News Room 2016-11-02T11:46:34+00:00

Friday, February 16, 2018

[Bloomberg] U.S. Stocks Fluctuate as Treasuries, Dollar Gain: Markets Wrap [Bloomberg] U.S. Housing Starts Reach Highest Level in More Than a Year [CNBC] US import prices rise more than expected in January [Bloomberg] Cracks Appear [...]

February 15th, 2018|Daily Commentary|

Thursday, February 15, 2018

[Bloomberg] Global Stocks Extend Rebound; Treasuries Decline: Markets Wrap [CNBC] US 10-year yield rises to fresh 4-year high of 2.94% [Bloomberg] Oil Trades Near One-Week High as Stockpile Gains Slow Down [Bloomberg] Dollar Under Siege [...]

February 14th, 2018|Daily Commentary|

Wednesday, February 14, 2018

[Bloomberg] U.S. Stocks Gain as 10-Year Yield Approaches 2.9%: Markets Wrap [Bloomberg] U.S. Consumer Prices Rise More Than Forecast on Apparel Costs [Bloomberg] U.S. Retail Sales Unexpectedly Fall After December Revised Down [Reuters] Euro zone [...]

February 13th, 2018|Daily Commentary|

Tuesday, February 13, 2018

[Bloomberg] Stock Recovery Falters; Yen Rallies With Havens: Markets Wrap [Bloomberg] Record Number of U.S. Small-Business Owners Say It’s a Good Time to Expand [Reuters] Stock market's rout is not impacting the US economic outlook: [...]

February 12th, 2018|Daily Commentary|

Monday, February 12, 2018

[Bloomberg] Stocks Rebound With S&P; Oil Snaps Selloff: Markets Wrap [CNBC] US 10-year Treasury yield climbs back to four-year high [Bloomberg] Record $23 Billion Flees World's Largest ETF [Bloomberg] Volatility’s Awakening Spurs Record Long Position [...]

February 11th, 2018|Daily Commentary|

Sunday, February 11, 2018

[Bloomberg] Bond-Stock Clash Has Just Begun as Inflation Looms [Reuters] ECB concerned about U.S. political influence on exchange rates: Nowotny [Reuters] IMF's Lagarde says market swings aren't worrying, but wants reforms [Reuters] Iran displays missile, [...]

February 11th, 2018|Daily Commentary|

Saturday, February 10, 2018

[CNBC] Big-spending budget pact rattles markets, threatens 'next fiscal crisis' [Reuters] Investors brace for more swings as U.S. inflation specter rises [Bloomberg] Junk-Bond Selling Accelerates at End of Jittery Week in Markets [FT] The end [...]

February 10th, 2018|Daily Commentary|

Friday, February 9, 2018

[Bloomberg] Global Stocks Selloff Deepens; Treasuries Steady: Markets Wrap [Reuters] Chinese stocks crushed as 'bulls kill bulls' in exit stampede [Bloomberg] U.S. Stock-Index Futures Fluctuate as Week of Woe Draws to Close [Bloomberg] Oil Drops [...]

February 8th, 2018|Daily Commentary|

Thursday, February 8, 2018

[Bloomberg] Stocks Hunt for Direction Amid Turmoil; Yuan Drops: Markets Wrap [Bloomberg] Oil Extends Biggest Drop in Two Months as Dollar and Shale Weigh [AP] Senate leaders’ budget deal faces opposition in both parties [Reuters] [...]

February 7th, 2018|Daily Commentary|

Wednesday, February 7, 2018

[Bloomberg] U.S. Stocks Waver as Jitters Linger; Europe Rises: Markets Wrap [Reuters] Fed's Kaplan says market correction healthy, sees no economic impact [Bloomberg] Congress Seeking Bigger Budget Deal While Avoiding Shutdown [Bloomberg] World's Largest ETF [...]

February 6th, 2018|Daily Commentary|

Tuesday, February 6, 2018

[Bloomberg] Stocks Slump as Selloff Deepens; Treasuries Steady: Markets Wrap [CNBC] Global stocks plunge as sell-off spreads around the world [CNBC] Key measure of market volatility — the VIX — jumps above 50, highest level [...]

February 5th, 2018|Daily Commentary|

Monday, February 5, 2018

[Bloomberg] Stock Selloff Deepens; Dollar Steady as Gold Gains: Markets Wrap [Reuters] Dollar steadies as U.S. jobs data fan inflation expectations, send bond yields up [Bloomberg] Global Rout Takes Hold of Junk-Bond and Emerging-Market Funds [...]

February 4th, 2018|Daily Commentary|

Sunday, February 4, 2018

[Bloomberg] Bond Market's Debt-Ceiling Alarm Bell Is Ringing Loud and Clear [Washington Post] Analysis: Government set to borrow nearly $1 trillion this year [MarketWatch] Risk of market contagion has reached a 6-year high, Deutsche Bank [...]

February 4th, 2018|Daily Commentary|

Saturday, February 3, 2108

[CNBC] Scary Friday could lead to scary Monday for markets [CNBC] Janet Yellen exits the Fed on Friday amid heavy praise and bitter criticism [Reuters] With an eye on Russia, U.S. to increase nuclear capabilities [...]

February 3rd, 2018|Daily Commentary|

Friday, February 2, 2018

[Bloomberg] Treasuries Fall, Dollar Gains on Jobs, Wages Data: Markets Wrap [Bloomberg] U.S. Added 200,000 Jobs in January; Wages Rise Most Since 2009 [CNBC] US 10-year Treasury yield jumps to 4-year high of 2.83% after [...]

February 1st, 2018|Daily Commentary|

Thursday, February 1, 2018

[Bloomberg] U.S. Stocks Fall on Tech Weakness, Bonds Pare Loss: Markets Wrap [Bloomberg] U.S. Productivity Fell Last Quarter to Extend Sluggish Run [Politico] GOP faces new shutdown threat from within [Reuters] China January factory growth [...]

January 31st, 2018|Daily Commentary|

Wednesday, January 31, 2018

[Bloomberg] Stock Declines Ease as Dollar Drops; Oil Retreats: Markets Wrap [Reuters] Trump urges Congress to help stimulate $1.5 trillion in infrastructure spending [Bloomberg] Inflation Debate Grips Fed as Yellen Exits: Decision-Day Guide [Bloomberg] U.S. [...]

January 30th, 2018|Daily Commentary|

Tuesday, January 30, 2018

[Bloomberg] U.S. Stocks Drop for a Second Day; Oil Declines: Markets Wrap [Reuters] World stocks sucked under by bond market breakout [Bloomberg] Health Stocks Fall After Amazon, JPMorgan, Berkshire Announce Health-Care Deal [CNBC] Trump advisor [...]

January 29th, 2018|Daily Commentary|

Monday, January 29, 2018

[Bloomberg] Treasuries Slide, Dollar Gains as Busy Week Begins: Markets Wrap [Bloomberg] U.S. Consumer Spending Rose in December, Saving Rate Dipped [Bloomberg] China H Shares Are Testing History With Wildest Swings Since '07 [Bloomberg] Goldman [...]

January 28th, 2018|Daily Commentary|

Sunday, January 28, 2018

[Bloomberg] Knot Says QE Program Must End `As Soon As Possible' [Bloomberg] Bond Traders' Wild Ride in 2018 Is About to Kick Into Overdrive [Reuters] Erdogan says Turkey will clean entire Syrian border of terrorists [...]

January 28th, 2018|Daily Commentary|

Saturday, January 27, 2018

[Reuters] China to review anti-dumping duties on U.S., E.U. industrial solvents [NYT] Every One of the World’s Big Economies Is Now Growing [WSJ] My 10-Year Odyssey Through America’s Housing Crisis [FT] How long can emerging [...]

January 27th, 2018|Daily Commentary|

Friday, January 26, 2018

[Bloomberg] Dollar Stays Lower After GDP, Trump; Stocks Gain: Markets Wrap [Reuters] World stocks party like its '99, dollar wilts again [Bloomberg] U.S. GDP Grows Below-Forecast 2.6% on Trade, Inventory Drags [Bloomberg] Trump warns Davos [...]

January 25th, 2018|Daily Commentary|

Thursday, January 25, 2018

[Bloomberg] Dollar Extends Drop After Draghi; U.S. Stocks Rise: Markets Wrap [Bloomberg] ECB Keeps Policy Unchanged as Euro Gains Risk Curbing Inflation [Bloomberg] Draghi Sees Inflation Optimism in Recovery But Euro a Concern [Bloomberg] Draghi [...]

January 24th, 2018|Daily Commentary|

Wednesday, January 24, 2018

[Bloomberg] Dollar Woes Deepen as Stocks Edge Up; Gold Rallies: Markets Wrap [Reuters] Dollar skids to three-year low as Mnuchin welcomes currency weakness [CNBC] A weaker dollar is good for the US, Treasury Secretary Mnuchin [...]

January 23rd, 2018|Daily Commentary|

Tuesday, January 23, 2018

[Bloomberg] Treasuries Rally After BOJ; U.S. Stocks Fluctuate: Markets Wrap [Reuters] Trump slaps steep U.S. tariffs on imported washers, solar panels [Reuters] Asia fears U.S. tariffs on washing machines, solar panels just the start [Politico] [...]

January 22nd, 2018|Daily Commentary|

Monday, January 22, 2018

[Bloomberg] Stocks Mixed, Dollar Flat as Shutdown Continues: Markets Wrap [The Hill] Shutdown grinds into workweek after Senate fails to clinch deal [Bloomberg] Government Shutdown Starts to Bite, Raising Political Stakes [Bloomberg] Senate at Impasse [...]

January 21st, 2018|Daily Commentary|

Sunday, January 21, 2018

[The Hill] Playing blame game over shutdown springs both parties in the hot seat [CNN] White House targets filibuster, calls for 'nuclear option' as shutdown enters day 2 [CNBC] High-tax states plan workarounds to the [...]

January 21st, 2018|Daily Commentary|

Saturday, January 20, 2018

[Reuters] Government shuts down as Trump feuds with Democrats [Reuters] What happens in a U.S. government shutdown? [Reuters] China accuses U.S. warship of violating its sovereignty [Reuters] Turkish military operation in Syria's Afrin has begun: [...]

January 20th, 2018|Daily Commentary|

Friday, January 19, 2018

[Bloomberg] Dollar Pressured as Treasuries Steady; Stocks Rise: Markets Wrap [CNBC] 'Shutdown coming?' All eyes are on divided Senate, Trump as deadline threatens [CNBC] House passes bill to avoid a government shutdown. Now comes the [...]

January 18th, 2018|Daily Commentary|

Thursday, January 18, 2018

  [Bloomberg] U.S. Treasury Yield Hits 2.6%; Europe Stocks Mixed: Markets Wrap [Reuters] Strong China data cranks up pressure on bond markets [Bloomberg] U.S. Housing Starts Fall More Than Expected While Permits Steady [Reuters] Republicans [...]

January 17th, 2018|Daily Commentary|

Wednesday, January 17, 2018

[Bloomberg] Stocks Rise as BofA Continues Strong Bank Earnings: Markets Wrap [Bloomberg] House GOP Bid to Avert Shutdown Gains Steam as Deadline Near [Bloomberg] U.S. Manufacturing Output Rose in December for a Fourth Month [CNBC] [...]

January 16th, 2018|Daily Commentary|

Tuesday, January 16, 2018

[Bloomberg] Stocks Race to Records as Big Banks Show Strength: Markets Wrap [Bloomberg] Yuan Strength Leaves Market Guessing at China's Line in the Sand [Bloomberg] Bitcoin Tumbles 20% as Fears of Cryptocurrency Crackdown Linger [Bloomberg] [...]

January 15th, 2018|Daily Commentary|

Monday, January 15, 2018

[Bloomberg] Dollar Slide Deepens as Euro Strength Saps Stocks: Markets Wrap [Bloomberg] Metals Power Higher as Sickly Dollar Spurs Copper-to-Gold Rally [Reuters] BOJ's Kuroda sounds more positive on prices, yen hits four-month high [Bloomberg] China [...]

January 14th, 2018|Daily Commentary|

Sunday, January 14, 2018

[Reuters] China to step up banking oversight in 'arduous' fight on financial risks [Reuters] Trump, Lighthizer discuss China, NAFTA trade talks: White House [Reuters] Merkel could join Macron in Davos for epic clash with Trump [...]

January 14th, 2018|Daily Commentary|

Friday, January 12, 2018

[Bloomberg] Treasuries Fall, Stocks Rise on Price Data: Markets Wrap [Bloomberg] U.S. 2-Year Yield Tops 2% for First Time Since Financial Crisis [Reuters] U.S. core consumer prices post biggest gain in 11 months [Bloomberg] Gain [...]

January 11th, 2018|Daily Commentary|

Thursday, January 11, 2018

[Bloomberg] U.S. Stocks Rise, Dollar Slips With Bonds Steady: Markets Wrap [Bloomberg] Oil Trades at Three-Year High After U.S. Stockpiles Drop Again [Reuters] U.S. producer prices fall; jobless claims up for fourth straight week [Bloomberg] [...]

