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America Can’t Afford To Rebuild
Adolphe Yvon Genius of America c1870 A number of people have argued over the past few days that Hurricane Harvey will NOT boost the US housing market. As if any such argument would or should be required. Hurricane Irma will not provide any such boost either. News about the ‘resurrection’ of New Orleans post-Katrina has pretty much dried up, but we know scores of people there never returned, in most cases because they couldn’t afford to. And Katrina took place 12 years ago, well before the financial crisis. How do you think this will play out today? Houston is a rich city, but that doesn’t mean it’s full of rich people only. Most h... -
Finance 0
US Dollar’s Decline Fueled Gains In Foreign Bonds Last Week
The US Dollar Index last week slumped to its lowest level in over two-and-a-half years, boosting returns in foreign bonds. Non-dollar corporate bonds topped the performance list among the major asset classes, based on a set of exchange traded products. Notably, the top-four market performers for last week are offshore fixed-income funds. PowerShares International Corporate Bond Portfolio (PICB) led the field in the shortened four-day trading week through Friday, Aug. 8. The ETF increased 2.0%, rising to a two-year high. Last week’s biggest laggard: US equities. Vanguard Total Stock Market (VTI) slipped 0.6%, its first weekly setback in th... -
Finance 0
Forex Week In Review – Monday, Sept. 11
Last week was a negative affair for the world’s major markets with only the DAX making gains. In Europe over the course of the week, the FTSE was down on last week’s close by 0.89% at 7377.6; the DAX ended at 12304, up by 1.3% on last week’s close; the CAC was down by 0.17% to end the session at 5113.5. The Dow ended the week down by 0.86% to close at 21798. The Nasdaq composite index was down by 1.2% over the course of the week at 6360.2. The Nikkei 225 ended the week’s trading down by 2.1% to end the session at 19275. Currency markets review On the currency markets last week, the Yen enjoyed the best of the trading. The Dollar was w... -
Finance 0
Sensex Up Over 190 Points; Oil & Gas Stocks Witness Buying
After opening the day firm, stock markets in India continued their momentum. Sectoral indices are trading on a positive note with stocks in the capital goods sector and oil & gas sector witnessing maximum buying interest. The BSE Sensex is trading up 184 points (up 0.6%) and the NSE Nifty is trading up 57 points (up 0.6%). The BSE Mid Cap index is trading up by 0.9%, while the BSE Small Cap index is trading up by 0.8%. The rupee is trading at 63.85 to the US$. Stocks from the automobile sector are trading on a positive note today. This comes as the GST Council raised the vehicle cess by less than the maximum possible limit... -
Finance 0
Central Banks Dominate As USD Continues To Slide Lower
Last week, the Bank of Canada once again raised its benchmark interest rate, with the BOC stating it sees the economy’s powerful performance pointing to broader, more self-sustaining growth. The central bank hiked rates by one-quarter point to 1%, its second 0.25-basis-point increase in as many months. After the Bank of Canada raised rates, the policy statement was notably hawkish, stating that solid Canadian employment and wage growth led to strong consumer spending, while the key areas of business investment and exports also improved. The Bank of Canada (BOC) also said “Recent economic data has been stronger than expected, supporting th... -
Finance 0
S&P-500 – Monday, September 11
This price channel cannot be sustained long. Source: INVESTING.com... -
Finance 0
High Yield Caution
Friday iShares iBoxx $ High Yield Corporate Bond ETF (HYG) made a noticeable decline and after testing the August 2 high on September 1 it then turned lower. As one of our Foremost Indicators, the failure to continue higher at the previous high deserves some attention. There is more below including a put spread idea, but first a brief market review. S&P 500 Index (SPX) 2461.43 slipped 15.12 points or -.61% for the week but remained above the 50-day moving average at 2454.90 after declining 18.70 points last Tuesday on geopolitical news from North Korea and then recovering Wednesday to make a small inside range day that began forming a ... -
Finance 0
WTI Crude Oil And Natural Gas Forecast – Monday, Sept. 11
WTI Crude Oil The WTI Crude Oil market fell significantly on Friday, breaking down below the bottom of a hammer. That hammer is now a “hanging man”, showing signs of real weakness. Ultimately, there is a lot of concerns when it comes to demand destruction after the hurricanes, and of course refineries being quiet. The strength of the bearish candle suggests that we will continue to go lower, perhaps looking towards the $46 level. Once we break below there, the market could go looking towards the $47.50 level. I think the sellers come back, and it’s likely that the market is ready to start selling off yet again. Longer-term fundamentals ... -
Finance 0
The Future Of The Global Economy
If you establish a democracy, you must in due time reap the fruits of a democracy. You will in due season have great impatience of public burdens, combined in due season with great increase of public expenditure. You will in due season have wars entered into from passion and not from reason… – Benjamin Disraeli, prime minister of England, novelist In any bureaucracy, the people devoted to the benefit of the bureaucracy itself always get in control, and those dedicated to the goals the bureaucracy is supposed to accomplish have less and less influence, and sometimes are eliminated entirely…. In any bureaucratic organization, there wi... -
Finance 0
Forex Weekly Outlook September 11-15
The US dollar plunged against its counterparts last week following increased Hurricane damage and North Korea missile threat. These uncertainties weighed on economic activities and plunged new job creation. The labor market added fewer jobs, 156,000, in August than expected, below the 180,000 jobs projected by economists and 189,000 recorded in July. Also, while the second quarter economic growth was revised up to 3 percent from 2.6 percent previously reported, wage growth remained lackluster, rising just 0.1 percent in August. Another reason the markets doubt the Fed will raise rates anymore this year, especially with the US economic activit...
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