Are U.S. homebuilders getting too aggressive? Makes you wonder. This month, the National Association of Home Builders housing market index rose three points to 64, to a 10-year high. There have been times in the past when builder sentiment ran … Continued
The advance report on durable goods for September was reported this morning, and the disappointing trend continued. Orders for non-defense capital goods ex-aircraft – a proxy for business capital expenditures – were $68.6 billion, down 0.3 percent month-over-month and down … Continued
The following are futures positions of non-commercials as of October 20, 2015. Change is week-over-week. 10-year note: At the press conference following the ECB meeting on Thursday, when asked by a WSJ reporter as to why the bank is fighting … Continued
Back in early August, China engineered a fall in the yuan. Soon followed investor hand-wringing over whether or not it would be selling its Treasury holdings in order to stabilize the currency. The Chinese economy is slowing, and capital outflows … Continued
Stocks of major U.S. banks and brokers are behaving in a way that shorts are probably not very happy with. Should they treat this as a signal or noise? The top six have reported September-quarter results, and it is a … Continued
U.S. corporations have had their share of blame as relates to capital expenditures, wages, etc., but have done a commendable job when it comes to taking advantage of the prevailing low interest-rate environment. Corporate profits have come a long way. … Continued
The following are futures positions of non-commercials as of October 13, 2015. Change is week-over-week. 10-year note: Central bankers were probably busy scratching their heads this week. Despite trillions in quantitative easing and their valiant effort to push inflation above … Continued
Through Wednesday, three major U.S. banks have reported third-quarter results, and if there is one common theme, it is the top line. There is no growth. JPMorgan Chase (JPM) reported revenues of $23.5 billion, versus $25.1 billion last year. For … Continued
The following are futures positions of non-commercials as of October 6, 2015. Change is week-over-week. 10-year note: Since the September 16-17 FOMC meeting, barring comments from hawks like John Williams, president of the San Francisco Fed, and Dennis Lockhart, president … Continued
What exactly would Fed officials be focused on when they decide to hike – or not – rates? It is a fair question given the amount of variance in their message. On Tuesday evening, John Williams, president of the San … Continued