The best sector in ADRs is financials. The top countries are Hong Kong, Finland, & Canada. The average score across our ADR universe is 53.10. For perspective, the average ADR score over the past four and eight weeks is 54.06 and 53.57, respectively. The average ADR in our universe is trading -14.78% below its 52 week high, 3.78% above its 200 dma, has 3.06 days to cover held short, and is expected to grow EPS by 18.9% next year. The top scoring ADR sector is financials (BMO, CS, WBK, RY, NOAH, NABZY, GGAL, ANZBY). Utilities (CPL, HNP), healthcare (GWPH, AVDL, AZN, RHHBY, BAYRY), and industrial goods (HCMLY, MXCYY, WOSYY, ERJ) also score ...
During today’s European session, the dollar is recovering its Friday losses, incurred on the back of Janet Yellen’s comments. The GBP/USD rate has fallen from 1.2300 to 1.2248. The EUR/USD pair fell to 1.0585 after a rise to 1.0640. The single currency underwent a phase of growth lasting 20 minutes. After a 50-minute flat, and a rise in US bond yields, the euro fell to 1.0585. I can’t give a full account of the relevant news, but there are a couple of items that could have affected the volatility of the EUR/USD pair. First of all, Republicans have been trying to convince Fillon not to run for president and give way to anothe...
Last week I was in Vancouver attending YPO EDGE, the annual summit for business executives from more than 130 countries. YPO, which stands for Young Presidents’ Organization, has roughly 24,000 members worldwide. Together, they employ 15 million people and generate a massive $6 trillion in revenue annually. What I appreciate about YPO is that it stresses peer-to-peer learning. Those who think it’s all about networking and cutting deals are missing the point. The theme this year was disruption—how innovative breakthroughs in technology, medicine, transportation, machine learning and more have transformed and will continue to transform, t...
This article is about the latest movements in the French presidential election. The shifts in this election have been happening quickly. The reason I am analyzing it closely because it has the potential to move equity markets, including in the U.S. There has been a wave of populism spreading throughout the world because the global economic recovery has been week for the developed world and many workers haven’t seen real wages increase. While technology has improved and made our lives better, there has been declining faith in the government because of those socioeconomic factors. If the current system is despised by citizens, it can have dan...
I’m weary of nabbing all these pea-sized profits, but I’m taking what I can get these days: I sold out my TWM position this morning since we came right to important support once more. Until this line breaks, it’s just going to keep bouncing. ...
We discuss the S&P 500, Gold, VIX, Bonds, US Dollar, Oil and the Currency Markets in this Trading Video. Until The VIX spikes above 14, nothing Dramatic is going to happen in Financial Markets! Video length: 00:19:44...
Written by Chad Farrington, CFA – Columbia Threadneedle Investments Tobacco bond yields can be addictive, but price volatility and default risk could make you ill. Municipal tobacco bonds are one of the largest and most liquid segments of the high-yield muni bond market. They can offer enticing yields and periods of extraordinary returns. However, those features also come with high levels of price volatility. And because their repayment is dependent on cigarette consumption — and consumption is going down faster than expected — future defaults are almost certain, although perhaps not for a few years. So, are tobacco bonds good for i...
If record US crude and gasoline inventories (and soaring US production) were not big enough concerns, oil bulls are starting to lose faith (hedge fund shorts at 12-week highs) after lower growth targets in China and concerns over Russia’s compliance with a global deal to cut oil output sparked renewed worries over a crude oil supply glut. Reuters notes that China on Monday lowered its growth target for the year to 6.5 percent, compared with 6.7 percent last year, and also tightened regulatory controls in an effort to tackle pollution. Investors are watching the moves carefully for signs they could dampen demand for oil. Meanwhi...
Fed Chair Yellen provides hawkish guidance, raising expectations for a March 15th Fed hike U.S. sovereign bond markets price-in 90% odds for a hike Strong view of the economy leads to S&P500 securing 6th consecutive weekly increase USD/JPY adds 1.7% weekly on Fed hike expectations Stock markets and the U.S. Dollar ended the weekly session with a positive note, as Fed Chair Yellen provided guidance that the first hike in 2017 will take place in less than two weeks’ time. After spending most of the Friday session’s morning in the red, the S&P 500 saw substantial buying pressure towards the middle of the session, ending the day wit...
US Census says manufacturing new orders improved. Our analysis agrees – but there are significant “buts”. The rolling averages improved. Analyst Opinion of Census Manufacturing Sales According to the seasonally adjusted data, it was defense and civilian aircraft that was the tailwind. The data in this series is noisy so I would rely on the unadjusted 3 month rolling averages which was improved.. Note that when one inflation adjusts – and removes aircraft, there is a decline in manufacturing. Backlog continues to decline – which should be a major concern. US Census Headline: The seasonally adjusted manufacturing n...