The Greek deal reached in the early hours of last Monday and ratified by the Greek parliament Wednesday drew a sigh of relief from investors. Unfortunately, that reaction was not simply premature. It’s completely misguided. Greece would be far better off leaving the eurozone, and the common currency would be strengthened by its departure. Meanwhile,…
New claims for unemployment insurance this week came in at the lowest level in over 40 years. How much slack can there be left in the labor market? Initial claims for unemployment insurance, weekly, 1967-01-07 to 2015-07-18. Source: FRED. The most common measure of unemployment (known as U3) counts the number of people who are not…
Last 28 Months – Fed Policy Side Effects? Observable Deterioration “Be Patient” Evidence After A Similar Consolidation Period In 1904, What Happened? After A Similar Consolidation Period In 1934, What Happened? After A Similar Consolidation Period In 1994, What Happened? Did Sentiment Set Another Skeptical Record? Weak Transportation Average – Showstopper? Weak Breadth – A…
Abbott Laboratories (ABT) recently released its 2nd quarter 2015 results. The company saw adjusted earnings-per-share grow 6.1% to $0.52 per share from $0.49 per share in the same quarter a year ago. Abbott Laboratories left its adjusted earnings-per-share guidance for full fiscal 2015 unchanged at $2.10 to $2.20 per share. The company had adjusted earnings-per-share from continuing operations…
by Ajay Shah, ajayshahblog When the Financial Sector Legislative Reforms Commission (FSLRC) produced the draft Indian Financial Code (IFC) in March 2013, the Ministry of Finance put it out for public review and comments. This version is informally termed IFC v1.0. Hundreds of comments were received on this first draft. Justice Srikrishna and his team worked on these comments…
Do you consider how inaccurate the monthly economic releases are? Every day, the markets react to the deviation from expectations for releases on employment, manufacturing, spending et al. No consideration is made to the backward revisions which effect HOW one should view the current data. Analysis of monthly movements are hardly ever correct as backward revisions,…
Podcast: Play in new window | Play in new window (Duration: 13:16 — 6.1MB) DOW – 163 = 17,568 SPX – 22 = 2079 NAS – 57 = 5088 10 YR YLD un 2.27% OIL – .31 = 48.14 GOLD + 9.10 = 1100.50 SILV + .08 = 14.84 Well, this turned out to be an ugly week. The…
Illinois Governor Bruce Rauner asked the U.S. Department of Agriculture to declare a disaster in areas of the state hit hard by flooding. He should have asked for disaster relief on behalf of all the nation’s corn. Illinois was the nation’s #2 producer of corn in 2014, but the potential damage from on-going flooding in the…
2009: Medicare Unsustainable. From less than 4% of GDP heading straight for 11%. 2015: Medicare You Decide. Still less than 4% of GDP heading for 6% Why is JEB still having the same conversation about viability of the program? Ten years ago I would have earnestly told you that we didn’t have an…
Could the high yield bond market be sending a precursor message to the Fed, signaling them not raise rates until 2016? While that’s a notable possibility, the market just doesn’t seem hungry enough to gobble up excess inventory from record outstanding high yield debt levels. Especially with intermediate to long-term fundamental challenges such as the…
