While Sweden is over-flowing with excess cash on bank balance sheets, it appears that banks in Hong Kong are desperate to borrow Yuan (or scared to lend) as overnight HIBOR just exploded higher to 9.45% – a record for the interbank offered rate. The HKD and CNY/CNH FX markets remain relatively stable (with Yuan fixed marginally…
With the holiday season upon us, and in view of the anticipated slowdown in market activity for the next week or so, it seems like a good time to take a bit of a different look at world currencies and review how they performed against the dollar in 2015 when compared to 2014. There were certainly several…
Russia and Kazakhstan continued their gold buying spree in November, and Turkey added to its reserves as well. Meanwhile, India is on pace for a healthy increase in gold imports this year. It was the 38th straight month of increasing gold reserves for Kazakhstan, according to Bloomberg: Kazakhstan raised its stash to 7.03 million ounces in November…
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Micron Technology Inc (MU – Analyst Report) just released their first quarter fiscal 2016 earnings results, posting an earnings beat of $0.01 and a revenue miss of -$.171 billion. Currently, Micron Technology has a Zacks Rank #3 (Hold), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics…
The latest episode in the Star Wars saga was released last Thursday in the United States. With analyst eyes watching carefully, the film smashed record after record: Sold $100 million worth of pre-sale tickets, beating out Jurassic World’s $25 million mark. Brought in $57 million on Thursday night, beating the previous opening Thursday record of…
– U.S. Durable Goods Orders to Contract for Sixth Time in Last 11-Months. – Non-Defense Capital Goods Orders ex Aircrafts to Decline for First Time Since August. Trading the News: U.S. Durable Goods Orders A 0.7% decline in orders for U.S. Durable Goods accompanied by a weakening outlook for business investments may produce near-term headwinds for the greenback…
Two Wall Street Journal articles caught my eye this morning: The Future of China’s Economy: Yuppies and Women Fuel China’s Fitness Craze. Both discuss the spending power of the Chinese middle class. In the first article, author Laurie Burkitt wrote that China’s economy will be relying heavily on “yuppies” – young urban professionals: According to a new study…
When it comes to explaining why the post-crisis world has been defined by lackluster aggregate demand and a deceleration in global trade, all roads lead to China. Indeed, the country’s attempt to mark a difficult transition from an investment-led, smokestack economy to a consumption and services-led model has contributed mightily to an epic downturn in…
2015 has been a turbulent year for pharma stocks. Deals have helped the sector remain in favor, but concerns about pricing and the Valeant scandal are just two of the factors that have tarred the sector’s reputation, bringing valuations back to earth. Analysts at Credit Suisse believe that 2016 is set to be yet another…