January 10th, 2018|Daily Commentary|

Wednesday, January 10, 2018

[Bloomberg] Treasuries, Stocks Slump on China as Dollar Falls: Markets Wrap [Bloomberg] Treasuries Slide as China Said to View Them as `Less Attractive' [Reuters] Bond yields hit multi-month highs on report China may slow U.S. [...]

January 9th, 2018|Daily Commentary|

Tuesday, January 9, 2018

[Bloomberg] U.S. Stocks at Records as Dollar Gains, Bonds Fall: Markets Wrap [Bloomberg] Wall Street's Rising Euphoria May Spell Trouble for Stock Market [Politico] Republicans: Budget deal prospects are dimming [Bloomberg] Yen's Spike Shows Taste [...]

January 8th, 2018|Daily Commentary|

Monday, January 8, 2018

[Bloomberg] U.S. Stocks Mixed as Dollar Gains With Crude Oil: Markets Wrap [Bloomberg] Equity Euphoria Grips the Entire World [Bloomberg] Fed Eyes Financial Conditions as Possible Source of Inflation [Politico] White House preparing for trade [...]

January 7th, 2018|Daily Commentary|

Sunday, January 7, 2018

[Reuters] ECB should fix date to end bond purchases: Weidmann [Reuters] Fed officials are already plotting how to combat the next downturn [Bloomberg] White House Doesn't See Need for Faster Fed Hikes [CNBC] By all [...]

January 7th, 2018|Daily Commentary|

Saturday, January 6, 2018

[Reuters] China tightens rules on commercial lender shareholders, entrusted loans [Reuters] Businesses cautious in installing patches to fix chip flaw [FT] Bull or bear? The big issues fund managers face in 2018

January 6th, 2018|Daily Commentary|

Friday, January 5, 2018

[Bloomberg] Bond Pare Gains, Stocks Higher After Jobs Report: Markets Wrap [Bloomberg] U.S. Added Fewer Jobs Than Expected in December [Bloomberg] U.S. Trade Deficit Balloons to Widest in Almost Six Years [Bloomberg] Global Debt Hits [...]

January 4th, 2018|Daily Commentary|

Thursday, January 4, 2018

[Bloomberg] Stocks Rise on Global Growth Outlook; Dollar Slips: Markets Wrap [CNBC] Treasury yields climb after jobs data blows past estimates [Reuters] Oil hits highest since 2015 as Iran unrest spooks market [Bloomberg] Companies in [...]

January 3rd, 2018|Daily Commentary|

Wednesday, January 3, 2018

[Bloomberg] Dollar Halts Slide; U.S. Stocks at Record Highs: Markets Wrap [Reuters] Oil hits new two-and-a-half year highs as higher output looms [Bloomberg] Manufacturing in U.S. Accelerates to Cap Best Year Since '04 [Bloomberg] Ford, [...]

January 2nd, 2018|Daily Commentary|

Tuesday, January 2, 2018

[Bloomberg] European Stocks Slide; Dollar Extends Decline: Markets Wrap [Reuters] Oil posts strongest year opening since 2014; Iran unrest pushes up crude [Bloomberg] Global Manufacturers Strain to Keep Up With Faster Economy [Reuters] Asian factories [...]

January 1st, 2018|Daily Commentary|

Monday, January 1, 2018

[Reuters] As U.S. budget fight looms, Republicans flip their fiscal script [CNBC] Here are three key global themes set to dominate markets in 2018 [Bloomberg] How China Will Shake Up the Oil Futures Market [AP] [...]

January 1st, 2018|Daily Commentary|

Sunday, December 31, 2017

[Bloomberg] China Factory Momentum Remains Intact Amid Smog and Debt Curbs [Bloomberg] China December official services PMI edges up to 55 [Bloomberg] Trump Says World Watching Iran as Hardliners Hold Counterrallies [WSJ] China’s HNA Group [...]

December 30th, 2017|Daily Commentary|

Saturday, December 30, 2017

[Reuters] ECB's Coeure sees 'reasonable chance' bond buys will not be extended [Reuters] China to cap overseas withdrawals using domestic bank cards [NYT] Why Are Mutual Fund Fees So High? This Billionaire Knows

December 30th, 2017|Daily Commentary|

Friday, December 29, 2017

[Bloomberg] U.S. Stocks Mixed, Euro Seeks Best Year Since '03: Markets Wrap [Reuters] U.S. oil prices climb to highest since mid-2015 on surprise output drop [CNBC] Fed could surprise markets with more interest rate hikes [...]

December 28th, 2017|Daily Commentary|

Thursday, December 28, 2017

[Bloomberg] Dollar, Treasuries Decline as Stocks Edge Higher: Markets Wrap [Reuters] Gold hits 1-month high as dollar weakens further [Reuters] Oil prices near 2015 highs on tight market [Bloomberg] Bitcoin Tumbles Over Exchange-Closure Fears [Bloomberg] [...]

December 27th, 2017|Daily Commentary|

Wednesday, December 27, 2017

Bloomberg] U.S. Stocks Fluctuate as Dollar Drops, Bonds Gain: Markets Wrap [Bloomberg] Copper Rallies to Three-Year High as China Plant Halts Output [Bloomberg] China Beige Book Sees Signs of Shift to Slower Growth Already [Bloomberg] [...]

December 26th, 2017|Daily Commentary|

Tuesday, December 26, 2017

[Bloomberg] Apple Drags Down Tech Shares as Gold, Oil Advance: Markets Wrap [Bloomberg] Home Prices in 20 U.S. Cities Increase by Most Since 2014 [Bloomberg] U.S. IPOs Bounce Back: Five Key Measures of 2017's Listings [...]

December 25th, 2017|Daily Commentary|

Monday, December 25, 2017

[Bloomberg] U.S. Dollar Rises With Ruble Amid Holiday Lull: Markets Wrap [Bloomberg] China Signals Slower Growth Is Acceptable to Tackle Debt, Smog [Bloomberg] China Central Bank Official Says Bankruptcy May Benefit the Country [Bloomberg] Analysts [...]

December 25th, 2017|Daily Commentary|

Sunday, December 24, 2017

[Bloomberg] Digital Coins Resume Selloff as Recovery Fizzles [Bloomberg] The Year in Money [Reuters] North Korea says new U.N. sanctions an act of war [WSJ] Spending, Deficit Concerns Arise With New Tax Law

December 24th, 2017|Daily Commentary|

Saturday, December 23, 2017

[Reuters] Oil producers to discuss exit plans from cuts once market near balance: Russia [CNBC] California's monster Thomas fire becomes largest-ever wildfire in state history [Spiegel] Merkel's Difficult Road to a Coalition [WSJ] One Thing [...]

December 23rd, 2017|Daily Commentary|

Friday, December 22, 2017

[Bloomberg] Europe Stocks Slide on Catalan Poll; Dollar Gains: Markets Wrap [Bloomberg] U.S. Consumer Spending Tops Forecasts as Inflation Accelerates [Bloomberg] Catalan Separatists Cheer Puigdemont as Rajoy Handed a Drubbing [Reuters] Japan's record financial year [...]

December 21st, 2017|Daily Commentary|

Thursday, December 21, 2017

[Reuters] Wall Street opens higher after GDP data [CNBC] House unveils 'clean' spending bill to fund the government through January 19 [Bloomberg] Subprime Auto Defaults Are Soaring, and PE Firms Have No Way Out [Reuters] [...]

December 20th, 2017|Daily Commentary|

Wednesday, December 20, 2017

[Bloomberg] Treasuries Down, Stocks Up as Tax Bill Progresses: Markets Wrap [Bloomberg] Oil Gains on Signals U.S. Stockpiles Fell More Than Expected [Bloomberg] Senate Passes U.S. Tax Overhaul Putting Trump on Brink of Big [...]

December 19th, 2017|Daily Commentary|

Tuesday, December 19, 2017

[Bloomberg] Stocks Mixed as Euro Climbs; Treasuries Decline: Markets Wrap [Bloomberg] U.S. Single-Family Housing Starts Rise to Highest in a Decade [CNBC] Holiday spending on track to be highest in at least 12 years: CNBC [...]

December 18th, 2017|Daily Commentary|

Monday, December 18, 2017

[Bloomberg] Stocks Gain on U.S. Tax Plan; Treasuries Decline: Markets Wrap [Reuters] Republicans confident tax bill to become law this week [Bloomberg] Market's Extreme Calm Will Likely Become a Thing of the Past [Bloomberg] HNA [...]

December 17th, 2017|Daily Commentary|

Sunday, December 17, 2017

[Reuters] No. 2 U.S. Senate Republican expects tax bill will pass, eyes Tuesday [NYT] What’s in the Tax Bill, and How It Will Affect You [WSJ] The Fast and the Financed: China’s Well-Funded Auto Startups [...]

December 17th, 2017|Daily Commentary|

Saturday, December 16, 2017

[Bloomberg] GOP Charges to Tax-Cut Finish Line [Bloomberg] GOP Tax Plan Sets Higher Rate Than Expected on Offshore Earnings [Bloomberg] Merkel Ally Draws Red Line in Talks [NYT] The Next Crisis for Puerto Rico: A [...]

December 16th, 2017|Daily Commentary|

Friday, December 15, 2017

[Bloomberg] U.S. Stocks Rise, Dollar Steady Amid Tax Debate: Markets Wrap [Bloomberg] Here’s Where the GOP Tax Plan Stands Right Now [The Hill] Obstacles emerge as GOP races to tax finish [CNBC] Changes coming in [...]

December 14th, 2017|Daily Commentary|

Thursday, December 14, 2017

[Bloomberg] U.S. Stocks Rise, Euro Slips on ECB Inflation View: Markets Wrap [Bloomberg] U.S. Retail Sales Jump More Than Forecast in Broad Advance [Reuters] U.S. import prices surge in November [Bloomberg] Two GOP Senators Slam [...]

December 13th, 2017|Daily Commentary|

Wednesday, December 13, 2017

[Bloomberg] Dollar Drops After Alabama Vote; Asia Stocks Mixed: Markets Wrap [Bloomberg] U.S. Inflation Picks Up on Energy Costs; Core Gauge Slows [Bloomberg] Fed 2018 Dots in Focus for Yellen Swan Song: Decision Day Guide [...]

December 12th, 2017|Daily Commentary|

Tuesday, December 12, 2017

[Bloomberg] Stocks Push Higher as Oil Rises; Dollar Steadies: Markets Wrap [Reuters] Oil hits two-year-and-a-half year high on pipeline shutdown [Reuters] U.S. producer prices rise strongly, point to firming inflation [CNBC] How the Fed could [...]

December 11th, 2017|Daily Commentary|

Monday, December 11, 2017

[Bloomberg] U.S. Stocks Rise Despite NYC Explosion; Gold Falls: Markets Wrap [Bloomberg] Bitcoin Futures Start With a Bang as Gain Trips Circuit Breakers [Reuters] Powell faces early test of policy view as tax cuts near [...]

December 10th, 2017|Daily Commentary|

Saturday, December 9, 2017

[Bloomberg] With the U.S. Going Rogue, World Fumbles for New Trade Consensus [Bloomberg] China Factory Inflation Eases as Consumer Prices Remain Subdued [Bloomberg] Steinhoff Seeks to Defuse Accounting Scandal [FT] Pool of negative yielding bonds [...]

December 9th, 2017|Daily Commentary|

Friday, December 8, 2017

[Bloomberg] U.S. Stocks Rise, Dollar Holds Gain on Jobs: Markets Wrap [Bloomberg] Oil Rises, Paring Weekly Decline After Chinese Imports Increase [Bloomberg] U.S. Payrolls Rise 228,000 While Wages Gain Less Than Forecast [Reuters] What's in [...]

December 7th, 2017|Daily Commentary|

Thursday, December 7, 2017

[Bloomberg] Dollar Rises to Two-Week High; Stocks Erase Gains: Markets Wrap [Bloomberg] Commodities Crumble Again as China Alarm Bells Sink Metals [CNBC] Bitcoin tops $15,000, surging more than $3,000 in less than 36 hours [Bloomberg] [...]

December 6th, 2017|Daily Commentary|

Wednesday, December 6, 2017

[Bloomberg] U.S. Stocks Avoid Worst of Selloff as Bonds Climb: Markets Wrap [Reuters] House tax positions begin to emerge ahead of talks with Senate [CNBC] Here's what the Senate's tax bill means for your wallet [...]

December 5th, 2017|Daily Commentary|

Tuesday, December 5, 2017

[Bloomberg] U.S. Tech Shares Rebound as Metals Fall With Pound: Markets Wrap [Bloomberg] U.S. Trade Deficit Is Widest Since January [Bloomberg] Growth in U.S. Service Industries Cools From a 12-Year High [Bloomberg] State Street Says [...]

