Last week, we discussed the likelihood of another Large Spec washout in COMEX gold and the impact this would have on price in the short term. Today, let’s look at this in greater detail. Ultimately, this is an issue of dollar strength. The past four weeks have seen a relentless rally in the U.S. dollar…
Market Analysis The USDA’s May supply/demand updates had some surprises in their new-crop corn & soybean ending stocks when the World Board issued their 1st US & World 2018/19 S&D projections. Two things that didn’t change however was the USDA’s Ag Forum yields & 2018’s planting intentions, which are normally used in 2018/19 balance sheets….
Berkshire Hathaway CEO Warren Buffett and Vice Chairman Charlie Munger both came out swinging against bitcoin this week. Buffett called bitcoin “rat poison squared,” while Munger was cruder, comparing the cryptocurrency to “turds” and “selling baby brains.” The irony here is rich and layered. Munger and Buffett are legendary value investors known for advising people…
The mega-cap stocks that dominate the US markets are just wrapping up a truly-extraordinary earnings season. Naturally this first quarter under Republicans’ new corporate tax cuts fueled surging profits. But sales were up big too, which is no mean feat for massive companies. With sustained growth at this torrid pace impossible, peak-earnings fears are mounting….
April 2018 saw the deadline for the new gender pay reporting regulations pass, and it is clear that there is still some way to go before there is pay parity between the genders. In 2010, the European Commission officially named gender balance as a priority on its political agenda. Yet, eight years on, it is questionable…
Video by Steve Sosnick Some people, such as Jamie Dimon, have said the yield on the 10-year US Treasury note may go to 4%. What would happen if this comes to fruition? Video Length: 00:05:15
The USD/JPY made another attempt to tackle ¥110.00 but had no luck. The resilience of the US consumer will be tested in the upcoming week. The technical picture is slightly bullish, but the pair may be looking for a new direction. Weak US inflation triggers new thinking The US Dollar kicked off the week where…
It was a busy week for the Treasury bond market: A Federal Open Market Committee (FOMC) meeting, a manufacturing outlook, inflation, wage and spending updates, and, to top it off, the monthly jobs report released Friday morning! Last Monday’s March Personal Income and Outlays report didn’t include a lot of surprises. Monthly personal income was…
Looking at Canadian employment numbers for April, one comes away with a rather unsatisfactory feeling about the quality of economic growth. April witnessed no net job growth, no change in the unemployment rate of 5.8 per cent and no sense that the various components of the labor market have improved at all since the end…
So far this year, the US equity market has not been affected significantly by the high level of domestic political discord. The volatility we have seen in US equities appears to have been driven largely by concerns about rising interest rates and external factors such as trade war fears. US stocks now are about where…
