Archive for the ‘Uncategorized’ Category
Thursday, March 16th, 2017
Via Marc Chandler at Brown Brothers Harriman:
Greenback Consolidates Losses as Yields Stabilize
The Fed hike and Dutch election were not very surprising; the surprise of the day was China
The BOJ, SNB, and Norges Bank stood pat; the focus shifts to the BOE
AUD and NZD are under some ...
Posted in Uncategorized | Comments Off on FX
Wednesday, March 15th, 2017
Via Stephen Stanley at Amherst Pierpont Securities:
In addition to the Ides of March and Fed day, today is also the day that the current debt ceiling “expires.” Here’s a brief explanation of what is happening today and what it means. This might be worth filing away somewhere because this will ...
Posted in Uncategorized | 1 Comment »
Tuesday, March 14th, 2017
Via Stephen Stanley at Amherst Pierpont Securities:
The PPI was firmer than expected in February, rising by 0.3% for both the total and core indices. This comes on top of a +0.6%/+0.4% performance in January. Energy prices were somewhat firmer than I had anticipated at the wholesale level, rising by 0.6%, ...
Posted in Uncategorized | Comments Off on Firm PPI Dissected
Friday, March 10th, 2017
Via Blooomberg:
U.S. Subprime Auto Loan Losses Reach Highest Level Since Crisis
2017-03-10 19:55:03.994 GMT
By Matt Scully
(Bloomberg) -- U.S. subprime auto lenders are losing money
on car loans at the highest rate since the aftermath of the 2008
financial crisis as more borrowers fall behind on payments,
according to S&P Global Ratings.
Losses for the loans, ...
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Friday, March 10th, 2017
Via Marc Chandler at Brown Brothers Harriman:
US Jobs Data - Deja Vu All Over Again?
Many seem to recognize the risks of long dollar positions today going into the jobs report
Euro short covering spark came from Draghi, who made it clear that the ECB's risk assessment was shifting toward ...
Posted in Uncategorized | Comments Off on FX
Thursday, March 9th, 2017
Via Marc Chandler at Brown Brothers Harriman:
Pre-ECB Squaring Lifts Euro in a Strong USD Context
Sandwiched in between the ADP estimate and the US jobs data, the ECB meets today
Falling commodity prices and rising US rates have helped take the shine off the Australian dollar
Chinese producer prices ...
Posted in Uncategorized | Comments Off on FX
Wednesday, March 8th, 2017
Via Stephen Stanley at Amherst Pierpont Securities:
The productivity, compensation, and unit labor costs readings for the nonfarm business sector in Q4 were exactly unrevised. Productivity increased at a 1.3% annualized pace, leaving the Q4/Q4 rise unrevised at 1.0% for 2016 (and the average pace since 2011 also held steady at ...
Posted in Uncategorized | Comments Off on Morning Musings
Monday, March 6th, 2017
Via Marc Chandler at Brown Brothers Harriman:
Drivers for the Week Ahead
The week ahead features the ECB meeting and the US February jobs report
Yellen confirmed the likelihood of a rate hike on March 15
Anxiety over European politics remains elevated, but it has eased by nearly any metric one ...
Posted in Uncategorized | Comments Off on FX
Saturday, March 4th, 2017
Via Stephen Stanley at Amgerst Pierpont Securities:
What a difference a week makes. Last Monday, the market was pricing in less than 50-50 odds of a March rate hike and only 1 primary dealer economist (along with myself) was projecting a Fed move this month. By the end of the week, ...
Posted in Uncategorized | Comments Off on Upcoming Week
Friday, March 3rd, 2017
Via Stephen Stanley at Amherst Pierpont Securities:
Today at 1:54 PM
While the newswire headlines are perhaps a bit more emphatic than the actual text of Chair Yellen’s speech, the thrust of her guidance is supportive of a March rate hike. She repeats the framework that she laid out in mid-February to ...
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