Posts filed under “Markets”
Whats driving the market lower today: European softness, Grexit, Microsoft miss, Cat comments, or something else entirely?
Often, the most accurate answer is we don’t know . . .
Succinct Summations week ending January 23rd Positives: 1. ECB to start a QE of their own; 60 billion a month until September 2016 and markets around the world explode higher 2. Housing starts rose 4.4% in December to an annualized pace of 1.09mm coming in much stronger than the 1.2% and 1.02mm expected. 3. The…Read More
Salil Mehta is a popular statistician and risk strategist, who has developed a unique method to teach quantitative techniques. He blogs at Statistical Ideas. ~~~ We’ve started the year with a sizable downward market pattern, which is making market participants think in ill-advised ways. Eight of the first eleven trading days (S&P 500) were negative. If…Read More
Succinct Summation of Week’s Events Positives: 1) The SNB cries mercy and comes to terms with the fact that it can’t win a currency battle with the ECB. The Swiss people have just dramatically improved the purchasing power of their savings. Also, while highly disruptive to economies and markets in the short term, maybe the…Read More
Succinct Summations week ending January 9th Positives: 1. The U.S. Economy added 252k jobs in December. 2. Unemployment rate fell to 5.6%; Revisions to the jobs report added 50k jobs to each of the prior past two months. 3. U.S. consumer confidence jumped to a seven-year high; 4. ADP’s December private payrolls rose by 241k….Read More
I am excited about our upcoming trip to Seattle! As previously mentioned, I will be in town the week of January 20th to interview Howard Marks at the annual Seattle CFA dinner. I will also be visiting a few clients — and prospective clients — as well. So far, it looks like we be in…Read More
From Deutsche Bank: The ownership structure of US Treasuries is fascinating: 50% is held by foreigners and 20% is held by the Fed. Domestic accounts hold only 30% of Treasuries, down from 75% in the early 1990s, see chart below. Also, attached please find our 105 page update on Who is buying Treasuries, Mortgages, Credit,…Read More
U.S. markets have declined in the new year. This isn’t necessarily a bad thing. When markets go straight up without pause and sentiment becomes excessive, it rarely ends well. A little dose of fear might be a good thing. Which brings me to today’s listicle. These aren’t forecasts, but events I’d like to see happen….Read More