rains, it pours for Brazil. The country’s economy has been negatively affected by global deflation. Now comes political turmoil. According to Bloomberg, a group of high-powered lawyers have filed a request to impeach President Dilma Rousseff: While at least two dozen impeachment requests already have been filed, this one is different because of…
In its weekly release, Houston-based oilfield services company Baker Hughes Inc. (BHI – Analyst Report) reported a fall in the U.S. rig count (number of rigs searching for oil and gas in the country) from the previous week. The decline stemmed from a lower number of oil-directed rigs. However, the number of gas-directed rigs rose and partially…
This still won’t get it done….Icahn (and shareholders) are looking for $10’s of billions in activity. Hancock seems to be refusing to acknowledge that reality. Yes, this is a move in the right direction but not at the end of the day what is needed. They still have $1.6B in ownership in PICC. Based on…
The public-to-private sector “revolving door” has crossed into the macabre twilight zone. An announcement by giant bond manager (technically, these days “merely above average height” bond manager, considering the collapse in the TRF’s AUM since Bill Gross’ departure over a year ago) revealed that public service cronyism is not only alive, but has never been…
Asian countries are not only buying up gold, they also have a huge appetite for silver. Chinese imports of the white metal are on a record-breaking pace this year, driven partly by strong demand for jewelry and industrial applications such as solar panels. According to the Wall Street Journal, based on the current trend, Chinese silver…
Monday saw the pound/dollar drop to 1.5044. The dollar has been slowly winning back its losses across the board after the release of Friday’s NFP. The pound is being sold in many crosses (see indicator beneath price), meaning that if this kind of tendency persists, the pound could fall to 112 degrees at 1.50. I…
The European Union generally makes it difficult for U.S. companies to operate within its borders. With more regulations surrounding business and labor practices and an overall difference in cultures, big U.S. companies like Wal-Mart (WMT), Amazon (AMZN) and Apple (AAPL) have met great opposition from regulators and citizens alike. Now McDonald’s (MCD) is running the gauntlet, although the reason isn’t…
On Monday, the price of U.S. oil dropped below 38 dollars a barrel for the first time in six years. The last time the price of oil was this low, the global financial system was melting down and the U.S. economy was experiencing the worst recession that it had seen since the Great Depression of…
After September’s record surge in total consumer credit, when non-revolving credit soared by $22 billion while credit card jumped by a whopping $6.7 billion, something appears to have snapped in October when according to the Fed, just $16 billion of new credit was created, almost half the prior month, and far below the consensus estimate…
Yesterday’s Trading: Monday saw the euro/dollar reaching for the support at around 1.0800. The correction was 38.2% from the growth from 1.0518 to 1.0980. The calendar was empty, so the price easily returned to the balance line at 1.0859. Main news of the day (EET): 11:30, UK industrial manufacturing and production in the manufacturing sector…