December 4th, 2017|Daily Commentary|

Monday, December 4, 2017

[Bloomberg] Stocks Jump With Dollar on Tax Plan as Yields Rise: Markets Wrap [Politico] Congress faces frantic week with possible shutdown, taxes, Russia [Bloomberg] Congress Talks Tax Deal as Trump Signals Corporate Rate Retreat [Bloomberg] [...]

December 3rd, 2017|Daily Commentary|

Sunday, December 3, 2017

[Reuters] Greece, lenders reach deal on reforms under bailout review [Reuters] Turkey's Erdogan says businessmen moving assets abroad are 'traitors' [FT] Big six US banks add $170bn to trading firepower

December 3rd, 2017|Daily Commentary|

Saturday, December 2, 2017

[Bloomberg] Senate Passes Major Business, Individual Cuts: Tax Debate Update [Bloomberg] The Biggest Sticking Points Between Senate and House Tax Bills [Reuters] Fear of missing out keeps investors in stocks despite risks [Reuters] China airs [...]

December 2nd, 2017|Daily Commentary|

Friday, December 1, 2017

[Bloomberg] U.S Stocks Mixed After Rally, Treasuries Advance: Markets Wrap [Bloomberg] European Stocks Hit Two-Week Low as Tech Shares Extend Selloff [Bloomberg] Oil Extends Gains as OPEC Prolongs Production Curbs Through 2018 [Bloomberg] China Stocks [...]

November 30th, 2017|Daily Commentary|

Thursday, November 30, 2017

[Bloomberg] U.S. Stocks Gain on FANG Rebound as Crude Climbs: Markets Wrap [Reuters] Senate tax drama enters complicated end-game [Bloomberg] U.S. Consumer Spending Cools While Inflation May Encourage Fed [Bloomberg] Bank of Korea Leads the [...]

November 29th, 2017|Daily Commentary|

Wednesday, November 29, 2017

[Bloomberg] Stocks Gain With Tax, Data in Focus; Pound Rises: Markets Wrap [Bloomberg] U.S. Third-Quarter Growth Revised Up to 3.3%, Three-Year High [Reuters] Senate Republicans shove tax bill ahead as Democrats fume [CNBC] Bitcoin surges [...]

November 28th, 2017|Daily Commentary|

Tuesday, November 28, 2017

[Bloomberg] Stocks Rise as Energy Shares Jump; Dollar Steady: Markets Wrap [Reuters] U.S. goods trade deficit widens in October, inventories fall [Bloomberg] Home Prices in 20 U.S. Cities Rise by Most Since Mid-2014 [Reuters] Fed [...]

November 27th, 2017|Daily Commentary|

Monday, November 27, 2017

[Bloomberg] Stocks Struggle as Metal Prices Drop; Dollar Slips: Markets Wrap [Bloomberg] China Shares Resume Decline as Year's Top Performers Take a Hit [Bloomberg] Bitcoin Guns For $10,000 as Cryptocurrency Mania Intensifies [Bloomberg] Here’s Where [...]

November 26th, 2017|Daily Commentary|

Sunday, November 26, 2017

[Reuters] Black Friday, Thanksgiving online sales climb to record high [Bloomberg] Bond Traders Start to See Crack in Fed's Resolve About Inflation [Reuters] Bavaria boss backs SPD tie-up as consensus grows for German grand coalition [...]

November 26th, 2017|Daily Commentary|

Saturday, November 25, 2017

[[CNBC] Big week for markets with Fed's Powell confirmation hearing and Yellen testimony [Reuters] China online finance regulator tells unqualified micro-lenders to stop lending [CNBC] The Fed launched QE nine years ago — these four [...]

November 25th, 2017|Daily Commentary|

Friday, November 24, 2017

Bloomberg] Stocks Climb as Retailers Gain on Black Friday: Markets Wrap [Bloomberg] Oil Rises as Russia and OPEC Said to Reach Outline Deal on Cuts [Bloomberg] Germany's SPD Decides to Accept Negotiations With Merkel [Bloomberg] [...]

November 24th, 2017|Daily Commentary|

Thursday, November 23, 2017

[Bloomberg] European Stocks Erase Losses; Dollar Extends Drop: Markets Wrap [Bloomberg] Chinese Stocks Tumble Most in 17 Months as Bond Selloff Spreads [Reuters] China stocks suffer mauling, Fed leaves dollar in a daze [Bloomberg] What [...]

November 22nd, 2017|Daily Commentary|

Wednesday, November 22, 2017

[Bloomberg] Dollar, Bonds Slip as Stocks Rise; Pound Swings: Markets Wrap [Bloomberg] Oil Climbs to Two-Year High as Stockpiles Fall Before OPEC Meets [Bloomberg] U.S. Business Equipment Orders Fall for First Time Since June [Reuters] [...]

November 21st, 2017|Daily Commentary|

Tuesday, November 21, 2017

[Bloomberg] Global Stocks Gain as Bonds Rise; Dollar Slips: Markets Wrap [Bloomberg] People Are Suddenly Worried About the Yield Curve Flattening [Politico] Congress speeds toward shutdown over Dreamers [Bloomberg] ECB Is Said Likely to Take [...]

November 20th, 2017|Daily Commentary|

Monday, November 20, 2017

[Bloomberg] Dollar Rises as Treasuries Drop; Stocks Rebound: Markets Wrap [Bloomberg] Merkel’s Attempt to Form a New German Government Collapses [Bloomberg] China Clampdown Signals ‘New Era’ for $15 Trillion in Funds [CNBC] Chinese shadow banking [...]

November 19th, 2017|Daily Commentary|

Sunday, November 19, 2017

[Reuters] 'No fireworks' at NAFTA talks, but few signs of progress [Bloomberg] Merkel Faces Endgame for Next German Government in Party Talks [Bloomberg] Zimbabwe Ruling-Party Leaders Gather to Decide Mugabe's Fate [WSJ] Is This the [...]

November 19th, 2017|Daily Commentary|

Saturday, November 18, 2018

[Bloomberg] China Home Prices Stop Three-Month Drop as Market Stabilizes [Reuters] Global banks flag concerns over U.S. Senate tax proposal [Reuters] German parties regroup for last-ditch coalition push [Reuters] Zimbabwe protesters begin marching towards Mugabe residence

November 18th, 2017|Daily Commentary|

Friday, November 17, 2017

[Bloomberg] U.S. Stocks Decline With Dollar as Treasuries Rise: Markets Wrap [Bloomberg] Oil Climbs as Saudi Arabia Seeks to Dispel Doubts Over Russia [Bloomberg] U.S. Home Starts Reach Highest Level in a Year, Permits [...]

November 16th, 2017|Daily Commentary|

Thursday, November 16, 2017

[Bloomberg] Stocks Regain Ground; Euro Slips, Dollar Edges Up: Markets Wrap [Reuters] Congress poised for a major test on tax legislation [AP] GOP muscling tax bill through House; hits senator roadblock [Bloomberg] Fed Insiders [...]

November 15th, 2017|Daily Commentary|

Wednesday, November 15, 2017

[Bloomberg] Stocks Slide With Dollar as Treasuries Advance: Markets Wrap [Reuters] Oil prices slide after IEA casts doubt over demand outlook [Bloomberg] U.S. Core-Inflation Gauge Picks Up for First Time Since January [Bloomberg] Here’s [...]

November 14th, 2017|Daily Commentary|

Tuesday, November 14, 2017

[Bloomberg] U.S. Stocks, Greenback Decline as Euro Advances: Markets Wrap [Bloomberg] Wholesale Prices in U.S. Rose More Than Forecast in October [Bloomberg] Here’s Where the GOP Tax Plan Stands Right Now [Reuters] Risks ahead [...]

November 13th, 2017|Daily Commentary|

Monday, November 13, 2017

[Bloomberg] Stocks Drop as Bonds Gain; Sterling Under Pressure: Markets Wrap [Bloomberg] Emerging-Market Bonds See Biggest Yield Jump Since Trump Victory [Reuters] Bitcoin claws back over $1,000 after losing almost a third of value [...]

November 12th, 2017|Daily Commentary|

Sunday, November 12, 2017

[Bloomberg] Saudi Arabia Credit Risk Surges Most in Almost Two Years [Bloomberg] What the Saudi Arrests Mean for the Kingdom's Oil Policy [Bloomberg] U.K.'s May Pressured as Times Says 40 MPs Signal No Confidence [Bloomberg] [...]

November 12th, 2017|Daily Commentary|

Saturday, November 11, 2017

[Reuters] U.S. junk bond sector ends rough week on calmer note [NYT, Morgenson] After 20 Years of Financial Turmoil, a Columnist’s Last Shot [WSJ] Declines in Stocks, Junk Bonds Reveal Cracks in Global Rally [WSJ] [...]

November 11th, 2017|Daily Commentary|

Friday, November 10, 2017

  [Bloomberg] Stocks Extend Drop, Bonds Fall; Dollar Fluctuates: Markets Wrap [Bloomberg] Oil Set for Best Weekly Run in Year as Saudi Tumult Roils Market [Reuters] Dueling Republican tax plans advance in Congress [Bloomberg] [...]

November 9th, 2017|Daily Commentary|

Thursday, November 9, 2017

[Bloomberg] Stocks Drop as Miners Decline; Dollar Fluctuates: Markets Wrap [Bloomberg] What Analysts Say About Nikkei's Mid-Afternoon Drop: Roundup [Bloomberg] In 2017, Investors Can Either Buy Bubbles or Be Left Far Behind [Reuters] Tax-cut [...]

November 8th, 2017|Daily Commentary|

Wednesday, November 8, 2017

[Bloomberg] Stocks Slip on Banking Earnings; Dollar Declines: Markets Wrap [Reuters] A year in: U.S. stock market under Trump's shadow [Bloomberg] China Exports Hold Up as International Demand Remains Resilient [Bloomberg] U.S.-China Trade War [...]

November 7th, 2017|Daily Commentary|

Tuesday, November 7, 2017

[Bloomberg] Stocks Rise as Trump Talks Asia Trade; Bonds Gain: Markets Wrap [Bloomberg] Arab Stocks Sink Most in World as Rising Political Tension Bites [Bloomberg] Here’s Where the GOP Tax Bill Stands Right Now [...]

November 6th, 2017|Daily Commentary|

Monday, November 6, 2017

[Bloomberg] Stocks Mixed as Banks Retreat; Bonds, Oil Climb: Markets Wrap [Bloomberg] Oil Trades Near 2-Year High After Saudi Arabia Purges Officials [Bloomberg] Why the Next Four Days Will Be Crucial for the GOP [...]

November 5th, 2017|Daily Commentary|

Sunday, November 5, 2017

[CNBC] New York Fed President William Dudley set to announce retirement: Sources [Bloomberg] Catalan Leader Puigdemont Turns Himself In to Belgian Police [Bloomberg] Pound to Follow Politics as Scandal-Hit U.K. Renews Brexit Talks [Bloomberg] Billionaire [...]

November 5th, 2017|Daily Commentary|

Saturday, November 4, 2017

[Reuters] Ousted Catalan leader calls for united front for independence [Reuters] Unversed in debt details, Venezuelans desperate for any relief [Reuters] China's central bank chief urges Beijing to promote equity, cut debt, eliminate 'zombie' companies [...]

November 4th, 2017|Daily Commentary|

Friday, November 3, 2017

[Bloomberg] Dollar Falls, Treasuries Rise on Payrolls Report: Markets Wrap [Reuters] Oil near two-year highs as tightening market woos buyers [Bloomberg] U.S. Trade Deficit Widens as Import Gain Barely Exceeds Exports [Bloomberg] U.S. Adds [...]

November 2nd, 2017|Daily Commentary|

Thursday, November 2, 2017

[Bloomberg] Dollar Drops on Powell; Sterling Slumps After BOE: Markets Wrap [Bloomberg] Trump Taps Powell for Fed to Oversee Economy Fraught With Risks [Bloomberg] Powell, Once an Also-Ran, Set to Chair Trump’s Bank-Friendly Fed [...]

November 1st, 2017|Daily Commentary|

Wednesday, November 1, 2017

[Bloomberg] Stocks Gain as Metals Surge; Crude Extends Rally: Markets Wrap [Bloomberg] U.S. Oil Rises to 10-Month High as Stockpiles Seen Dropping [Bloomberg] U.S. Companies Add Most Workers in Seven Months, ADP Data Show [...]

October 31st, 2017|Daily Commentary|

Tuesday, October 31, 2017

[Bloomberg] Euro Drops as Inflation Slows; Stocks Extend Gains: Markets Wrap [Politico] Trump’s unusual chance to stack the Fed [Bloomberg] BOJ Keeps Stimulus Unchanged as It Trims Inflation Outlook [Bloomberg] China Factory PMI Falls [...]

October 30th, 2017|Daily Commentary|

Monday, October 30, 2017

[Bloomberg] U.S. Stocks Fall From Records as Dollar Weakens: Markets Wrap [Bloomberg] China Bond Selloff Spreads to Stocks as Deleveraging Risks Mount [Bloomberg] U.S. Consumer Spending Rises Most Since 2009 on Car Buying [Politico] [...]

