This belongs with the last post on the highly “disturbed dollar” but I felt it deserved its own separate piece to feature downstream of funding. Given the liquidity backdrop describing a broad range of extraordinarily disconcerting prices and liquidity rates, the selloff
December 9, 2015
We’re entering a new stage in the biotech sector. Biotechs are starting to pay dividends.Gilead Sciences (Nasdaq: GILD) recently joined Amgen (Nasdaq: AMGN) as blue-chip biotech stocks that are returning capital to shareholders in the form of dividends. Amgen has paid a dividend
Need a convenient way to fulfill a vow of poverty? Invest in closed-end fund IPOs. Here is the most recent one that I have seen, the AllianzGI Diversified Income & Convertible Fund (ACV). As described in Is The Market Fair? Yes
Surprisingly, to some, the economic news continues to show a marked lack of vitality. In particular, wholesale inventories showed an actual decline, with the prior figure being revised sharply downwards as well. This does not bode well for 4Q GDP.
China is slowing down. This should not be news, nor is this really up for debate. It’s pretty much an accepted fact at this point. But what isn’t known is how aggressively the economy in China is slowing down. Some
Today’s action was more decisive towards bears, with volume rising in confirmed distribution. The Russell effectively confirmed the trendline break and now looking at the 1,140 swing low which marks support of its trading range. Should this be lost, then
Today was a strange one. After last week’s experience (awesome Wednesday, awesome Thursday, terrible Friday), I was already worried that I was going to repeat the same thing (awesome Monday, awesome Tuesday… and then we opened sharply higher Wednesday). I
The problem with exchange rates is that they don’t always tell us anything about what everyone seems to think. In fact, the more wholesale financial exhibitions in a particular currency, the less traditional interpretations conform. In many ways, this is
These are the charts of the hour, you really need little else. It shows a parabolic move in play in business loan charge offs and delinquencies. Normally this is associated with an increase in the Fed funds rate, but today
The chart below crystalizes why the Fed is stranded in a monetary no man’s land. By the time of next week’s meeting the federal funds rate will have been pinned at about 10 bps, or effectively zero, for 84 straight months. Yet during
