Archive for March, 2016
Thursday, March 17th, 2016
Via TDSecurities:
US: Philly Fed Index Back In Expansionary Territory
· The Philly Fed index surprised pleasantly, with the headline index rising to a one-year high of 12.4 in March from -2.8.
· The sharp rebound in the index was a far better performance than the market consensus for a more modest rise ...
Posted in Uncategorized | Comments Off on Philly Fed
Thursday, March 17th, 2016
Via Bloomberg:
WHAT TO WATCH:
* (All times New York)
* Economic Data
* 8:30am: Current Account Balance, 4Q, est. -$118b (prior
-$124.1b)
* 8:30am: Philadelphia Fed Business Outlook, March, est.
-1.5 (prior -2.8)
* 8:30am: Initial Jobless Claims, March 12, est. 268k
(prior 259k)
* Continuing Claims, March 5, est. 2.235m (est.
2.225m)
* 9:45am: Bloomberg Economic Expectations, March (prior
42.5)
* Bloomberg ...
Posted in Uncategorized | Comments Off on What to Watch Today
Thursday, March 17th, 2016
Via Marc Chandler at Brown Brothers Harriman:
Dollar Drop Extends Post-Fed; Stocks, Bonds, and Commodities Rally
The Federal Reserve's cautiousness has sent the dollar reeling
The Swiss National Bank did not change its stance; the Norges Bank delivered the widely anticipated 25 bp rate cut
Japan reported a smaller than expected trade surplus in ...
Posted in Uncategorized | Comments Off on FX
Thursday, March 17th, 2016
I suspect this is the reason for equity futures stumble.
Via Bloomberg:
First-quarter adjusted EPS will be in the range of $0.65 - $0.75, vs. estimates of $0.95.
Shares fell 1.5 percent in pre-market trading.
Posted in Uncategorized | Comments Off on Caterpillar Warns
Thursday, March 17th, 2016
Via Bloomberg:
s trading revenue may slide 17%, Credit Suisse analysts say
Executives said to brace for 25% drop in investment banking
As Wall Street leaders warn publicly about this quarter’s plunging revenue from trading and deals, Goldman Sachs Group Inc., the bank most reliant on those operations, has provided no guidance. The ...
Posted in Uncategorized | Comments Off on Tough Times for Goldman Sachs
Thursday, March 17th, 2016
Via Bloomberg (and click here for the charts which do not reproduce well at my low rent retired guy blog!)
Here’s a key takeaway from Japan’s trade data released Thursday: Exports to the U.S., which for most of last year were a bright spot amid slowing demand from China, were almost ...
Posted in Uncategorized | Comments Off on Weak Exports In Japan Paint Gloomy Picture
Thursday, March 17th, 2016
Via Bloomberg;
IG CREDIT: High Volume Secondary Trading Wednesday Session Seen
2016-03-17 09:40:04.893 GMT
By Robert Elson
(Bloomberg) -- Secondary IG trading ended with a Trace
count of $20.6b, the 5th highest Wednesday session on record, vs
$19.3b Tuesday, $20.8b the previous Wednesday.
* 10-DMA $17.9b; 10-Wednesday moving avg $19.1b, a record high
since 2005 when the series ...
Posted in Uncategorized | Comments Off on Corporate Bond Stuff
Thursday, March 17th, 2016
Via Bloomberg:
Euroskeptics find common cause with women's rights activists
Unpopular tax on sanitary products raises $21 million a year
Chancellor of the Exchequer George Osborne is counting on the European Union to help him avoid a parliamentary rebellion over the so-called “tampon tax” as Conservative Euroskeptics join with women’s rights campaigners in ...
Posted in Uncategorized | Comments Off on Taking the Concept of Inelastic Demand Too Far
Thursday, March 17th, 2016
Via Greg Ip at WSJ:
By
Greg Ip
Updated March 16, 2016 8:32 p.m. ET
The Federal Reserve eased monetary policy on Wednesday, and the global economy is safer for it.
No, the Fed didn’t cut interest rates. But monetary policy works through words as well as actions, and Fed officials signaled they ...
Posted in Uncategorized | Comments Off on Greg Ip on FOMC
Thursday, March 17th, 2016
Steve Feiss is a strategist at Government Perspectives and is kind enough to send me stuff each morning. Here is some interesting stuff which was in his note to clients this morning.
Via Steve Feiss at Government Perspectives:
Ø CitiFX Weekly RoundUP (applying techNAmentals TO CPI and bearish 2s and gold):“No pot ...
Posted in Uncategorized | Comments Off on More Market Musings