October 29th, 2017|Daily Commentary|

Sunday, October 29, 2017

[Reuters] Hundreds of thousands march for unified Spain, poll shows depths of division [NYT] Spain Is a Collection of Glued Regions. Or Maybe Not So Glued. [NYT] Stuck in Place, U.S. Homeowners Hunker Down as Housing Supply Stays [...]

October 29th, 2017|Daily Commentary|

Saturday, October 28, 2017

[BBC] Catalan ex-leader Carles Puigdemont vows to resist takeover [Reuters] Kuroda looks favored to get second term as Bank of Japan chief: Nikkei [Reuters] Catalan police call for neutrality as Spain exerts control [Reuters] Mattis, [...]

October 28th, 2017|Daily Commentary|

Friday, October 27, 2017

[Bloomberg] Dollar Extends Gain on U.S. Tax Moves, Growth: Markets Wrap [Bloomberg] U.S. Growth at Above-Forecast 3% on Consumer, Business Spending [Bloomberg] Tax Plan Has Lobbyists Swarming, Lawmakers Asking What’s in It? [Bloomberg] It’s [...]

October 26th, 2017|Daily Commentary|

Thursday, October 26, 2017

[Bloomberg] U.S. Stocks Rise on Strong Earnings, Euro Falls: Markets Wrap [Bloomberg] ECB Slows Asset Purchases as Draghi Heads for Stimulus Exit [CNBC] Trump apparently is having a hard time making up his mind [...]

October 25th, 2017|Daily Commentary|

Wednesday, October 25, 2017

[Bloomberg] Stocks in Asia Stall; Aussie at Three-Month Low: Markets Wrap [Bloomberg] China Unveils New Leaders With No Clear Xi Successor in Sight [Bloomberg] World's Best Carry Trades Lose Appeal as Interest Rates in Focus [...]

October 24th, 2017|Daily Commentary|

Tuesday, October 24, 2017

[Bloomberg] U.S. Stocks Rise on Blue-Chip Earnings; Euro Gains: Markets Wrap [Reuters] Bond yields grind higher, Caterpillar smashes forecasts [Bloomberg] Why This Stock Bear Sees No Hope for Emerging Markets [Bloomberg] Xi's New Milestone [...]

October 23rd, 2017|Daily Commentary|

Monday, October 23, 2017

[Bloomberg] Euro Drops With Spain on Edge; Bonds and Oil Climb: Markets Wrap [Bloomberg] Catalan Separatists Plot Response to Spain’s Shock and Awe [Reuters] Catalonia warns of civil disobedience as Madrid readies direct rule [...]

October 22nd, 2017|Daily Commentary|

Sunday, October 22, 2017

[Reuters] Catalonia's leaders fight off direct rule from Madrid [Reuters] Stock market's future in Trump's hands as Federal Reserve chair pick looms [Reuters] Abe to push reform of Japan's pacifist constitution after ruling bloc election win [Reuters] Ramping [...]

October 21st, 2017|Daily Commentary|

Saturday, October 21, 2017

[Reuters] Trump expected to pressure China's Xi to rein in North Korea: officials [Reuters] Spain will sack Catalan government, call regional election [Bloomberg] Taylor Has Complex History to Overcome If Picked as Fed Chair [Bloomberg] Yellen Defends Legacy Amid [...]

October 21st, 2017|Daily Commentary|

Friday, October 20, 2017

[Bloomberg] Dollar, Stocks Get Lift From Tax Move; Bonds Fall: Markets Wrap [Bloomberg] Trump’s Tax Plan Takes a Big Step Forward, But What Comes Next Won’t Be Easy [Reuters] Senate passes budget blueprint key to Trump tax [...]

October 19th, 2017|Daily Commentary|

Thursday, October 19, 2017

[Bloomberg] Stocks Drop as Investor Jitters Return; Euro Gains: Markets Wrap [Bloomberg] Hong Kong Stocks Tumble the Most This Year [Bloomberg] Fewest Jobless Claims Since 1973 Show Firm U.S. Job Market [Bloomberg] Spain Unleashes Historic Power to End [...]

October 18th, 2017|Daily Commentary|

Sunday, October 15, 2017

[Bloomberg] Yellen Calls Inflation the 'Biggest Surprise' in the Economy [WSJ] Yellen Says Gradual Rate Increases Should Help Sustain Economy’s Growth [WSJ] Draghi Says ECB Should Be Patient, Persistent With Monetary Policy [WSJ] Why [...]

October 15th, 2017|Daily Commentary|

Saturday, October 14, 2017

[Bloomberg] China Credit Growth Exceeds Estimates Despite Debt Curb Vow [Reuters] Spain to take control of Catalonia if gets ambiguous reply on independence [Reuters] China confirms will amend party constitution, likely to include Xi's theories [...]

October 14th, 2017|Daily Commentary|

Friday, October 13, 2017

[Reuters] S&P, Nasdaq hit records on strong retail sales data [Bloomberg] U.S. Inflation Picks Up on Fuel Costs While Core Gauge Slows [Bloomberg] U.S. Retail Sales Rise Most Since 2015 on Storm-Related Lift [CNBC] [...]

October 12th, 2017|Daily Commentary|

Thursday, October 12, 2017

[Bloomberg] U.S. Stocks Slump, Dollar Gains as Crude Oil Drops: Markets Wrap [Reuters] U.S. producer prices increase as Harvey boosts gasoline prices [Reuters] New Fed chair could be set in next month: U.S. Treasury [...]

October 11th, 2017|Daily Commentary|

Wednesday, October 11, 2017

[Bloomberg] Stocks Gain, With Japan at Decade High; Euro Rise: Markets Wrap [Bloomberg] Spain Turns Screws on Catalonia With Threat of Direct Control [Bloomberg] ECB Wrangling on Stimulus Find Common Ground on Rates, Sources [...]

October 10th, 2017|Daily Commentary|

Tuesday, October 10, 2017

  [Bloomberg] U.S. Stocks Hit New Highs, Spanish Equities Drop: Markets Wrap [Bloomberg] Spain Readies Forces Able to Seize Catalan Leader Today [Bloomberg] Working-Class Americans Face Growing Debt Burdens, Moody's Says [CNBC] Market just [...]

October 9th, 2017|Daily Commentary|

Monday, October 9, 2017

[Bloomberg] U.S. Stocks Fluctuate Near Record as Dollar Slumps: Markets Wrap [Bloomberg] Turkish Markets Tumble After Erdogan’s Feud With U.S. Escalates [Bloomberg] Lira Plunge a Reminder That Fed Isn't Only Emerging Market Risk [Bloomberg] [...]

October 8th, 2017|Daily Commentary|

Sunday, October 8, 2017

[MarketWatch] Is this the melt-up in the stock market before Wall Street’s meltdown? [BBC] Catalan independence declaration 'will have no effect', says Rajoy [BBC] 'Only one thing will work' with N Korea, says President Trump [...]

October 8th, 2017|Daily Commentary|

Saturday, October 7, 2017

[Bloomberg] It's Market Mania for Assets All Around the World [Bloomberg] Kyle Bass Says ICO Investors Will Get Wiped Out in Crypto ‘Mania’ [Reuters] Spaniards take to streets as Catalonia independence tensions rise [Reuters] North [...]

October 7th, 2017|Daily Commentary|

Friday, October 6, 2017

[Bloomberg] U.S. Stocks, Bonds Slip as Dollar Gains on Jobs: Markets Wrap [Bloomberg] U.S. Payrolls Fall 33,000 on Storms; Jobless Rate at 4.2% [Bloomberg] Catalonia Is Squeezed by Spain's Establishment Closing Ranks [Bloomberg] U.S. [...]

October 5th, 2017|Daily Commentary|

Thursday, October 5, 2017

[Bloomberg] U.S. Stocks, Dollar Advance as Treasuries Decline: Markets Wrap [Reuters] Factbox: Who will Trump pick to lead the Federal Reserve? [Bloomberg] Trump’s Short List for Fed Chair Features These Hawks and Doves [Reuters] [...]

October 4th, 2017|Daily Commentary|

Wednesday, October 4, 2017

[Bloomberg] U.S. Stocks Mixed, Dollar Falls as Treasuries Rise: Markets Wrap [Bloomberg] Spanish Bonds, Stocks Fall Ahead of Statement by Catalan Leader [Bloomberg] Puerto Rico Bonds Plunge After Trump Suggests Debt May Need to [...]

October 3rd, 2017|Daily Commentary|

Tuesday, October 3, 2017

[Bloomberg] U.S. Stocks, Dollar Mixed as Tax Reform Hits Bump: Markets Wrap [Bloomberg] The GOP Tax Plan Is Already Hitting Speed Bumps [CNBC] Kevin Warsh would take a hammer to the Fed, but he wouldn't [...]

October 2nd, 2017|Daily Commentary|

Monday, October 2, 2017

[Bloomberg] U.S. Stocks, Dollar Advance as Spain Woes Hit Euro: Markets Wrap [Bloomberg] Fed Eyes Rates as Asset-Price Tool in Break With Hands-Off Past [Bloomberg] Cohn Says Repatriation Tax Rate Will Be in '10-Percent [...]

October 1st, 2017|Daily Commentary|

Sunday, October 1, 2017

[Bloomberg] The Latest on Catalonia's Independence Referendum [Reuters] Violence erupts as Catalans vote on split from Spain [CNBC] David Stockman: Trump tax reform overhaul is a pipe dream, stocks are heading for 40-70% plunge

October 1st, 2017|Daily Commentary|

Saturday, September 30, 2017

[Bloomberg] Trump Ramps Up Fed Chair Search With Decision Due Within Weeks [Bloomberg] U.S. Government Talks Directly With North Korea, Tillerson Says [CNBC] Spanish police move in to stop banned Catalan independence referendum [Bloomberg] China's [...]

September 30th, 2017|Daily Commentary|

Friday, September 29, 2017

[Bloomberg] Dollar Pressured After Strong Week; Bonds Advance: Markets Wrap [Bloomberg] Oil's September Surge Propels Bull Market Run on Demand Optimism [Bloomberg] U.S. Consumer Spending Cools on Drop in Vehicle Purchases [Bloomberg] The Fate [...]

September 28th, 2017|Daily Commentary|

Thursday, September 28, 2017

[Bloomberg] Bond Rout Persists on Tax Plan, Rates; Euro Gains: Markets Wrap [Bloomberg] U.S. Second-Quarter Growth Revised Upward to 3.1% Annual Pace [CNBC] Trump advisor Gary Cohn says we can pay for the entire [...]

September 27th, 2017|Daily Commentary|

Wednesday, September 27, 2017

[Bloomberg] Dollar Gains on Yellen, U.S. Tax Plan; Bonds Slump: Markets Wrap [Bloomberg] Oil in Bull Market Nears $52 on Signs U.S. Stockpiles Declined [Bloomberg] Trump's Tax Overhaul Will Slash Rates for Companies, Individuals [...]

September 26th, 2017|Daily Commentary|

Tuesday, September 26, 2017

[Bloomberg] Euro Slide Deepens as Stocks Drift; Gold Retreats: Markets Wrap [Reuters] Oil near 26-month high as Turkey threatens to choke Kurdish exports [Reuters] Republican tax plan expected to include new 'pass-through' business rate [...]

September 25th, 2017|Daily Commentary|

Monday, September 25, 2017

[Bloomberg] Euro Drops as German Vote Sinks In; Gold Retreats: Markets Wrap [Bloomberg] Fed's Dudley Says He Sees Inflation Restraints Proving Temporary [Bloomberg] GOP Revises Obamacare Repeal Bill Likely Headed for Defeat [Bloomberg] Merkel’s [...]

September 24th, 2017|Daily Commentary|

Sunday, September 24, 2017

[Reuters] Trump cranks up North Korea threats as Pyongyang holds anti-U.S. rally [Bloomberg] Merkel Seeks Fourth Term as Germans Vote in Federal Election [CNBC] German election 2017: All you need to know about the vote [...]

September 24th, 2017|Daily Commentary|

Saturday, September 23, 2017

[Reuters] Merkel, Schulz urge undecided Germans to vote with far right gaining [Bloomberg] China Cities Tighten Home-Sale Rules to Tame Property Market [Reuters] Iran successfully tested new ballistic missile, state media reports

September 23rd, 2017|Daily Commentary|

Friday, September 22, 2017

[Bloomberg] Stocks Mixed as Havens Gain on Korea; Euro Rallies: Markets Wrap [Bloomberg] Canadian Inflation Accelerates to 1.4% on Gasoline [Bloomberg] Fed's Williams Says 2.5% Funds Rate About the `New Normal' [CNN] North Korea [...]

September 21st, 2017|Daily Commentary|

Thursday, September 21, 2017

[Bloomberg] U.S. Stocks Slip as Treasuries Rise With Dollar: Markets Wrap [Bloomberg] Three Bond Market Lessons From the Toys ‘R’ Us Debt Drama [Bloomberg] Home Prices Soar in Disaster-Prone Areas [Bloomberg] Japan's Central Bank [...]

