Archive for November, 2015
Monday, November 30th, 2015
Great article on the parlous state of capital spending:
By Eric Morath
Nov. 30, 2015 7:51 p.m. ET
6 COMMENTS
Business investment across the U.S. is fizzling out.
Companies appear reluctant to step up spending on the basic building blocks of the economy, such as machines, computers and new buildings. The broadest measure of U.S. ...
Posted in Uncategorized | Comments Off on Business Investment Fizzles Out
Monday, November 30th, 2015
This Barron's story on equity market technicals posits that it looks alot like 2007. Excellent read.
Via Barron's and click here for the charts which are indispensable in this article:
Stock Charts Remarkably Similar to Those in 2007
Although this year’s fundamentals are nothing like 2007, technicals suggest investors have much to worry ...
Posted in Uncategorized | Comments Off on Back to the Future?
Monday, November 30th, 2015
Via the FT:
Dear future historians: Janet Yellen did not cause the late-2010s recession.
If a Federal Reserve interest rate rise in December is followed in short order by an economic slowdown, the temptation will be to blame the central bank and its chair for a premature tightening of monetary policy. But ...
Posted in Uncategorized | Comments Off on Unfolding Credit Cycle
Monday, November 30th, 2015
This article was out much earlier today on Bloomberg and discusses inflation expectations, resource slack and commodity prices. The article suggests that since inflation expectations are reined in and commodity prices are in the crapper (my paraphrase) and only the labor market is showing signs of life,then any rate hikes ...
Posted in Uncategorized | Comments Off on Metrics the FOMC Watches
Monday, November 30th, 2015
Via Robert Sinche at Amherst Pierpont Securities:
All 27 analysts in the Bloomberg consensus expect the Reserve Bank of Australia (RBA) to hold its policy rate at 2.0% while all 42 analysts surveyed expect the Reserve Bank of India (RBI) to hold its Repo Rate at 6.75%.
AUSTRALIA: The November AiG Manufacturing ...
Posted in Uncategorized | Comments Off on Longest overnight preview ever
Monday, November 30th, 2015
Via Millan Mulraine at TDSecurities:
TD SECURITIES DATAFLASH
US: Chicago PMI Falls Back Below Zero
· The Chicago PMI drifted back into contractionary territory in November, falling to 48.7 from 56.2.
· This was a far weaker performance than the market consensus for a more modest decline to 54.0, marking the 6th month this ...
Posted in Uncategorized | Comments Off on Chicago Purchasers
Monday, November 30th, 2015
Via Bloomberg and thank you to Steve Liddy for forwarding:
There’s a Big Drop in U.S. Treasury Debt Supply Coming in 2016
2015-11-30 11:24:45.925 GMT
By Liz Capo McCormick and Daniel Kruger
(Bloomberg) -- Lost in the debate over the U.S. Treasury
market’s resilience as the Federal Reserve starts to raise
interest rates is one simple ...
Posted in Uncategorized | Comments Off on Lack of Supply
Monday, November 30th, 2015
Via Bloomberg;
WHAT TO WATCH:
* (All times New York)
* Economic Data
* 9:00am: ISM Milwaukee, Nov. (prior 46.66)
* 9:45am: Chicago Purchasing Manager, Nov., est. 54 (prior
56.2)
* 10:00am: Pending Home Sales m/m, Oct., est. 1.5% (prior
-2.3%)
* Pending Home Sales NSA y/y, Oct. (prior 2.5%)
* 10:30am: Dallas Fed Mfg Activity, Nov., est. -12 (prior
-12.7)
* ...
Posted in Uncategorized | Comments Off on What to Watch for Today
Monday, November 30th, 2015
Via Marc Chandler at Brown Brothers Harriman:
Seven Events Next Week that will Shape the Investment Climate
- The week ahead is among the most important of the year
- The divergence in the trajectories of monetary policy has not peaked, or even come close to a peak
- While all Fed tightening events ...
Posted in Uncategorized | Comments Off on More FX
Monday, November 30th, 2015
Via the FT:
Swiss 10-year yield hits new low of -0.41%
31 minutes ago
How low can you go? No, really. This is getting bizarre.
Switzerland's 10-year yield has hit a new record low of minus 0.41 per cent, as anticipation further easing at the ECB's Thursday meeting drags European bond yields ...
Posted in Uncategorized | Comments Off on Negative Yields