Is the S&P 500 index (2035.94) resting or struggling at resistance? Either way, the rather lethargic action the past few sessions is not completely out of the ordinary given the move it has had off February 11th lows. From low … Continued
The following are futures positions of non-commercials as of March 22, 2016. Change is week-over-week. 10-year note: This could not get any funnier. A week after the FOMC statement, and later Janet Yellen, Fed chair, shifted message from hawkish to … Continued
The following are futures positions of non-commercials as of March 15, 2016. Change is week-over-week. 10-year note: Major central banks are in a race as to who can ‘shock and awe’ the markets the most. On January 29th, Haruhiko Kuroda, … Continued
Three months. That is all it took for the Fed to do a 360. In the middle of last December, the fed funds rate was raised for the first time in nine years – to still-zero-bound 37 basis points. The … Continued
Back in the middle of December, when the Fed hiked rates for the first time in nine years, the FOMC’s dot plot optimistically forecasted four quarter-point hikes this year. On December 16th – the day the FOMC statement came out … Continued
U.S. corporate earnings have been in serious deceleration. This is no news. They have been decelerating for a while now. Operating earnings of S&P 500 companies peaked at $29.60 in 3Q14, and have declined for five straight quarters annually. Chart … Continued
“When the facts change, I change my mind. What do you do, sir?” The above remark is often attributed to John Maynard Keynes, the British economist, although some dispute it. Regardless who said it, it is a nice quote. More … Continued
The following are futures positions of non-commercials as of March 8, 2016. Change is week-over-week. 10-year note: The FOMC meets next week, and it is a given. They will stand pat on interest rate, but the dot plot likely sees … Continued
CNBC.com ran an interesting story last Thursday (March 3rd) on resurging home flipping in the U.S. Turns out, according to RealtyTrac, nearly 180,000 family homes and condos were flipped in 2015, making up 5.5 percent of all sales. This was … Continued
The following are futures positions of non-commercials as of March 1, 2016. Change is week-over-week. 10-year note: Unbelievable! The Japanese government is getting paid to borrow money for a decade. For the first time ever, Japan sells 10-year bonds at … Continued