September 20th, 2017|Daily Commentary|

Wednesday, September 20, 2017

[Bloomberg] Stocks Slip, Bonds Climb With Oil as Fed Nears: Markets Wrap [Bloomberg] Fed to Pack Up Crisis Tool, Debate Next Hike: Decision-Day Guide [CNBC] Fed is taking a major step away from its [...]

September 19th, 2017|Daily Commentary|

Tuesday, September 19, 2017

[Bloomberg] Stocks Mixed Ahead of Fed; Euro Gains, Oil Rises: Markets Wrap [SCMP] Yuan weakens sharply after PBOC sets fixing at two-week low; all eyes on Fed [Reuters] U.S. current account widens sharply in [...]

September 18th, 2017|Daily Commentary|

Monday, September 18, 2017

[Bloomberg] Stocks Climb as Fed Week Kicks Off; Gold Declines: Markets Wrap [Bloomberg] Forget Default: Deutsche Reckons Debt Market Risk Lies Elsewhere [Reuters] Skilled labor shortage clouds U.S. building industry outlook: survey [Reuters] In [...]

September 17th, 2017|Daily Commentary|

Sunday, September 17, 2017

[Reuters] Greek backtracking on reforms may prolong next review: ECB official [Reuters] Haley says U.N. has exhausted options on North Korea [WSJ] Trump’s Deal Rejection Puts U.S. Policy on Chinese Investment in Focus [FT] Investors [...]

September 17th, 2017|Daily Commentary|

Saturday, September 16, 2017

[Reuters] Fed meeting could trigger stock sector rotation [Reuters] Rising credit card delinquencies to add to U.S. banks' worries [Reuters] North Korea says seeking military 'equilibrium' with U.S.

September 16th, 2017|Daily Commentary|

Friday, September 15, 2017

[Bloomberg] Dollar Slips on Retail Sales Letdown; Pound Jumps: Markets Wrap [Bloomberg] U.S. Retail Sales Fall After Weaker Results in Prior Months [Bloomberg] U.S. Factory Output Declines as Harvey Hits Refining, Chemicals [Bloomberg] One-Time [...]

September 14th, 2017|Daily Commentary|

Thursday, September 14, 2017

[Bloomberg] Stocks Decline on North Korea as BOE Lifts Pound: Markets Wrap [Bloomberg] U.S. Inflation Picks Up, Ending Five-Month Streak of Misses [Bloomberg] Fed Officials Admit They’ve Lost Some Credibility on Inflation [Bloomberg] Bitcoin [...]

September 13th, 2017|Daily Commentary|

Wednesday, September 13, 2017

[Bloomberg] U.S. Equities Pull Back From Records as Oil Climbs: Markets Wrap [Bloomberg] Oil Climbs as IEA Sees Fastest Demand Growth in Two Years [Bloomberg] Wholesale Prices in U.S. Increase on Jump in Energy [...]

September 12th, 2017|Daily Commentary|

Tuesday, September 12, 2017

[Bloomberg] Stocks Rise as Dollar Edges Higher; Oil Climbs: Markets Wrap [Bloomberg] Trump Plans Aggressive Road Show to Sell Tax Overhaul [Politico] GOP lawmakers jittery over lack of tax reform details [Reuters] Lenders, investors [...]

September 11th, 2017|Daily Commentary|

Monday, September 11, 2017

[Bloomberg] Dollar Advances With Stocks as Irma Threat Recedes: Markets Wrap [Reuters] Dollar, global shares up in Asia on relief at North Korea inaction [Bloomberg] Trump Debt Limit Deal Undermines Trust Among GOP on [...]

September 10th, 2017|Daily Commentary|

Sunday, September 10, 2017

[Bloomberg] Hurricane Irma Makes Florida Landfall [CNBC] Hurricane Harvey probably shaved 1% from third-quarter growth, Goldman Sachs says [Reuters] NATO's Stoltenberg says North Korea's 'reckless behavior' requires global response

September 10th, 2017|Daily Commentary|

Saturday, September 9, 2017

[Bloomberg] China’s Factory, Consumer Inflation Pick Up, Exceeding Estimates [Bloomberg] China to Ban Sale of Fossil Fuel Cars in Electric Vehicle Push [Bloomberg] Worst Florida Damage From Irma Could Be From Storm Surge [FT] [...]

September 9th, 2017|Daily Commentary|

Friday, September 8, 2017

[Bloomberg] Dollar Tumbles as Yen, Euro Rally on Irma, ECB: Markets Wrap [Bloomberg] Hurricane Irma’s Chemical Fallout Could Be Worse than Harvey’s [Bloomberg] Irma Batters Reinsurance Mutual Fund as Hurricane Nears Florida [Reuters] Exclusive: ECB [...]

September 8th, 2017|Daily Commentary|

Thursday, September 7, 2017

[Bloomberg] Dollar Slides on U.S. Jobs; Euro Gains With Stocks: Markets Wrap [Reuters] ECB keeps door open to even more stimulus [Bloomberg] ECB Raises 2017 GDP Forecast to 2.2%, Fastest Since 2007 [Bloomberg] Fed [...]

September 6th, 2017|Daily Commentary|

Wednesday, September 6, 2017

[Bloomberg] Stocks Fall, Bonds Rally Amid Korea, Irma Threats: Markets Wrap [Reuters] Fed policymakers signal caution on inflation, rate hikes [Bloomberg] U.S. Trade Gap Widened by Less Than Forecast Ahead of Harvey [Reuters] Sanctions [...]

September 5th, 2017|Daily Commentary|

Tuesday, September 5, 2017

[Bloomberg] Dollar, S&P Slip Before Big Week for Central Banks: Markets Wrap [Bloomberg] September's Bringing Tons of Catalysts to Shatter Market Calm [Bloomberg] Trump and Moon Agree to Show Muscle After North Korea Nuke [...]

September 4th, 2017|Daily Commentary|

Monday, September 4, 2017

[Bloomberg] Stocks Decline as Korea Tensions Flare; Euro Gains: Markets Wrap [Bloomberg] Bitcoin Tumbles as PBOC Declares Initial Coin Offerings Illegal [Bloomberg] Mobius Foresees Cryptocurrency Crackdown Sparking a Rush to Gold [Bloomberg] China’s Oil [...]

September 3rd, 2017|Daily Commentary|

Sunday, September 3, 2017

[Bloomberg] S&P 500 Index Futures Decline Following North Korea Nuclear Test [Bloomberg] Yen Leads Haven Assets Higher as North Korea Tests Hydrogen Bomb [CNBC] Trump hints at stopping trade with countries that do business with [...]

September 3rd, 2017|Daily Commentary|

Saturday, September 2, 2017

[Bloomberg] Bond Market Braces for Debt-Limit Fight Entering Its Final Round [Bloomberg] America’s Manufacturers and Builders Are On a Tear [Reuters] Current euro level not a threat for European firms: Moscovici [WSJ] U.S. to Challenge [...]

September 2nd, 2017|Daily Commentary|

Friday, September 1, 2017

  [Bloomberg] Stocks Rise, Dollar Falls After Weak Jobs Number: Markets Wrap [Bloomberg] Payrolls in U.S. Rise 156,000; Wages Also Below Forecasts [Bloomberg] ECB May Not Have Final QE Plan Ready Until December [Bloomberg] [...]

August 31st, 2017|Daily Commentary|

Thursday, August 31, 2017

  [Bloomberg] Stocks Gain on Growth Outlook; Dollar Extends Run: Markets Wrap [Bloomberg] U.S. Consumer Spending, Incomes Signal Stable Second-Half Start [Bloomberg] Gold Is Winning New Fans [Reuters] Trump touts tax reform, overlooks White [...]

August 30th, 2017|Daily Commentary|

Wednesday, August 30, 2017

[Bloomberg] Dollar Rises, Treasuries Fall on Growth Optimism: Markets Wrap [Bloomberg] Gasoline Hits 2-Year High as Harvey Shuts Biggest U.S. Refinery [Bloomberg] U.S. Second-Quarter Growth Revised to 3% in Momentum Boost [Bloomberg] Companies in [...]

August 29th, 2017|Daily Commentary|

Tuesday, August 29, 2017

[Bloomberg] Stocks Drop, Gold Leads Haven Rally on Korea Fears: Markets Wrap [Bloomberg] Gold Jumps on Haven Demand as N. Korea Lobs Missile Across Japan [Reuters] Trump says 'all options on the table' after North [...]

August 28th, 2017|Daily Commentary|

Monday, August 28, 2017

[Bloomberg] Stocks Rise as Traders Weigh Harvey; Gold Climbs: Markets Wrap [Reuters] U.S. gasoline futures surge as Harvey swamps Texas, euro holds at 2-1/2-year high [Bloomberg] `Tragedy of Epic Proportions' Looms as Harvey Pounds [...]

August 27th, 2017|Daily Commentary|

Sunday, August 27, 2017

[Bloomberg] Harvey's Second Act Could Drive Up Economic Damage for Texas [WSJ] Hurricane Harvey Threatens Largest Flood Insurer: The Government [NYT, Morgenson] Shut Down the Government, and This Time, Investors Will Care [Reuters] Most French [...]

August 27th, 2017|Daily Commentary|

Friday, August 25, 2017

[Reuters] Asia stocks resilient, dollar up before Yellen, Draghi speeches [Bloomberg] Caution Rules Asian Markets as Central Banks Meet: Markets Wrap [Bloomberg] Watch These Top Headliners at the Fed's Jackson Hole Conference [CNBC] Fed Chair [...]

August 24th, 2017|Daily Commentary|

Thursday, August 24, 2017

[Bloomberg] U.S. Stocks Fluctuate With Jackson Hole Looming: Markets Wrap [CNBC] Fitch: US 'AAA' rating at risk if debt ceiling not raised [Bloomberg] Below-Forecast U.S. Jobless Claims Signal Tight Labor Market [Bloomberg] Fed's George Sees [...]

August 23rd, 2017|Daily Commentary|

Wednesday, August 23, 2017

[Bloomberg] Stocks, Dollar Slip as Trump Stokes Policy Concern: Markets Wrap [CNBC] Trump: I'm building the wall even 'if we have to close down our government' [Bloomberg] Economy Parties a Bit Like 1999 as [...]

August 22nd, 2017|Daily Commentary|

Tuesday, August 22, 2017

  [Bloomberg] Stocks Rebound in Thin Trading; Gold, Bonds Slide: Markets Wrap [Politico] Trump’s team and lawmakers making strides on tax reform plan [Reuters] Manhattan high-end condo prices rise with strong demand: report [Bloomberg [...]

August 21st, 2017|Daily Commentary|

Monday, August 21, 2017

[Bloomberg] Stocks Mixed as Focus Shifts to Central Bankers: Markets Wrap [Reuters] Metals shine but world stocks stuck near 5-1/2-week low [Bloomberg] Yellen, Draghi Head to Jackson Hole Amid Inflation Unease [Bloomberg] China Banks' [...]

August 20th, 2017|Daily Commentary|

Sunday, August 20, 2017

[Bloomberg] Pound Vulnerable as U.K. Prepares to Provide Brexit Plan Details [Reuters] China to strengthen oversight of 'regulatory arbitrage': central banker [WSJ] Investors Pull Back From Gundlach’s Biggest Fund at DoubleLine [WSJ] War Games to [...]

August 20th, 2017|Daily Commentary|

Saturday, August 19, 2017

[Reuters] Summer rumblings could herald a stormy fall for U.S. stocks [Reuters] Nervous Japanese hold drill in case North Korea fires missiles over them [Bloomberg] Terror in Spain Shows Islamic State Is Down Not [...]

August 20th, 2017|Daily Commentary|

Friday, August 18, 2017

[Bloomberg] Markets on Edge; Gold, Yen Gain: Markets Wrap [CNBC] Global trade has been booming — but that may be about to fall apart [Reuters] China's new home price growth continues to slow in [...]

August 17th, 2017|Daily Commentary|

Thursday, August 17, 2017

[Bloomberg] Euro Falls on ECB Minutes; Stocks Drop, Bonds Gain: Markets Wrap [Bloomberg] Fed Starts to Wonder If Cornerstone Inflation Model Still Works [Bloomberg] ECB Officials Expressed Concern Over Risk of Euro Overshoot [Bloomberg] [...]

August 16th, 2017|Daily Commentary|

Wednesday, August 16, 2017

[Bloomberg] U.S. Stocks Rise as Investors Await Fed Minutes: Markets Wrap [Bloomberg] Fed Minutes May Show Battle Lines Hardening Over Soft Inflation [CNBC] This is what the markets are looking for from the Fed Wednesday [...]

August 15th, 2017|Daily Commentary|

Tuesday, August 15, 2017

[Bloomberg] Dollar Extends Gain After Retail Data; Bonds Drop: Markets Wrap [Bloomberg] Broad-Based Advance in U.S. Retail Sales Shows Solid Spending [Reuters] U.S. import prices rebound after two straight monthly declines [Bloomberg] ECB's QE [...]

