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Finance 0
“Sea Of Red” – Stocks, Bonds Slammed As Risk-Parity Funds Tumble
As Risk-Parity funds begin their 7th down day in a row – the biggest decline since Sept 2016 – so global bonds and stocks are feeling the leveraged unwind. Something just changed: The dollar is limping lower… Stocks are in trouble… And so are global stocks… NOTE: 10Y JGB yields are back above BoJ’s crucial 10bps level. Also of note, this morning we got the ECB’s cautiously hawkish minutes. While the overall tone was cautious, Citi highlights that there are certainly some interesting extracts specifically pertaining to changing communication on QE easing bias and the impact on markets. We highlight bel... -
Finance 0
Weekly Unemployment Claims: Third Consecutive Week Of Increases
Here is the opening statement from the Department of Labor: In the week ending July 1, the advance figure for seasonally adjusted initial claims was 248,000, an increase of 4,000 from the previous week’s unrevised level of 244,000. The 4-week moving average was 243,000, an increase of 750 from the previous week’s unrevised average of 242,250 [See full report] Today’s seasonally adjusted 248K new claims, up 4K from last week’s revised number, was worse than the Investing.com forecast of 243K and its third consecutive increase. Here is a close look at the data over the past few years (with a callout for the past year),... -
Finance 0
Bull Of The Day: TICC Capital Corp
TICC Capital Corp (TICC – Free Report) is a Zacks Rank #2 (Buy) and sports an “A” for value and momentum as well as a “C” for growth. Investors should put this stock on their radar screens right here after it has dropped about $1 per share over the last few weeks with the financials just starting to catch fire. A recent surge in price might also tell investors that it is bouncing off the bottom. TICC is a business development company that provides capital to companies that are looking to grow organically or via acquisition. They also provide capital for recapitalizations or even working capital for everyday business needs.... -
Finance 0
May 2017 Trade Balance Unproved
Trade data headlines show the trade balance improved from last month. Our analysis paints a stronger picture for trade using the rolling averages. Analyst Opinion of Trade Data Our monthly analysis using unadjusted data showed growing strength in both exports and imports relative to last month. But the data in this series wobbles and the 3 month rolling averages are the best way to look at this series. The 3 month averages are improving. This report will have little affect on 2Q2017 GDP. Import goods growth has positive implications historically to the economy – and the seasonally adjusted goods and services imports were reported downm... -
Finance 0
The Stock Whisper Of The Day: USO, VWO, ERIC
Hot stocks of the day: USO, VWO, ERIC Video length: 00:05:04... -
Finance 0
‘Chain Reaction’ Strikes: Stocks Dive As Sudden Bund Sell-Off Triggers Bond Bloodbath
So earlier, yields on JGB 10s rose above 0.10% for first time since February 15. That’s obviously notable for all kinds of reasons, not the least of which is that it shows upward pressure on global DM yields is starting to test the BoJ’s YCC. Well later in the session, bund yields spiked. And in the context of last week’s doubling and the attendant “tantrum” fears, that’s not what you want to hear. Apparently, the catalyst was lackluster demand at a French 30Y auction which saw a bid-cover ratio of 1.53, down notably from 1.93 at the previous sale back in January. To put it colloquially, shit hit the fan after that. Bund futs v... -
Finance 0
E Why You Should Keep A Close Eye On Your Credit
When the subject of credit pops up in a conversation, some of the most prominent terms discussed in such conversations include items like credit score, identity theft, debt, and mortgage. Yet many forget about the important aspect of keeping a close eye on their credit statements. There are many factors that should keep consumers concerned about their credit. One, is the rate at which the federal reserve has been hiking interest rate lately and another, is the rise of cybercrime, which has grown some muscle due to the increasing usage of online payments. Also, the fact that mobile wallets and electronic payments expose consumers to cybercrime... -
Finance 0
L Brands Drops Following Weak June Comps, Total Sales
Shares of L Brands (LB) dropped in premarket trading after its total sales and comparable sales declined in June from the year-ago period. Following the report, an analyst at Jefferies recommended selling shares. JUNE SALES DECLINE: L Brands, the parent company of Victoria’s Secret and Bath & Body Works, said this morning that comparable sales for the five week period ending July 1 fell 9% from a year ago and that total net sales declined 6% from the prior year period to $1.21B. The company said exiting the swim and apparel categories hurt total company and Victoria’s Secret same-store sales by 7 percentage points and 10 perce... -
Finance 0
Tensions To Rise Further After Qatar Rejects Ultimatum
In the past two weeks, tensions were rising significantly between Qatar and some Arab countries, mostly GCC countries. The Arab countries including Saudi Arabia, UAE, Bahrain, and Egypt issued an ultimatum to Qatar, giving 10 days to react to these demands. Otherwise, threatened Saudi Arabia, things will escalate further. Qatar did not respond during the 10 days and asked for 48 hours extension. The countries agreed, but then Qatar refused the demands in full. Yesterday, everyone was waiting for the press conference that was held in Cairo, which was supposed to hold new decisions and measures by the four countries against Qatar. The surp... -
Finance 0
Fake Oil News?
Oil prices sold off almost 5% on what many people attributed to a story that some unnamed Russian oil company source said that Russia was against a production cut. Today those sources are still unknown, but really the sell-off in oil probably had more to do with the fact that Saudi Arabia cut prices to Asia as the kingdom was losing market share to Iraq and Iran that has been raising output and taking away business from the Saudis. Reuters News reported that OPEC exports increased last month. OPEC exported 25.92 million barrels per day in June, up 450,000 bpd from May and 1.9 million bpd more than a year earlier and reports of rising producti...
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