Archive for April, 2016
Friday, April 29th, 2016
Bloomberg has an interesting article about some discord at the Zero Hedge blog. Apparently there are three Durdens and one has left in an acrimonious departure. I never understood the site's anonymity fetish and the founder was a bit of a megalomaniac as he compared it the anonymity of the ...
Posted in Uncategorized | Comments Off on Zero Hedge Unmasked
Friday, April 29th, 2016
Via Kit Juckes at SocGen:
Good morning. Link to the FX weekly is below. A long (apologies) ramble on real rates, the Fed, the dollar the Euro and the yen. The Fed really doesn't like the dollar - and the desire to see higher inflation before raising rates any further, combined ...
Posted in Uncategorized | Comments Off on Early FX
Thursday, April 28th, 2016
Via Bloomberg:
April 28, 2016 — 9:33 PM EDT
Treasuries are poised to gain through the third quarter and the odds of a Federal Reserve rate increase in June are declining, according to Morgan Stanley.
U.S. 10-year yields will drop to 1.45 percent by Sept. 30, according to the “base case” forecast at ...
Posted in Uncategorized | Comments Off on Don’t be Wrong, Get Long (Says Morgan Stanley)
Thursday, April 28th, 2016
Via the FT:
3 hours ago
by: Eric Platt
Companies have defaulted on obligations at the fastest pace since the US emerged from the financial crisis in 2009, as energy and mining groups continue to reel from commodity price declines.
The number of defaults reached 53 so far this year, the greatest start to ...
Posted in Uncategorized | Comments Off on Default Rally
Thursday, April 28th, 2016
Via Bloomberg:
Slowdown proving sticky as growth falls to weakest since 2014
Fed needs big rebound to justify June move, Riccadonn
This time, you can’t blame it on the weather.
For the third year in a row, the U.S. economy started the year with a dose of the blues as gross domestic ...
Posted in Uncategorized | Comments Off on Why Q1 Slowdown May Persist
Thursday, April 28th, 2016
Via the WSJ:
By THEO FRANCIS and KATE LINEBAUGH
April 28, 2016 3:37 p.m. ET
10 COMMENTS
U.S. corporate profits are set to decline for the third straight quarter, the longest and broadest slide in earnings since the financial crisis, weighed down by the energy slump and slowing growth around the world.
Weakness was felt ...
Posted in Uncategorized | Comments Off on Profit Recession
Thursday, April 28th, 2016
Via Bloomberg:
Obama's Economic Disappointment
APRIL 28, 2016 3:21 PM EST
By
Narayana Kocherlakota
President Barack Obama thinks Americans don’t properly appreciate the benefits of his economic policies -- a view he most recently expressed in an interview with the New York Times. Isolating the effects of any president’s policies is close to impossible. That ...
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Thursday, April 28th, 2016
Via Robert Sinche at Amherst Pierpont Securities:
AUSTRALIA: The lower CPI reported for 1Q2016 opens the potential for additional RBA easing, but the BBerg consensus expects that Private Sector Credit growth to have held at 6.6% YOY in March, a rate of credit growth in excess of nominal GDP growth, a ...
Posted in Uncategorized | Comments Off on Overnight Data Preview
Thursday, April 28th, 2016
Via Chris Low at FTN Financial:
GDP rose 0.5% in the first quarter, less than the 0.7% consensus and the slowest in 2 years, after growing 1.4% in Q4. Consumption slowed to less than 2% for the first time since last year’s first quarter. Business spending fell outright, exports fell and ...
Posted in Uncategorized | 1 Comment »
Thursday, April 28th, 2016
Via Millan Mulraine at TDSecurities:
TD SECURITIES DATAFLASH
US: The Economic Recovery Slows to a Crawl
· US economic recovery slowed for the third consecutive quarter, with the pace of GDP growth declining to 0.5% q/q from 1.4% q/q in Q4.
· The drop in growth momentum was mostly on account of weaker domestic ...
Posted in Uncategorized | Comments Off on Slow Growth in Q1