Archive for May, 2016
Friday, May 13th, 2016
Via the FT:
2 hours ago
by: Adam Samson
A measure of the US Treasury yield curve flattened on Friday to levels not seen since early March, reviving once again anxiety about the health of the world’s most important economy.
The spread between 10-year and 2-year US Treasury notes tightened on Friday to as ...
Posted in Uncategorized | Comments Off on Listening to the Yield Curve
Friday, May 13th, 2016
Via Robert Sinche at Amherst Pierpont Securities:
CHINA: The Bberg consensus expects that April Industrial production growth will have slowed to 6.5% YOY from 6.8% in March, but still the 2nd strongest YOY growth rate since June 2015. And the consensus expects that Retail Sales growth will have inched up to ...
Posted in Uncategorized | Comments Off on Weekend Data Preview
Friday, May 13th, 2016
Via the Atlanta Fed:
Latest forecast: 2.8 percent — May 13, 2016
The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2016 is 2.8 percent on May 13, up from 2.2 percent on May 10. After this morning's retail sales report from the U.S. ...
Posted in Uncategorized | Comments Off on GDP Now
Thursday, May 12th, 2016
Via the FT:
24 minutes ago
by: Eric Platt in New York
Outflows from equities have hit nearly $90bn this year, after investors pulled $7.4bn from global funds as they retreated into haven assets for a fifth consecutive week.
The withdrawals have put equities “firmly” on track for their biggest year of redemptions since ...
Posted in Uncategorized | Comments Off on Equity Fund Outflows Continue
Thursday, May 12th, 2016
Via Bloomberg:
Fed chair emphasizes high bar for resorting to negative rates
Policy makers would need to consider ‘wide range of issues’
Federal Reserve Chair Janet Yellen didn’t rule out using negative rates in a future crisis but emphasized that they would be adopted as a last resort.
In written responses Thursday ...
Posted in Uncategorized | Comments Off on Yellen Discusses Negative Rates
Thursday, May 12th, 2016
Via the FT:
9 HOURS AGO
by: Stephen Foley
At the SALT investment conference in Las Vegas this week, delegates have agreed that the collective noun for hedge fund managers is “a herd”, and made crowded trades the hottest topic here in the Nevada heat. So it was refreshing to hear two panellists ...
Posted in Uncategorized | Comments Off on Warning Signal in Options Market
Thursday, May 12th, 2016
Via the WSJ:
By MICHAEL S. DERBY
May 12, 2016 5:38 p.m. ET
Democratic presidential candidate Hillary Clinton joined the fray Thursday in the debate over how the nation’s central bank operates, saying banking industry insiders need to be removed from the Federal Reserve System.
Mrs. Clinton’s campaign said, if elected, she would appoint ...
Posted in Uncategorized | Comments Off on Ms Clinton Weighs in on Federal Reserve Board Control
Thursday, May 12th, 2016
Via Barrons:
Retailers routinely advertise markdowns of 40% or 50%, but every shopper knows that’s off of phony “original” prices that nobody actually pays. Retailers’ shares Wednesday were subjected to markdowns that ran into double digits — but from actual prices.
The proximate causes for the retail rout were the disappointing results ...
Posted in Uncategorized | Comments Off on More on the Retail Debacle
Thursday, May 12th, 2016
Via Bloomberg:
BUS 05/12 20:05 Nordstrom Reports First Quarter 2016 Earnings
BN 05/12 20:10 *NORDSTROM MADE FURTHER ADJ TO INVENTORY & EXPENSE PLANS
BN 05/12 20:09 *NORDSTROM SEES YR NET SALES UP 2.5-4.5%, SAW 3.5-5.5%
BN 05/12 20:09 *NORDSTROM SAW YR COMP SALES 0- 2% BOOST
BN 05/12 20:09 *NORDSTROM CUTS YEAR FORECAST; SHARES FALL ...
Posted in Uncategorized | Comments Off on Nordstrom Joins Retailer Rout
Thursday, May 12th, 2016
Via Bloomberg:
Kohl’s Follows Macy’s Into Tailspin as Retailers’ Rout Persists
2016-05-12 15:51:19.655 GMT
By Lindsey Rupp
(Bloomberg) -- Kohl’s Corp. followed department-store rival
Macy’s Inc. in posting weak results on Thursday, bringing a
second day of suffering to many retail and apparel investors.
Kohl’s posted first-quarter earnings 31 cents a share,
excluding some items, well short of ...
Posted in Uncategorized | Comments Off on More Retail Agony: Kohls Misses