Velocity of money one of two components to determine GDP Six years into U.S. economic recovery, velocity remains way suppressed Inability of velocity to rise during monetary expansion raises disinflation/deflation risks It is troubling how this late into the cycle, … Continued
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Small-caps continue to lag their larger brethren RUT sitting on three-month resistance, breakout could be crucial Breakout not probable as bulls have already used up plenty of energy past five weeks Enough ink has been spilled over the issue of … Continued
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Gold continues to show improved price/volume action Not-so-good news on Swiss vote probably overcome by Dutch repatriation news Trend-following hedge funds added to net longs in gold futures, by both raising longs and cutting shorts As suggested a week ago … Continued
VIX:VXV itching to move higher, which could put stocks under pressure VIX suggests calm, but SKEW points to institutions buying tail-risk protection Put-to-call ratios have had extreme readings past several sessions on both CBOE, ISE The S&P 500 Large Cap … Continued
As of October, U.S. corporate bond issuance is on track for another record year — $1.45tn, divided between $1.12tn investment grade and $333.4bn high yield. 2014 will be the fifth consecutive year of $1tn-plus total issuance. It will more than … Continued
Economy was probably not reason why QE2/3 got launched, stock sell-off was One month after QE1/2 ended, stocks began to act sick, prompting Fed into action Year-end rally may or may not happen; impending sell-off to test Fed’s pain threshold … Continued