In my original article last month on TM suggesting the AlphaCentric Income Opportunities Fund (IOFAX or IOFIX) I provided a chart comparing it to the Barclays Aggregate Bond Index. But for a real test, how has this bond fund performed versus the Standard and Poor’s 500 Index since its inception three years ago? Source: Fidelity…
Dollar/CAD had a massive turnaround, reaching new highs before turning sharply lower. Will it continue falling? GDP is the primary event in a light week leading into Easter. Here are the highlights and an updated technical analysis for USD/CAD. Everything went in favor of the Canadian dollar: the US removed a key demand that blocked the…
FUNDAMENTAL FORECAST FOR THE US DOLLAR: NEUTRAL White House reshuffle, China tariffs trigger panic across financial markets US Dollar still unsure of its role amid the chaos and searching for direction Severity of on-coming liquidation to decide if the greenback will rise or fall US politics triggered brutal bloodletting across financial markets last week, handing the…
This past week was certainly a difficult one for the market and by default, a difficult one for investors. Most of the weakness occurred on the last two days of the week, which resulted in the week’s return for the S&P 500 Index ending at a negative 5.98%. Even with the recent market weakness, on…
VIX surged past the weekly Cycle Top at 22.74, closing the week with a buy signal. The next Cycle Top may exceed the prior high in the next 1-2 weeks. (ZeroHedge) Just two weeks ago, everything was awesome: jobs data was perfectly ‘Goldilocks’, stocks surged, banks loved it, and VIX flash-crashed lower – normalizing the term…
Brazil registered its lowest annual inflation rate in February since 2000, as the benchmark IPCA consumer price index increased 2.84% in the 12 months through February. As a result, the central bank’s nine-member monetary policy committee, Copom, cut the benchmark Selic rate by 25 basis points to 6.50%. Copom has cut the key interest rate…
The shellacking of Facebook (FB) for over a week of scandal-ridden headlines has created that rare beast in the jungle of tech stocks: a “value” play. Facebook has a trailing P/E of 29.6 and a forward P/E of 17.9. Quarterly earnings growth is running at 19.6% year-over-year. According to briefing.com year-over-year revenue growth has run…
In my role as a long-term investor (trading is a different story) I don’t care about Chinese purchases of US Treasuries. You shouldn’t either. The issue is the focal point of the trade war story. There are multiple reasons, but the most important is rarely mentioned. Stories ask, “Who Will Buy Our Bonds?” as if…
Following futures positions of non-commercials are as of March 20, 2018. 10-year note: Currently net short 313.3k, up 41.9k. Chairing his maiden meeting as Fed chief, Jerome Powell probably could not have asked for more insofar as markets’ reaction was concerned. They did not know whether to make heads or tails of what transpired Wednesday….
USDCHF: With the pair backing off higher prices to close lower the past week, more weakness is likely. On the downside, support lies at the 0.9450 level. A turn below here will open the door for more weakness towards the 0.9400 level and then the 0.9350 level. On the upside, resistance resides at the 0.9500…
