Podcast: Play in new window | Play in new window (Duration: 13:16 — 6.1MB) DOW – 249 = 15,766 SPX – 22 = 1859 NAS – 5 = 4471 10 Y – .05 = 1.98% OIL – 1.91 = 26.55 GOLD + 13.70 = 1102.20 I remember a time, long ago and far away, where the stock market soared…
One follow up point to this morning’s missive about why the economy seems to be converging in recession rather than full and blossoming recovery: There must be something said about the manner of redistribution in this “cycle” as different from all others. In other words, the Fed has been attempting greater and greater redistribution efforts via monetary interference ever since Solow…
“There is a thin line that separates laughter and pain, comedy and tragedy, humor and hurt.” – Erma Bombeck In times like this, where everyone seems to panic out of not just asset classes, but also strategies, introspection is a worthwhile endeavor. After having been on the road for nearly two years now and presenting…
Financial credit & counterparty risk – has consistently been an issue; but more recently it has come to the fore yet-again. We had called the Fed’s rate-hike several things: a) belated and reactive after they had already painted-themselves into a corner; b) based upon global macro issues in a way that required the Fed to pretend…
ECB Interest-rate Decision The ECB has an interest rate decision during the day on Thursday, and quite frankly it is probably only a matter of time before the press conference moves the market. However, the question will be whether or not they add quantitative easing out of Brussels, or they do not. That of course will…
“We really can’t forecast all that well, and yet we pretend that we can, but we really can’t.” Alan Greenspan, former Chairman of the Federal Reserve Bank. It wasn’t meant to be like that. A new year and a fresh new start was supposed to be the narrative. The Fed starts its rate rising cycle…
EURGBP- With the cross turning lower on loss of upside momentum on Wednesday, further price weakness is expected. On the upside, resistance lies at the 0.7750 level where a violation if seen will turn risk towards the 0.7800 level. On further upside, the 0.7850 level comes in as the next upside target followed by the…
A week ago, in anticipation of the risk ‘off’ impulse in the markets, we NFTRH+’d long-term Treasury bond fund TLT. Here’s the original post, unlocked. We set parameters for buying and for a ‘stop loss’, but not for selling because this vehicle can be used for several different reasons, including price appreciation, but also for risk…
Everyone is worried about energy stocks. It makes sense. Stocks in the sector have fallen hard over the past year as the price of oil has collapsed. And that has many investors concerned that their dividends may be cut. The dividends are often why people invest in these names in the first place. And when…
With December’s seasonal shenanigans out of the way, and following 2 record-breaking weekly builds in gasoline stocks, with expectations of a 2.3mm barrel build API reported a large 4.6mm inventory build (double expectations). Cushing inventories built 63k, rising for the 12th week in a row. Gasoline stocks rose once again (+4.7mm) and Distillates also (+1.5mm). December is over……