August 14th, 2017|Daily Commentary|

Monday, August 14, 2017

[Bloomberg] Stocks Bounce and Havens Drop as Korea Fears Abate: Markets Wrap [Bloomberg] After a Summer Bond Binge, Signs of Angst Are Growing in the Market [Bloomberg] China's Economic Growth Dials Back [Reuters] US [...]

August 13th, 2017|Daily Commentary|

Sunday, August 13, 2017

[CNN] Guam, Japan prepare for possible North Korea missile launch [Reuters] Britain says Brexit talks should move to next phase, as ministers show unity [WSJ] Trump’s Easing of Postcrisis Wall Street Rules Gains Momentum

August 13th, 2017|Daily Commentary|

Saturday, August 12, 2017

[Bloomberg] Trump Is Ready to Turn Up the Heat on China Over IP Transfers [Bloomberg] China's Xi Seeks to Calm North Korea Tensions in Call With Trump [Politico] Trump's China trade crackdown coming Monday [Reuters] [...]

August 13th, 2017|Daily Commentary|

Friday, August 11, 2017

[Bloomberg] U.S. Stocks Stabilize, Dollar Slips on Price Data: Markets Wrap [Reuters] Global stocks, dollar extend slide as U.S., North Korea tensions intensify [Reuters] Trump: military solutions 'locked and loaded' against North Korea threat [...]

August 10th, 2017|Daily Commentary|

Thursday, August 10, 2017

[[Bloomberg] U.S. Stocks Slump, Volatility Spikes on Korea Spat: Markets Wrap [Bloomberg] Gold Beats U.S. Stocks as North Korea Worries Drive Haven Demand [Reuters] U.S. producer prices record biggest drop in 11 months [Bloomberg] [...]

August 9th, 2017|Daily Commentary|

Wednesday, August 9, 2017

[Reuters] Shares, dollar slip as U.S.-North Korea tensions escalate [Bloomberg] South Korea Stocks, Won Drop After Trump's `Fire, Fury' Warning [Reuters] Yen hits 8-week high vs dollar on latest bout of Korean tensions [Bloomberg] China [...]

August 8th, 2017|Daily Commentary|

Tuesday, August 8, 2017

[Bloomberg] Dollar Drops After Dovish Fed Comments; Gold Rises: Markets Wrap [CNBC] It's full-steam ahead on tax reform ... with no details [CNBC] Jeff Gundlach says 'highest-conviction trade' is a bet against the S&P [...]

August 7th, 2017|Daily Commentary|

Monday, August 7, 2017

[Bloomberg] Dollar Extends Gain After Jobs Data; Crude Drops: Markets Wrap   [Bloomberg] China's Foreign Reserves Rise for a Sixth Month [Bloomberg] Some Credit Investors Are Getting Ready for a Market Correction [Bloomberg] The [...]

August 6th, 2017|Daily Commentary|

Sunday, August 6, 2017

[Bloomberg] Biggest Qatar Bank Is Said Weighing Funding Option Amid GCC Spat [Reuters] UK ready to pay up to 40 billion euros to leave EU: Sunday Telegraph [Bloomberg] China Confident Sanctions Can Block North Korea [...]

August 6th, 2017|Daily Commentary|

Saturday, August 5, 2017

[MarketWatch] Beneath the glow of stock-market records, darkly bearish trends are lurking [CNBC] While big bills have failed, Wall Street sees opportunity in Trump's massive deregulation movement [Bloomberg] Beijing For Small-Scale Military Offensive Against India: [...]

August 6th, 2017|Daily Commentary|

Friday, August 4, 2017

[Bloomberg] Dollar Rises, Treasuries Slide on Strong Jobs Data: Markets Wrap [Bloomberg] Payroll Gain of 209,000, Wage Pickup Show U.S. Labor Strength [Bloomberg] The Jobs Numbers: Who’s Hiring in America—and Who’s Not [Reuters] U.S. [...]

August 3rd, 2017|Daily Commentary|

Thursday, August 3, 2017

[Bloomberg] U.S. Stocks Mixed Near Records, Pound Drops on BOE: Markets Wrap [Bloomberg] Decline in Jobless Claims Shows U.S. Labor Demand Remains Robust [Bloomberg] Carney Says Brexit to Take Toll on Growth as BOE [...]

August 3rd, 2017|Daily Commentary|

Wednesday, August 2, 2017

[Bloomberg] Dow Tops 22,000 as Apple Rallies; Euro Strengthens: Markets Wrap [Reuters] U.S. private sector adds 178,000 jobs in July: ADP [CNBC/NYT] Trump administration is said to prepare broad trade case against China [Bloomberg] [...]

August 1st, 2017|Daily Commentary|

Tuesday, August 1, 2017

[Bloomberg] Stocks Gain as Earnings, Data Boost Confidence: Markets Wrap [Bloomberg] Americans' Spending Barely Grew in June as Incomes Stagnated [Bloomberg] U.S. Auto Market Slump Persists [Reuters] China factory activity accelerates in July on [...]

July 31st, 2017|Daily Commentary|

Monday, July 31, 2017

[Bloomberg] Stocks Advance as Growth Optimism Boosts Metals: Markets Wrap [Bloomberg] Republicans Face Tough Choice: Repeal Obamacare or Cut Taxes [Bloomberg] Inflation Hits Low Bar Draghi Set as Stimulus Debate Gets Closer [Reuters] China [...]

July 30th, 2017|Daily Commentary|

Sunday, July 30, 2017

[CNBC] Trump expresses frustration with China over North Korea, hints at retaliation [Reuters] Real estate booms in China's small cities, but construction outpaces demand [Reuters] U.S. flies bombers over Korean peninsula after North Korea [...]

July 29th, 2017|Daily Commentary|

Saturday, July 29, 2017

[Reuters] ECB should think about when it wants to wind down bond buys: Lautenschlaeger [Reuters] Venezuela money supply surges 10 percent in one week, fastest in 25 years [WSJ] The Great Transatlantic Bond Divergence Unwind [...]

July 29th, 2017|Daily Commentary|

Friday, July 28, 2017

[Bloomberg] U.S. Stocks Fall, Dollar Weakens After Growth Data: Markets Wrap [Reuters] U.S. economic growth picks up in second quarter, wages continue to lag [Bloomberg] German Inflation Unexpectedly Steady as ECB Nears Exit Debate [Reuters] [...]

July 28th, 2017|Daily Commentary|

Thursday, July 27, 2017

[Bloomberg] Dollar Drops on Fed's Inflation; Asia Stocks Rise: Markets Wrap [Bloomberg] Bannon Is Said to Call for 44% Tax on Incomes Above $5 Million [WSJ] Investors May Feel Left Out of Fed’s Plans [FT] [...]

July 26th, 2017|Daily Commentary|

Wednesday, July 26, 2017

  [Bloomberg] Stocks Lifted by Earnings, Commodities; Bonds Gain: Markets Wrap [Bloomberg] Fed Balance Sheet Shifts Into Limelight Absent Rate Hike Urgency [Reuters] Fed expected to leave rates unchanged; balance sheet in focus [Reuters] [...]

July 25th, 2017|Daily Commentary|

Tuesday, July 25, 2017

[Bloomberg] Stocks Rally as Bonds Slip, Industrial Metals Gain: Markets Wrap [Bloomberg] Oil Extends Advance to $47 as Saudis Pledge Deep Export Cuts [Bloomberg] Government Shutdown Odds Grow With GOP Border Wall Funding Bill [...]

July 24th, 2017|Daily Commentary|

Monday, July 24, 2017

[Bloomberg] U.S. Stocks Fluctuate as Dollar Weakens, Oil Gains: Markets Wrap [Bloomberg] Oil Rises as Saudi Arabia Pledges Deep Cut to August Exports [Reuters] Federal Reserve now faces prospect of global monetary policy tightening [...]

July 23rd, 2017|Daily Commentary|

Sunday, July 23, 2017

[Reuters] Oil market rebalancing to speed up in second half: OPEC's Barkindo [Reuters] Japanese PM Abe's support slides again before parliament appearance [WSJ] Xi’s Sign-Off Deals Blow to China Inc.’s Global Spending Spree [FT] [...]

July 23rd, 2017|Daily Commentary|

Saturday, July 22, 2017

[Bloomberg] Japan Pictures Likely Show Melted Fukushima Fuel for First Time [NYT] In China, Silicon Valley Giants Confront New Walls [WSJ] U.S. Message to China: Hands Off Our Companies [Spiegel] Germany Debates Tougher Stance Against [...]

July 22nd, 2017|Daily Commentary|

July 21, 2017: New Age Mandate

A journalist’s question during Mario Draghi’s ECB post-meeting press conference: “…There was a sharp reaction from financial markets to your Sintra speech. You must have looked at the Fed experience [...]

July 21st, 2017|Weekly Commentary|

Friday, July 21, 2017

  [Bloomberg] Euro Advance Persists as Politics Sink Dollar: Markets Wrap [Bloomberg] China's Central Bank Pumps in Most Funds Since January [Reuters] ECB rate setters see decision on stimulus in October: sources [Bloomberg] RBA [...]

July 20th, 2017|Daily Commentary|

Thursday, July 20, 2017

[Bloomberg] Euro Climbs as Draghi Talks Up Growth; Gold Slips: Markets Wrap [Bloomberg] ECB Leaves Guidance Unchanged as Anticipation for Autumn Builds [Bloomberg] Draghi Says Officials ‘Aren't There Yet’ as ECB Keeps Stimulus [Bloomberg] [...]

July 19th, 2017|Daily Commentary|

Wednesday, July 19, 2017

[Bloomberg] Earnings Boost Stocks, Euro Retreats as ECB Meets: Markets Wrap [Bloomberg] U.S. Housing Starts at Four-Month High Give Boost at Quarter-End [Reuters] Senate Republicans reluctantly consider bipartisan healthcare talks [CNBC] Mortgage applications jump 6.3% [...]

July 18th, 2017|Daily Commentary|

Tuesday, July 18, 2017

  [Bloomberg] Dollar Drops With Stocks as U.S. Reform Hopes Fade: Markets Wrap [Bloomberg] Chinese Stocks Extend Steepest Retreat This Year; Sunac Plunges [CNBC] GOP gives up on replacing Obamacare now: McConnell and Trump [...]

July 17th, 2017|Daily Commentary|

Monday, July 17, 2017

[Bloomberg] Data in Driving Seat as Metals Rally, Stocks Climb: Markets Wrap [Bloomberg] Chinese Small-Caps Plunge to Lowest Level in Over Two Years [Reuters] Oil prices firm on signs of U.S. production slowdown [Bloomberg] [...]

July 16th, 2017|Daily Commentary|

Sunday, July 16, 2017

[AP] With passage already uncertain, Senate leadership postpones health care vote after McCain's surgery [Reuters] U.S.-China trade talks sputtering at 100-day deadline [Reuters] China central bank told by Xi to play bigger role in [...]

July 15th, 2017|Daily Commentary|

Saturday, July 15, 2017

[Reuters] U.S. deficits to jump $248 billion over next two years due to tax shortfall [Reuters] China central bank to play bigger role managing financial risk: state TV [CNBC] China closed-door policy meeting fuels speculation [...]

July 15th, 2017|Daily Commentary|

Friday, July 14, 2017

[Bloomberg] Bonds Gain, Stocks Steady as CPI Tests Fed Resolve: Markets Wrap [Reuters] US Consumer Price Index unchanged in June vs 0.2% increase expected [Bloomberg] Second Straight Drop in U.S. Retail Sales Shows Tepid [...]

July 13th, 2017|Daily Commentary|

Thursday, July 13, 2017

[Bloomberg] Relief Rally Spurs Stocks to Record; Dollar Falls: Markets Wrap [Reuters] ECB to announce winding down of bond purchases in September: WSJ [Reuters] US producer prices unexpectedly rise on services [Reuters] Feuding U.S. [...]

July 12th, 2017|Daily Commentary|

Wednesday, July 12, 2017

[Bloomberg] U.S. Stocks, Bonds Jump on Go-Slow Fed; Oil Climbs: Markets Wrap [Reuters] Oil rises above $48 as API reports drop in U.S. fuel stocks [CNBC] Yellen indicates that Fed may not need to [...]

July 11th, 2017|Daily Commentary|

Tuesday, July 11, 2017

[Bloomberg] Stocks Follow Crude Prices Lower as Dollar Climbs: Markets Wrap [Bloomberg] Oil Slides as Saudi Arabia Is Said to Produce Above Output Cap [Reuters] Trump to nominate Quarles to be Fed's top banking [...]

July 10th, 2017|Daily Commentary|

Monday, July 10, 2017

[Bloomberg] Stocks Buoyant Before Earnings; Oil, Gold Retreat: Markets Wrap [Reuters] Oil falls as evidence points to rising global supply [Bloomberg] Trading Halts, Confusion From India to Indonesia on Manic Monday [Bloomberg] Deutsche Sees [...]

