Everyone thought that any major monetary policy surprises and/or capital controls today would come from Putin during his annual press conference. Boy were they wrong: just after 2 am Eastern, none other than the Swiss National Bank joined the ranks of the ECB in scrambling to stem the wave of capital flight, not to mention…
Investing Daily Article of the Week by Robert Rapier, Investing Daily When I first went to work for ConocoPhillips (NYSE: COP), I worked on technology development. I had spent the previous seven years working in the chemical industry, and didn’t know all that much about the oil industry. My first job at ConocoPhillips was helping with a gas-to-liquids…
Asian shares rallied on Thursday after U.S. stocks enjoyed their strongest session this year as the Federal Reserve sounded upbeat on the economy and promised to be patient in removing policy stimulus. The jitters of recent days also calmed somewhat as Russia managed to stabilize its ruble, if only for now, and oil prices bounced…
The Swiss franc tumbled today, as its Swiss National Bank’s (SNB) imposed a charge on deposits for two main concerns. First, they are scared of a flood of money exiting Russia buying Swiss driving the franc higher and secondly they remain terrified of anticipated pressure continuing from the Eurozone if the ECB starts full-scale money printing early next year. While the…
The Swiss National Bank surprised the market by announced a negative 25 bp rate on sight deposits and lower the 3-month Libor range to -0.75% to 0.25%. Although SNB President Jordan revealed that it was inflows from Russia that compelled it to intervene in recent days, the fact of the matter is that the negative rate…
This video was published on Youtube a week ago and has only had 27 views. The video is of a talk Adair Turner gave in November at the Bristol Festival of Economics. It reflects his current insights. He gives explanations for 4 big patterns developing in the global economy. Increased Inequality Rising ratio of wealth to income…
Earlier this evening China’s State Administration of Foreign Exchange’s (SAFE) Wang Yungui noted “the impact of the Russian Ruble depreciation was unclear yet, and, as Bloomberg reported, “SAFE is closely watching Ruble’s depreciation and encouraging companies to hedge Ruble risks.” His comments also echoed the ongoing FX reform agenda aimed at increasing Yuan flexibility which The South…
(T2108 measures the percentage of stocks trading above their respective 40-day moving averages [DMAs]. It helps to identify extremes in market sentiment that are likely to reverse. To learn more about it, see my T2108 Resource Page. You can follow real-time T2108 commentary on twitter using the #T2108 hashtag. T2108-related trades and other trades are sometimes posted on…
Future rate hikes and traders pretend to believe Yellen. Audio Length: 00:25:19
Cara Therapeutics, Inc. (Nasdaq:CARA), a biopharmaceutical company focused on developing and commercializing new chemical entities designed to alleviate pain and pruritus by selectively targeting kappa opioid receptors, today announced the successful completion of a Phase 1a / 1b clinical trial of an oral tablet formulation of its peripherally-selective kappa opioid agonist, CR845, for the treatment…
