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US Foods IPO Is Enticing
Summary The second-largest food services distribution company in the nation, USFD hopes to raise nearly $1 billion in its IPO, set for 5.26.2016. US Foods is hoping to use the proceeds from its IPO to pay towards its debts and to raise its credit profile. A strong underwriting team is led by Goldman Sachs, J.P. Morgan, and Morgan Stanley; and includes BofA, Credit Suisse, Deutsche Bank, and others. We suggest investors consider taking a bite. US Foods Holding Corp. (Pending:USFD) (ticker symbol pending) hopes to raise $950 million through its upcoming IPO, or up to $1,095 million if the additional shares are purchased in full by the underwrit... -
Finance 0
EUR/USD Forecast May 23-27
EUR/USD dropped to lower ground with the greenback doing most of the work. PMIs and two German surveys stand out. Here is an outlook for the highlights of this week and an updated technical analysis for EUR/USD. The Fed meeting minutes put a June rate hike firmly on the table and this was clearly felt in EUR/USD. Data was also OK, with inflation looking relatively solid, especially when compared to the euro-zone. As expected, core euro area inflation was downgraded to 0.7% for April. Is there more to this downtrend or just a mean reversion? Updates: EUR/USD daily graph with support and resistance lines on it. Click to enlarge:... -
Finance 0
USD/CAD To Eye Fresh May Highs On Hawkish Fed Rhetoric, Dovish BoC
Fundamental Forecast for CAD: Neutral USD/CAD Technical Analysis: Can The Bulls Go The Distance? USDCAD Advance to Face Canadian CPI, Retail Sales- Key Support 1.2980 Avoid the pitfalls of trading by steering clear of classic mistakes. Review these principles in the “Traits of Successful Traders” series. The near-term advance in USD/CAD may gather pace in the week ahead should the Bank of Canada (BoC) endorse a dovish outlook for monetary policy, while Federal Reserve officials show a greater willingness to implement higher borrowing-costs over the coming months. The BoC is widely anticipated to retain its current policy at th... -
Finance 0
Weekly Economic & Political Timeline – 5/22/2016
This week can be expected to be less active than the previous week, with Central Bank input due concerning only the Canadian Dollar on Wednesday, although the New Zealand government will be releasing its annual budget on Thursday. There is some important U.S. economic data due on Thursday and Friday. It looks as if the major activity and volatility is going to be centered on the latter half of this week. U.S. Dollar It should be a fairly typical week for the Greenback in terms of news volume. Wednesday will see the release of Crude Oil Inventories. Later, on Thursday, we will get Core Durable Goods Orders and Unemployment Claims. Finally, Fri... -
Finance 0
Why Deutsche Bank Thinks A Fed Rate Hike Would Unleash A Stock Market Crash
Following this week’s FOMC Minutes shows, which violently repriced June rate hike odds from 4% to 30% and July from 20% to 50%, the cries of lenienecy have begun, and nobody is doing so louder than Deutsche Bank which in an overnight credit summary note tries to make it clear that “the market is not ready for a June hike.” Why is Germany’s largest bank, whose stock price is trading just barely above 52 weeks lows and level not seen since the financial crisis so worried? Simple: “the hawkish minutes will weigh on risk, bias yields lower, and flatten the curve” for the simple reason that the Fed is so clueles... -
Finance 0
Weighing The Week Ahead: How Should Investors React To The Oil Price Rally?
This week’s economic calendar is pretty light. Market participants will be looking to an early getaway for the long weekend. While there will be plenty of entertaining FedSpeak, I expect a different topic to be at the fore. Pundits will be asking: Should investors react to the oil price rally? Last Week The news was pretty good, but the stock market was not. Theme Recap In my last WTWA, I predicted that the punditry would be asking whether it was “springtime for housing”. That was the recurring topic as housing news was reported on several different days and garnered plenty of discussion. Competition came from the Fed Minutes, some dr... -
Finance 0
Despite June Hike Talk, Treasury Yields Barely Moved
Bloomberg says a Treasuries Weekly Slide Is Most Since November on Fed Outlook. In contrast, Curve Watchers Anonymous notes treasury yields barely moved. A couple of pictures can help clarify things. US Treasury Yield Curve Monthly Chart US Treasury Yield Curve Monthly Chart Inverted Action Yield on the long bond rose a trivial 3 basis points. Bloomberg noted the 2-year yield “surged 13 basis points this week, the biggest climb since the week ended Nov. 6. The 10-year note yield rose 14 basis points this week, also the most since November.” It’s pretty amazing that the biggest weekly bond selloff in half a year is a measly 1... -
Finance 0
Bakken Update: Oil Hedges In The Wolfcamp And Its Effect On Capping Oil Prices
The recent oil price run up has led many to believe we are headed to the marginal cost of production. (SOURCE: EOG) Most would like prices to move into the range EOG Resources highlights above. $65 to $75/bbl oil provides very good economics in US core unconventional locations and would add to an already impressive gain in the US Oil ETF (NYSEARCA:USO). (Source: Yahoo Finance) The key to this move is its commonality with 2015. It happened a couple of weeks earlier, but the same move last year saw the 50-day (red) intersect with the 100-day green) in mid-May. This bullish move was followed with a relatively flat USO. At the end of June, ... -
Finance 0
BoE Warns Of Weakness, Even Without Brexit
Fundamental Forecast for GBP: Neutral GBP/USD Clears Near-Term Range Ahead of U.K. Retail Sales Report GBP/USD Neckline Re-Test is Bullish If you’re looking for trading ideas, check out our Trading Guides. And if you want something more short-term in nature, check out our SSI indicator. The British Pound put in a strong week of gains through Thursday, snapping the two-week losing streak that the Sterling put in against the US Dollar after running up to a new nine-month high earlier in May. Friday was a markedly different story, as GBP put in an aggressive drop after some interesting commentary from two members of the Bank of England... -
Finance 0
Silver Coins, Production, Demand With Louis Cammarosano
Last week Louis Cammarosano, Smaulgld, and I sat down for our bi-weekly silver update. During that conversation we touched on global silver production and the miners, which is a subject that has not been on the calendar. The miners and silver production is a subject we are both very passionate about and decided to cover what the silver producing countries and primary silver miners are reporting into the major organizations and the shareholders. What was discovered is, not only surprising, but shows a very serious concentration beginning to unfold for both the silver producing countries as well as the silver miners. This confirms everything t...
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