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Finance 0
FOMC Meeting And Gold
Yesterday, the minutes of the Federal Reserve’s June meeting were released. What do they say about the Fed’s stance and what do they mean for the gold market? The recent FOMC minutes hardly add anything new. The FOMC members agreed that the labor market had continued to strengthen and that economic activity had been rising moderately so far this year. Participants expected that inflation would remain low, but it would stabilize around the target over the medium term. Some analysts believe that the minutes were slightly dovish, as they suggest tensions over the inflation shortfall. However, we do not buy that interpretation. Surely, “s... -
Finance 0
USD/JPY: Another Leg Higher In 2017; What’s The Trade? – BofAML
Dollar/yen is getting comfortable around 113. What’s next? Here is their view, courtesy of eFXnews: Bank of America Merrill Lynch FX Strategy Research believes that the BoJ can keep the 10yr yield under control by its operations. “On the other hand, it may tolerate the gentle rise of superlong-term (over 10yr) yields to around 1%. From BoJ’s actions after YCC was introduced, we have pointed out that the BoJ does not want to increase its superlong-term JGB purchases, or that it wants to reduce those purchases by even a small amount. At the very least, it is probably reasonable to assume that the BoJ has no intention of aggressively... -
Finance 0
Gold Price Breaks Down
This is bad news for gold bulls. The price of gold has now officially broken down after one of the most sensational patterns we have ever seen. We have been updating our readers for more than 2 months now, saying that the price of gold (as well as gold miners) would start trending any time soon. We expected this to happen at the end of April, but an incredibly fascinating ping-pong between support and resistance in a huge triangle pattern continued until … this week. Early June, we wrote Gold: Decision Time After U.S. Fed Rate Hike End of May: Gold Price Attempting To Breakout And Set Bullish Trend For 2017 Mid May: Gold Price About To T... -
Finance 0
Resurgence Of McDonald’s But Stock’s Valuation Poses Downside Risk
Written by Finbox.io With more than 37,000 restaurants in over 100 countries, McDonald’s (NYSE: MCD) is considered an American icon around the world. Even more impressive is the stock’s history. Investing $2,250 for 100 shares in McDonald’s IPO in 1965 would have left you approximately $10 million richer.’ Though the company has faced multiple challenges on its way to dominance, the fast food chain has continued delivering impressive results through the decades. It is also a Dividend Aristocrat meaning it belongs in the exclusive club of companies which have paid and increased dividends for at least 25 consecutive years. In point of... -
Finance 0
The S&P 500, Dow And Nasdaq Since Their 2000 Highs
This update is in response to a standing request for real (inflation-adjusted) charts of the S&P 500, Dow 30, and Nasdaq Composite. It includes the latest monthly close data. Here are two overlays — one with the nominal price, excluding dividends, and the other with the price adjusted for inflation based on the Consumer Price Index for Urban Consumers (which is usually just referred to as the CPI). The charts require little explanation. So far the 21st Century has not been especially kind to equity investors. Yes, markets do bounce back, but often in time frames that defy optimistic expectations. Performance of the SPY ETF The charts ab... -
Finance 0
Solid 1H2017 Bodes Well For Equity Bulls, Even With The Pullback In Large-Cap Tech
The major US stock indexes continue to hold near their highs, awaiting the next upside catalyst, supported by persistently low-interest rates, record share buybacks, net solid economic reports, and continued organic growth in corporate earnings – in spite of disappointments in the fiscal policy front. The S&P 500 has held solidly above 2,400, the Dow has stayed above 21,000, the Russell 2000 has held 1,400, the Tech-heavy Nasdaq Composite has held 6,000 despite a severe pullback in the market-leading large-cap Tech stocks, and oil has held above the critical $40 mark despite being in a general downtrend since the start of the year. Rece... -
Finance 0
Trader: ‘Stocks Might Even Go Down. Stranger Things Have Happened’
On Wednesday, former FX trader Richard Breslow had a Kimble moment when, finally at wit’s end with people’s haphazard use of hyperbolic language, he banned certain words until such a time as you can pass his “plain-speaking test.” See Richard is like Detective Kimble from Kindergarten Cop and you’re like the kindergartners. By the time Friday rolls around (or, in the case of this week, by the time Wednesday rolled around), Breslow has reached a breaking point with what he generally regards a cacophony of senseless bullshit: But the important thing to remember is that it isn’t Richard’s lack of patience that’s the problem. ... -
Finance 0
Top 3 Foreign ETFs Of Q2
International investing has been extremely upbeat lately on the improving health of several economies. Policy easing has played a major role in driving global economic growth over the last couple of quarters. Be it Euro zone or emerging markets – all overseas regions grabbed investors’ attention in the second quarter. First of all, most developed economies – that faced deflationary threats so long – are slowly returning to the inflationary track. Notably, Japan and the Euro zone are still pursuing an ultra-easy monetary policy along with quantitative easing. A wave of cheap money in these international nations have stepped up economic... -
Finance 0
Cash For Clunkers Was A Complete Failure
Keynesian economics is fundamentally misguided because it focuses on how to encourage more spending when the real goal should be to figure out policies that result in more income. Consumption doesn’t drive growth, it’s a consequence of growth. This is one of the reasons I wish people focused more on “gross domestic income,” which is a measure of how we earn our national income (i.e., wages, small business income, corporate profits, etc) rather than on “gross domestic product,” which is a measure of how our national income gets allocated (consumption, investment, government, etc). Simply stated, Keynesians put the cart before t... -
Finance 0
Silk Road Gold Consumption For May
Silk Road (China, India, Russia & Turkey) gold consumption. May showed strong demand at 398.8 tonnes which is well in excess of global gold production at 269 tonnes per month....
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