Archive for November, 2015
Thursday, November 19th, 2015
Insurance company stocks took a battering today on the back of United Health Care's news that it would suffer large losses on policy acquired at the state and federal exchanges mandated by ObamaCare. The nation's largest insurer will not actively market on the exchanges in the current year and is ...
Posted in Uncategorized | 3 Comments »
Thursday, November 19th, 2015
Via Bloomberg:
Prices soar 67% after dry spell in Italy's main growing area
Just a shaving of white truffle quadruples cost of pasta dish
At some of London’s fanciest restaurants, there’s little profit in selling one of the world’s most expensive foods: white truffles.
The mushrooms -- usually sold in shavings by the gram ...
Posted in Uncategorized | Comments Off on Ex food Energy and Truffles
Thursday, November 19th, 2015
Via the FT:
Fed's Fischer: done everything to avoid shock
No surprises please.
Federal Reserve policymakers have done "everything we can" to avoid surprising investors about the timing of a first rise in its key interest rate since the financial crisis, the central bank's deputy chair has said.
In a speech on Thursday largely ...
Posted in Uncategorized | Comments Off on Vice Chair Fischer on Rate Hikes and Transparency
Thursday, November 19th, 2015
Via the WSJ:
By
David Harrison
Nov. 19, 2015 12:20 p.m. ET
The House on Thursday passed a sweeping overhaul of the Federal Reserve’s handling of monetary policy that would require it to abide by a rule in setting interest rates, mandate new audits of the central bank, and restrict its emergency ...
Posted in Uncategorized | Comments Off on Reforming the Fed
Thursday, November 19th, 2015
This Bloomberg article is rather provocative as it presents a case that large numbers of Chinese borrowers are issuing new debt to pay interest on pld debt. The article suggests that is a Ponzi scheme.
Via BloombergNews:
Chinese borrowers are taking on record amounts of debt to repay interest on their existing ...
Posted in Uncategorized | Comments Off on Ponzi Visits China
Thursday, November 19th, 2015
Via the FT:
There's still six weeks of the fourth quarter left for asset managers to polish or rescue their performance, but analysts at Goldman Sachs are already highlighting what they think will be the dominant themes for 2016. fastFT picks out some of them.
'Limited upside' to equities
The US investment bank ...
Posted in Uncategorized | Comments Off on Goldman Sachs Ruminates on 2016
Thursday, November 19th, 2015
Via Robert Sinche at Amherst Pierpont Securities:
JAPAN: The BOJ will release its Monthly Economic Report which may provide insight into the potential for additional policy easing, although the recent weakness of the JPY may limit the need for additional action in the near term; the core CPI increased 0.9% YOY ...
Posted in Uncategorized | Comments Off on Overnight Data Preview
Thursday, November 19th, 2015
United Health Care reported earnings today and those earnings disappointed investors as the stock is taking a battering today. UNH officials laid the blame on ObamaCare and questioned whether or not the company would remain in the exchange program.
Via the WSJ:
By Anna Wilde Mathews
Updated Nov. 19, 2015 8:04 a.m. ET
82 ...
Posted in Uncategorized | 1 Comment »
Thursday, November 19th, 2015
Via Marc Chandler at Brown Brothers Harriman:
Dollar Corrects Lower
- The US dollar is trading heavily today, but the losses are not particularly steep against either the majors or the emerging market currencies – it’s probably more of a technical not a fundamental development
- Japan reported its first trade surplus in ...
Posted in Uncategorized | Comments Off on FX
Thursday, November 19th, 2015
A fully paid up subscriber to AcrosstheCurve.com forwarded this informative piece from Bloomberg on the corporate bond supply pipeline. As is the preponderance of stuff from the good folks at Bloomberg it is a worthwhile read:
IG CREDIT PIPELINE: KIAMTR Add; ICE Expected Today
2015-11-19 10:31:04.54 GMT
By Robert Elson
(Bloomberg) -- Most recent ...
Posted in Uncategorized | Comments Off on Corporate Bond Pipeline