July 9th, 2017|Daily Commentary|

Sunday, July 9, 2017

[Reuters] Hong Kong's mortgage lenders doing booming business in the shadows [Barron's] Man vs. Machine: How Has Indexing Changed the Market? [The Hill] GOP pessimism rising on ObamaCare repeal [FT] Federal Reserve hits back [...]

July 9th, 2017|Daily Commentary|

Saturday, July 8, 2017

[Bloomberg] U.S. Squeezes Steel Concessions From G-20 After Tariff Threat [Reuters] G20 communique agreed apart from climate issue: EU officials [Bloomberg] ECB's Villeroy Sees Autumn as the Season to Adapt Stimulus Plan [Bloomberg] ECB Officials [...]

July 8th, 2017|Daily Commentary|

Friday, July 7, 2017

  [Bloomberg] U.S. Stocks, Dollar Rise as Jobs Data Top Estimate: Markets Wrap [Bloomberg] U.S. Hiring Accelerates While Wage Growth Stays Flat [Reuters] Bank of Japan offers to buy unlimited amount of bonds to [...]

July 6th, 2017|Daily Commentary|

Thursday, July 6, 2017

[Bloomberg] U.S. Stocks Retreat as Sovereign Bond Drop Deepens: Markets Wrap [Bloomberg] Surge in German Bond Yields Triggers Fresh Rout in Global Debt [Bloomberg] ECB Discussed Removing Easing Bias on Bond-Buying Program [Bloomberg] The Flashpoints [...]

July 5th, 2017|Daily Commentary|

Wednesday, July 5, 2017

  [Bloomberg] Haven Gains Ebb as Traders Await Fed, ECB Minutes: Markets Wrap [Reuters] Italian bond yields edge higher as ECB bias, bank rescue cloud picture [Bloomberg] Rand Slumps as ANC Said to Weigh [...]

July 4th, 2017|Daily Commentary|

Tuesday, July 4, 2017

[Bloomberg] Havens Advance as Missile Test Rattles Traders: Markets Wrap [Bloomberg] States Mired in Budget Paralysis Defy Eight-Year Recovery [MarketWatch] Car buyers stretch loan payments to record lengths to get in pricier vehicles [Reuters] [...]

July 3rd, 2017|Daily Commentary|

Monday, July 3, 2017

[Bloomberg] European Stocks Bounce as Oil Rises, Dollar Gains: Markets Wrap [Reuters] Illinois House passes $5 billion tax package [Reuters] Tough questions still to tackle before G20 summit, Germany says [Bloomberg] Euro-Area Manufacturing Accelerates [...]

July 2nd, 2017|Daily Commentary|

Sunday, July 2, 2017

[Bloomberg] Qatar Defiance Fuels Stock Declines as Neighbors' Deadline Looms [Reuters] May could walk out of Brexit talks over exit bill: Telegraph [Reuters] Japan PM's party suffers historic defeat in Tokyo poll, popular governor [...]

July 1st, 2017|Daily Commentary|

Saturday, July 1, 2017

[Reuters] ECB working on move away from ultra-easy policy: Weidmann [Bloomberg] Here's One Record Illinois Doesn't Want to Attain: QuickTake Q&A [CNBC] Citi’s Shafir thinks a 'secular downturn' is at hand, so don't bet on [...]

July 1st, 2017|Daily Commentary|

Friday, June 30, 2017

[Bloomberg] Technology Shares Lead Stock Rebound; Oil Gains: Markets Wrap [Bloomberg] Tepid U.S. Consumer Spending Keeps Economic Rebound On Track [CNBC] Trump reportedly 'hell-bent' on imposing steel tariff despite objections from most advisors [Reuters] [...]

June 29th, 2017|Daily Commentary|

Thursday, June 29, 2017

[Bloomberg] Euro, Pound Climb as Traders Adjust Rates Outlook: Markets Wrap [Reuters] End of easy money? Surging euro, bond yields say yes [Bloomberg] Investors Scramble to Keep Pace With New Market Outlook [Reuters] Fed [...]

June 28th, 2017|Daily Commentary|

Wednesday, June 28, 2017

[Bloomberg] U.S. Stocks Rebound, Euro Flat After ECB Comments: Markets Wrap [Reuters] ECB chief was overinterpreted by skittish markets: sources [Reuters] Euro, bond yields drive higher on ECB scale-back bets [Bloomberg] Draghi's Reflation Talk Sparks [...]

June 27th, 2017|Daily Commentary|

Tuesday, June 27, 2017

[Bloomberg] U.S. Stocks, Dollar Fall as Treasuries Strengthen: Markets Wrap [Reuters] Stocks, dollar ease as central bank officials take center stage [Reuters] Euro surges nearly one percent after Draghi comments, dollar slips [Bloomberg] Draghi Sees [...]

June 27th, 2017|Daily Commentary|

Monday, June 26, 2017

[Bloomberg] Treasuries Erase Loss, Dollar Slips on Orders Data: Markets Wrap [Bloomberg] Gold Plunges as 1.8 Million Ounces Traded in a New York Minute [Reuters] UK PM May strikes $1.3 billion deal to get [...]

June 25th, 2017|Daily Commentary|

Sunday, June 25, 2017

[Bloomberg] Italy Rushes to Approve Decree Law to Keep Two Veneto Banks Open [Reuters] Time may be nearing for ECB stimulus exit: Weidmann [Reuters] Push on with the 'great unwinding', BIS tells central banks [CNBC] [...]

June 25th, 2017|Daily Commentary|

Saturday, June 24, 2017

[AP] Italian PM 'guarantees' savers' accounts in 2 troubled banks [Bloomberg] Italy to Shield Senior Creditors in Liquidating Veneto Banks [CNBC] Qatar says demands made by four Arab states not 'realistic' [FT] Contenders vie to [...]

June 24th, 2017|Daily Commentary|

Friday, June 23, 2017

[Bloomberg] Stocks Struggle as Oil Heads for Fifth Weekly Loss: Markets Wrap [CNBC] GOP leaders have a tough task ahead to win enough support for Obamacare replacement [Bloomberg] Senate Holdouts Seek Upper Hand in [...]

June 22nd, 2017|Daily Commentary|

Thursday, June 22, 2017

[Bloomberg] U.S. Stocks Mixed as Oil Stabilizes, Dollar Slips: Markets Wrap [Bloomberg] Yellen's Future at Fed Resisted by Trump Aides Wanting New Blood [Reuters] Bond market flashing worry on economy, countering Fed view [Bloomberg] May [...]

June 21st, 2017|Daily Commentary|

Wednesday, June 21, 2017

[Bloomberg] Stocks Decline as Crude Struggles; Pound Advances: Markets Wrap [Bloomberg] Oil Extends Drop Into Bear Market as Supply Remains Plentiful [Bloomberg] BOE’s Haldane Sees Case for Raising Interest Rates This Year [Reuters] After [...]

June 20th, 2017|Daily Commentary|

Tuesday, June 20, 2017

[Bloomberg] Oil, Copper Declines Weigh on Stocks; Pound Slumps: Markets Wrap [Bloomberg] Oil Drops to Seven-Month Low as Libya Adds to Persistent Surplus [Reuters] U.S. current account deficit widens to 2.5 percent of GDP [...]

June 19th, 2017|Daily Commentary|

Monday, June 19, 2017

[Bloomberg] U.S. Tech Stocks Jump; Dollar Gains, Bonds Decline: Markets Wrap [Reuters] Tight U.S. labor market should push inflation higher: Fed's Dudley [CNBC/NYT] Whole Foods Deal Shows Amazon’s Prodigious Tolerance for Risk [Bloomberg] Brexit [...]

June 18th, 2017|Daily Commentary|

Sunday, June 18, 2017

[Reuters] Macron wins strong parliamentary majority, estimates show [Bloomberg] Macron sets sights on huge parliamentary majority, voter turnout low [Reuters] Minsheng chairman says loans to China's Anbang total only $100 mln -Caixin [Bloomberg] Iran's Revolutionary [...]

June 18th, 2017|Daily Commentary|

Saturday, June 17, 2017

[Bloomberg] May Is Living Brexit Nightmare She Warned Of [Spiegel] Brexit Talks Set to Begin amid Chaos in London [CNBC] Negative-yielding government debt 'supernova' jumps to $9.5 trillion [FT] A deal too far for China’s [...]

June 17th, 2017|Daily Commentary|

Friday, June 16, 2017

[Bloomberg] Shares End Week Stronger as Havens Yen, Bonds Fade: Markets Wrap [Bloomberg] Drop in U.S. Housing Starts Shows Industry May Weigh on Growth [Reuters] BOJ upgrades view on consumption, rules out early exit [...]

June 15th, 2017|Daily Commentary|

Wednesday, June 14, 2017

[Bloomberg] Treasuries Rise, Dollar Dips as Economic Data Miss: Markets Wrap [Reuters] Dollar on tenterhooks as investors await Fed policy clues [Bloomberg] Slowdown in U.S. Consumer Inflation May Sow Fed Doubt on Prices [Bloomberg] [...]

June 13th, 2017|Daily Commentary|

Tuesday, June 13, 2017

[Bloomberg] U.S. Stocks Rebound, Dollar Weakens as Fed Looms: Markets Wrap [Reuters] U.S. Treasury unveils financial reforms, critics attack [Reuters] Fed set to raise interest rates, give more detail on balance sheet winddown [Reuters] [...]

June 12th, 2017|Daily Commentary|

Monday, June 12, 2017

[Bloomberg] Tech Selloff Spreads; Pound Slides as May Battles: Markets Wrap [Reuters] Tech sell-off spreads to Europe and Asia, politics lift euro [Reuters] Eyes on central banks after sterling shocker [Reuters] Britain's PM May [...]

June 11th, 2017|Daily Commentary|

Sunday, June 11, 2017

[Bloomberg] Qatar Banks Can Survive Gulf, Foreign Funds Withdrawal, S&P Says [Reuters] Dollar shortages hit Qatar exchange houses as foreign banks scale back ties [Bloomberg] Puerto Rico Warns It May Grab Sales-Taxes Claimed by [...]

June 10th, 2017|Daily Commentary|

Saturday, June 10, 2017

[Reuters] British PM fights for survival ahead of Brexit talks [BBC] Theresa May's Top Two Aids Quit [CNBC] The five biggest tech stocks lost nearly $100 billion in value on Friday [Reuters] Italy's Renzi sees [...]

June 10th, 2017|Daily Commentary|

Friday, June 9, 2017

[Bloomberg] Pound Drops on U.K. Vote; Global Impact Limited: Markets Wrap [Reuters] Britain's pound dives after UK election shock, lifting main FTSE shares [Reuters] May to form fragile government after UK election debacle, uncertainty [...]

June 8th, 2017|Daily Commentary|

Thursday, June 8, 2017

[Bloomberg] ECB Saps Euro Strength as Vote Unnerves U.K.: Markets Wrap [Bloomberg] ECB Drops Guidance on Rate Cuts in Step Toward Stimulus Exit [Reuters] ECB keeps money taps open but drops reference to rate [...]

June 7th, 2017|Daily Commentary|

Wednesday, June 7, 2017

[Bloomberg] U.S. Stocks Rise With Dollar, Treasuries Slump: Markets Wrap [] Euro Drops Sharply As ECB Said To Cut Inflation Outlook [Reuters] ECB triggers overnight Santander rescue of Spain's Banco Popular [Bloomberg] ECB Said [...]

June 6th, 2017|Daily Commentary|

Client confidential with audio

Client Weekly Links (or text?) [Bloomberg] Bonds Climb as Oil Plunge Damps Inflation Jitters; Ruble Slumps [Bloomberg] One Measure of Risk Just Hit Its Highest Level in Four Months [Bloomberg] Italy’s Bonds Slump as Polls Show Nation [...]

June 6th, 2017|Client Confidential|

Tuesday, June 6, 2017

[Bloomberg] Havens Rally as Risk Events Stack Up; Oil Swings: Markets Wrap [Reuters] Dollar hits seven-month low, stocks, oil retreat as caution reigns [Reuters] Qatari riyal under pressure as Saudi, UAE banks delay Qatar [...]

June 5th, 2017|Daily Commentary|

Monday, June 5, 2017

[Bloomberg] U.S. Stocks Slip From Records as Oil, Dollar Slump: Markets Wrap [Bloomberg] Qatari Markets Rocked as Four Arab Nations Cut Diplomatic Ties [Reuters] China services sector expands at fastest pace in four months [...]

June 4th, 2017|Daily Commentary|

Sunday, June 4, 2017

[Bloomberg] London Attacks Send Pound Down as Yen Holds Gains: Markets Wrap [Bloomberg] In shadow of deadly attacks, British election campaign resumes [FT] Fresh doubt raised over Fed rate rise [FT] World Bank warns on [...]

June 4th, 2017|Daily Commentary|

Saturday, June 3, 2017

[Reuters] Close aide to Brazil's leader Temer arrested in corruption inquiry [Reuters] Banco Popular head tells staff to stay calm, source says ECB meet planned [Reuters] As large cap gets larger, can the tech rally [...]

