Archive for December, 2016
Tuesday, December 20th, 2016
Via Bloomberg:
Yuan Bears Strike as Capital Outflows Override PBOC’s Support
Bloomberg News
December 20, 2016, 4:00 PM EST
The currency is set for its biggest annual plunge since 1994
Forwards and options show traders see more losses ahead
China’s renewed efforts to curb declines in its currency are doing little to dissuade ...
Posted in Uncategorized | Comments Off on Ursine Sentiment Engulfs Yuan
Tuesday, December 20th, 2016
Via Bloomberg:
GM and Fiat Chrysler Cut Jobs as Sales Swing Toward SUVs
by
David Welch
and
Jamie Butters
December 20, 2016, 7:51 PM EST
Seven plants to trim output of models including Chevy Cruze
SUVs like Chevy’s Trax ‘killing it’ at expense of sedans
For unionized auto workers, even amid a booming U.S. market, the ...
Posted in Uncategorized | Comments Off on Rough Patch for Auto Workers
Tuesday, December 20th, 2016
Via Bloomberg:
Bond Investors Now Losing Most Sleep Over Rising Populism
by
Natasha Doff
December 20, 2016, 8:13 AM EST December 20, 2016, 12:01 PM EST
Politics is the biggest concern for 31% in BofAML’s survey
Investors have “tweaked porfolios” for a more populist worl
Forget Federal Reserve interest rate hikes and rising ...
Posted in Uncategorized | Comments Off on Political Economy
Sunday, December 18th, 2016
Via WSJ:
Bond Selloff Shows Risks of China’s Efforts to Restrain Credit
Central bank’s tightening of short-term credit led to sharp market drops, forcing authorities to reverse course
By
John Lyons and
Rachel Rosenthal
Dec. 18, 2016 7:42 p.m. ET
China’s newly troubled bond market is showing how difficult it will be for Beijing ...
Posted in Uncategorized | Comments Off on Problems in China
Friday, December 16th, 2016
Via Marc Chandler at Brown Brothers Harriman:
Markets Turn Quiet Ahead of the Weekend, Dollar Consolidates Gains
The dollar is consolidating today and the news stream is light
Greek tensions flared up this week, but appear to be subsiding into the weekend
The US report November housing starts
Central Bank of ...
Posted in Uncategorized | Comments Off on FX
Thursday, December 15th, 2016
This is an interesting piece on 30 year swap spreads by my friend and former colleague Steve Liddy. I am reproducing the graphs which he includes but they do not translate well to my low rent retired guy hobby blog. That is entirely my fault and not his.
Via Steve Liddy:
When ...
Posted in Uncategorized | 1 Comment »
Thursday, December 15th, 2016
Via Mark Chandler at Brown Brothers Harriman:
Greenback Extends Gains on Back of Fed
The Federal Reserve delivered the widely expected hike yesterday; Yellen made two important points that ought not to be lost
The SNB kept policy steady and repeated its usual threat to intervene; the Norges Bank surprised many ...
Posted in Uncategorized | Comments Off on FX
Wednesday, December 14th, 2016
Via Robert Sinche at Amherst Pierpont Securities:
The DJIA 14-day RSI touched 85 earlier this morning, the highest 14-day RSI since late November 1996. Interestingly, Former Fed Chair Greenspan discussed “irrational exuberance” in a speech delivered December 5, 1996, about 10 days after that high in the 14-day RSI.
Posted in Uncategorized | Comments Off on Irrational Exuberance Redux
Wednesday, December 14th, 2016
Via TDSecurities:
US: Downbeat November Retail Sales Balanced By Firming Producer Price Pressures
· Retail sales registered a weak 0.1% increase in November, missing expectations for a 0.3% rise. Paired with downward revisions to October, the figures leaving Q4 real consumer spending tracking on a more downbeat note though still consistent ...
Posted in Uncategorized | Comments Off on Data Points Analyzed
Wednesday, December 14th, 2016
Via Bloomberg:
Gundlach Says 10-Year Treasuries Topping 3% Would Punish Markets
by
John Gittelsohn
December 13, 2016, 6:46 PM EST
Manager says U.S. stocks, bonds and housing could suffer
DoubleLine fund has beaten 90% of peers over last three years
Jeffrey Gundlach, chief investment officer of DoubleLine Capital, said interest rates may climb to ...
Posted in Uncategorized | Comments Off on Gundlach Posits 3 Percent 10 year ion 2017