China’s Central Bank hints to have suspended proactive adjustments in the Yuan fixing, a daily reference rate that it issued to the market. On January 9th, the PBOC told that commercial banks, which provide quotes for the Central Bank to
January 9, 2018
Shares of steelmaker AK Steel (AKS) are having a rough day after an analyst at Jefferies lowered his rating on shares. LEVERAGE TO CYCLE MAY UNDERWHELM: Seth Rosenfeld and his team at Jefferies downgraded shares of AK Steel to Hold
WTI/RBOB prices soared once again today amid hopes for an 8th straight week of crude draws (and overall stockpiles near 5y average levels). API did not disappoint with a massive 11.19mm crude draw (biggest since Sept ’16) and continued builds in gasoline
The Bureau of Labor Statistics released the monthly Job Openings and Labor Turnover Survey today showing a relatively minor decrease in job openings through November. The number of job openings was little changed at 5.9 million on the last business day of
With the moves today in the markets Chris made time to join me and share his thoughts. We look at yields, US markets, USD, and politics. Chris’s USD comments are especially noteworthy when looking at its move against currencies other
The current heavy focus on cryptocurrencies has meant less of a spotlight on gold, which has been staging an impressive rally since mid December, and which has seen the precious metal move from the strong platform of support in the
Almost a year ago we warned readers about a potentially very important evolution on the very long term trends which we tend to call secular trends. In this article published early last year Disruption Ahead In Stock And Bond Markets? we explained
The Nikkei chased to record highs today following yesterdays national holiday. Closing at 26year high (+0.6% on the day) was an impressive performance made even more-so, by the fact the Yen strengthened. Trading around the mid 112’s looks comfortable this
It has been well-documented that value stocks have provided higher expected returns than growth stocks. However, there is a great debate about the source of that premium: Is it risk-based or is it related to behavioral errors that create persistent mispricings?
Q4 Earnings Estimates Look Great This has been a remarkable pre-earnings period because the estimates have only moved down 0.3%. As you can see from the chart below, the earnings estimate change has been the best since when they were
