With upsized 3 and 10 Year Treasury auctions pricing earlier this week at stronger internals than the bears had anticipated, moments ago the US Treasury sold a similarly upsized $17BN in 30Y paper – the largest long-bond auction on record – and yet the market had virtually no problem digesting the added supply, which in…
The simple answer to the question in the posting title is probably not. Chris Temple joins me to address the pullback in the USD below 93 (but it is climbing back as I am posting) and move higher in metals, and US equities. We also address the generally lower VIX. (Audio length 00:09:29)
Below is a summary of my post-CPI tweets. OK, 20 minutes to CPI. Let’s get started. Although chatter isn’t part of the CPI, it’s interesting to me as a CPI guy. The chatter seems less this month than last month (maybe because of two readings <0.2%). I guess no easy ‘cell phone story’ to latch…
Did seven years of zero percent rate policy, three rounds of quantitative easing (QE) and “Operation Twist” provide a consequence-free credit boom? Or will “too-low-for-too-long” monetary manipulation eventually lead to a credit bust – one with adverse effects for asset prices as well as economic growth? It is not particularly difficult to understand that the mid-2000s credit…
Shares of Roku rose 3% Thursday morning after the company reported positive first-quarter results that were above expectations. The company posted adjusted earnings per share that beat Wall Street’s estimate by $0.08, while revenue increased by 36.5% to beat analysts’ estimate by $9.45 million. Roku, which is popular for its streaming devices, for the first…
Demand for gold declined 7 percent in Q1 2018 while gold supply increased. But the price did not fall. What does it all mean for the gold market? Gold Demand Dwindles in Q1 2018 We are always ahead of other analysts. Last week, the World Gold Council released a new edition of its quarterly report on gold demand….
I’m not a huge fan of using technical analysis on indicators, particularly when the y-axis on the chart is a percentage basis capped at 100%. But this T2108 chart, I believe has some merit as it pertains to support and resistance. For those needing a refresher, the T2108 measures the percentage of stocks trading above…
USD/CAD continues to give back the advance from the previous month as fresh data prints coming out of the U.S. economy highlight a limited risk for above-target inflation, with the pair at risk for a further decline as Canada’s Employment report is anticipated to show a 20.0K expansion in April. In contrast, the New Zealand dollar remains…
It can’t happen here! What is happening in Venezuela and Argentina cannot occur in Western economies. That’s at least what markets believe with stocks and most bubble assets remaining in cloud cuckoo land. Rates in Argentina have just gone to 40% to protect the currency. Anyone who believes that rates in the US will remain at…
I hope the AMD/Nvidia crypto bears took heed the last time we published about TSMC’s crypto strength. Bears thought crypto’s over. The stocks are much higher since. TSMC, today again came out hinting to crypto strength. That’s right, strength. TSMC Crypto Strong Again While the bears think mining is over, it’s not. AMD had amazing results and TSMC just…