June 3rd, 2017|Daily Commentary|

Friday, June 2, 2017

[Reuters] Slow U.S. jobs growth takes shine off dollar, stocks hold all-time highs [Reuters] Oil slides as U.S. climate withdrawal compounds glut concerns [Bloomberg] Slower Hiring, Lower Unemployment Offer Mixed U.S. Labor Signs [Bloomberg] [...]

June 1st, 2017|Daily Commentary|

Thursday, June 1, 2017

[Bloomberg] Stocks in Upbeat Mood as Oil Steadies, Havens Slip: Markets Wrap [CNBC] Private payrolls add 253K in May vs. 185K est.: ADP [Bloomberg] China's Caixin PMI Falls Below 50 for First Time Since [...]

May 31st, 2017|Daily Commentary|

Wednesday, May 31, 2017

[Bloomberg] Stocks Gain as Data Back ECB Stimulus; Oil Slumps: Markets Wrap [Bloomberg] Euro-Area Inflation Slows More Than Forecast Before ECB Meeting [Bloomberg] China Manufacturing Gauge Exceeds Estimates as Growth Holds Up [Bloomberg] Japan's [...]

May 30th, 2017|Daily Commentary|

Tuesday, May 30, 2017

[Bloomberg] U.S. Stocks Slip From Records as Commodities Slump: Markets Wrap [Bloomberg] U.S. Consumer Spending Signals Second-Quarter Rebound On Track [CNBC] US home prices climb 5.8 percent in March: S&P CoreLogic Case-Shiller [Bloomberg] Rise [...]

May 29th, 2017|Daily Commentary|

Monday, May 29, 2017

[Bloomberg] Stocks Meander, Pound Rises in Holiday-Hit Trading: Markets Wrap [Bloomberg] Draghi Says Euro Area Still Needs Extraordinary ECB Support [Reuters] Italian bank worries leak into second week [Bloomberg] Fed's Williams Sees Gradual Policy [...]

May 28th, 2017|Daily Commentary|

Saturday, May 27, 2017

[Reuters] G7 leaders make progress on trade, remain split on climate change [Bloomberg] Trump Takes Own Path as G-7 Fails to Reach Unity on Climate [CNBC] Debt ceiling could be hit late this summer: Sources [...]

May 27th, 2017|Daily Commentary|

Friday, May 26, 2017

[Bloomberg] U.S. Stock Rally Falters, Dollar Gains as Oil Dips: Markets Wrap [Bloomberg] U.S. Growth Not So Bad After Revisions to Spending, Investment [Reuters] U.S. home prices to rise at a strong pace on [...]

May 25th, 2017|Daily Commentary|

Thursday, May 25, 2017

[Reuters] World stocks hit record, oil falls on OPEC cuts deal [Bloomberg] All Eyes on Vienna as Oil Drops; Growth Hits Pound: Markets Wrap [Bloomberg] Crude Oil Weakens as OPEC Disappoints With `Safe Bet' Extension [...]

May 25th, 2017|Daily Commentary|

Wednesday, May 24, 2017

  [Bloomberg] Stocks, Currencies Hit Pause on Wait for Fed Clues: Markets Wrap [Bloomberg] China Handed First Moody's Downgrade Since 1989 on Debt Risk [Bloomberg] Draghi’s Lieutenants Spar as ECB Braces for Exit Strategy [...]

May 23rd, 2017|Daily Commentary|

Tuesday, May 23, 2017

[Bloomberg] European Stocks Gain on Solid Data; Crude Retreats: Markets Wrap [Bloomberg] OPEC on Verge of 9-Month Cuts Extension After Iraq Backing [Bloomberg] Trump Seeks $3.6 Trillion in Cuts to Reshape U.S. Government [Politico] [...]

May 22nd, 2017|Daily Commentary|

Monday, May 22, 2017

[Bloomberg] Output Bets Spur Oil; Euro Rises on Merkel Comment: Markets Wrap [Bloomberg] Euro Rebounds to Six-Month High on Merkel While Dollar Steadies [Bloomberg] Trump to Propose Deep Cuts to Anti-Poverty Programs and Medicai [Bloomberg] [...]

May 22nd, 2017|Daily Commentary|

Sunday, May 21, 2017

[Bloomberg] Asian Stocks May Rise, Oil Extends Gains Above $50: Markets Wrap [Reuters] U.S. and Pacific Rim countries at odds in heated trade meeting [Bloomberg] Ghost of the 1997 Crisis Stalks Hong Kong's Economy [Bloomberg] [...]

May 22nd, 2017|Daily Commentary|

Saturday, May 20, 2017

[Bloomberg] Iran's Rouhani Sweeps to Second Term, Beating Hardline Rival [Reuters] The European Central Bank will need to "show backbone" when inflationary pressure rises in the eurozone although [Reuters] Under fire at home, Trump in [...]

May 20th, 2017|Daily Commentary|

Friday, May 19, 2017

[Bloomberg] Stocks Steady After Volatile Week; Crude Rises: Markets Wrap [Bloomberg] China Is Using the Yuan to Combat Risk of a Market Meltdown [Bloomberg] Chaos Takes Hold in Brazil as Markets Sink, Temer Vows [...]

May 18th, 2017|Daily Commentary|

Thursday, May 18, 2017

[Bloomberg] Global Stocks Plunge After U.S. Rout as Bonds Gain: Markets Wrap [Bloomberg] Brazil Markets Sink, Triggering Circuit Breaker on Fresh Crisis [Bloomberg] China's Leverage Campaign Is Turning Bond Market Upside Down [Bloomberg] Falling [...]

May 17th, 2017|Daily Commentary|

Wednesday, May 17 2017

[Reuters] U.S. stock futures, dollar fall on rising concerns over Trump [Bloomberg] Dollar Troubles Persist as Yen Gains Amid U.S. Political Turmoil [Bloomberg] Here's How Markets Are Reacting to News of the Trump-Comey Memo [...]

May 16th, 2017|Daily Commentary|

Tuesday, May 16, 2017

[Bloomberg] Dollar Falls as Traders Weigh Homes Data, Trump: Markets Wrap [Bloomberg] Ford Plans to Cut About 10% of Global Staff: WSJ [Reuters] U.S. housing starts unexpectedly fall for second straight month [Reuters] China seen [...]

May 16th, 2017|Daily Commentary|

Monday, May 15, 2017

[Bloomberg] Oil Jumps With Commodity Currencies on Output Deal: Markets Wrap [Bloomberg] China Shares Gain on Spending Program; Crude Jumps: Markets Wrap [Bloomberg] Trump Doctrine Confounds G-7 as Ministers Kick Can to Sicily [Bloomberg] [...]

May 14th, 2017|Daily Commentary|

Sunday, May 14, 2017

[Bloomberg] Unprecedented Global Cyber-Attack Poised to Spread [Reuters] France's Macron takes power, vows to overcome division [NYT] Real Estate’s New Normal: Homeowners Staying Put [WSJ] How Big Are Mutual Funds’ Puerto Rico Losses? $5.4 Billion [...]

May 14th, 2017|Daily Commentary|

Saturday, May 13, 2017

[Reuters] Treasury's Mnuchin says U.S. reserves right to be protectionist [Bloomberg] America First Divides G-7 Even as Ministers Warm to Mnuchin [Reuters] Euro zone recovery, Macron win give ECB chance to consider unwinding policy [Reuters] [...]

May 14th, 2017|Daily Commentary|

Friday, May 12, 2017

[Bloomberg] Dollar, Stocks Slip as Treasuries Rise Amid Data: Markets Wrap [Bloomberg] U.S. Reaches Deal to Allow Exports of Natural Gas, Beef to China [Bloomberg] Rebound in U.S. Consumer Prices Shows Inflation Stabilizing [Bloomberg] Gain [...]

May 12th, 2017|Daily Commentary|

Thursday, May 11, 2017

[Bloomberg] U.S. Stocks Fall as Oil Leads Commodities Rebound: Markets Wrap [Bloomberg] Rebound in U.S. Wholesale Prices Signals Inflation Pressures [Bloomberg] Jobless-Benefit Rolls at 28-Year Low Show U.S. Labor Tightness [Bloomberg] Dudley Says Fed [...]

May 10th, 2017|Daily Commentary|

Wednesday, May 10, 2017

[Bloomberg] U.S. Stocks Unperturbed by Comey, Dollar Slips: Markets Wrap [Bloomberg] Comey Ouster Threatens to Backfire on Troubled White House [Bloomberg] China Bond Yield Jumps by Most in Three Months as Rout Deepens [Bloomberg] [...]

May 9th, 2017|Daily Commentary|

Tuesday, May 9, 2017

  [Bloomberg] Dollar Advance Saps Commodity Gain; Stocks Rise: Markets Wrap [Bloomberg] Iron Ore Sags Again as Forced-Sale Speculation Gathers Momentum [Reuters] Oil steadies but rattled by concern about OPEC's clout [Bloomberg] China's Deleveraging [...]

May 8th, 2017|Daily Commentary|

Monday, May 8, 2017

[Bloomberg] U.S. Stocks Mixed, Dollar Gains After French Vote: Markets Wrap [Reuters] French vote quashes euro political risk trade [CNBC] Macron is France's next president — here’s what happens next [Bloomberg] What Analysts Are [...]

May 7th, 2017|Daily Commentary|

Sunday, May 7, 2017

[Reuters] Macron is opinion polls favorite as France elects new president Sunday [Bloomberg] China Reserves Rise a Third Month Amid Tighter Capital Controls [Bloomberg] Fed's Williams Stands by Hike Outlook as Unemployment Drops [WSJ] Labor [...]

May 6th, 2017|Daily Commentary|

Saturday, May 6, 2017

[Reuters] Kuroda says BOJ facing 'challenging' situation amid low inflation [NYT] Regulator in China Takes Aim at Anbang Insurance Group [NYT] Puerto Rico: A Debt Problem That Kept Boiling Over [WSJ] Senate Tackles Rewrite on [...]

May 6th, 2017|Daily Commentary|

May 5, 2017: Belly of the Beast

We’re at an important juncture for the global Bubble. There are growing divergences and anomalies. Market signals are increasingly conflicting and confounding: European equities in melt-up and U.S. markets at [...]

May 5th, 2017|Weekly Commentary|

Friday, May 5, 2017

[Bloomberg] U.S. Stocks Fluctuate With Treasuries on Jobs Data: Markets Wrap [Reuters] Oil spill leaves commodities spinning, safe-havens shine [Bloomberg] Payrolls in U.S. Rise by 211,000; Jobless Rate Falls to 4.4% [Bloomberg] Chinese Shares Tumble [...]

May 4th, 2017|Daily Commentary|

Thursday, May 4, 2017

[Bloomberg] U.S. Stocks Fluctuate as Oil, Treasuries Retreat: Markets Wrap [Reuters] Macron, earnings hopes send European shares to 20-month high [Bloomberg] China Stock Slump Deepens as Regulatory Crackdown Spooks Traders [Reuters] Oil prices fall [...]

May 4th, 2017|Daily Commentary|

Wednesday, May 3, 2017

Bloomberg] Stocks Sag on Apple Miss; Dollar Climbs Before Fed: Markets Wrap [Bloomberg] ADP Says Companies in U.S. Boosted Payrolls by 177,000 in April [Bloomberg] Big Summer Shutdowns Loom for U.S. Auto Plants as [...]

May 2nd, 2017|Daily Commentary|

Tuesday, May 2, 2017

[Bloomberg] Global Stocks Climb Amid Earnings as Yen Weakens: Markets Wrap [Reuters] Budget deal may map U.S. Congress road ahead, via Trump bypass [Bloomberg] Euro-Area Manufacturing Expands at Fastest Pace in Six Years [Reuters] [...]

May 1st, 2017|Daily Commentary|

Monday, May 1, 2017

[Bloomberg] Yen Weakens, Stocks Climb on U.S. Congress Deal: Markets Wrap [Bloomberg] Consumer Spending in U.S. Stalls in March [Bloomberg] Congress Inks Spending Deal That Jettisons Trump Priorities [Reuters] U.S. congressional talks yield deal [...]

April 30th, 2017|Daily Commentary|

Sunday, April 30, 2017

[Reuters] China April manufacturing growth slows faster than expected [Bloomberg] EU Throws Down Brexit Gauntlet to U.K. as Talks Edge Closer [Bloomberg] Turkey Threatens Further Strikes on U.S.-allied Syrian Kurds [FT] EU calls Theresa May’s [...]

April 30th, 2017|Daily Commentary|

Saturday, April 29, 2017

[The Hill] Five unanswered questions about Trump's tax plan [Bloomberg] Le Pen Has Potential Prime Minister, No Rush on Euro Exit [Bloomberg] EU Leaders Agree United Front Ahead of Brexit Talks [Reuters] Trump to Order [...]

April 29th, 2017|Daily Commentary|

Friday, April 28, 2017

[Bloomberg] Stocks Trim Monthly Gain Before GDP; Oil Climbs: Markets Wrap [Reuters] Oil rebounds from one-month low on hopes for output cut extension [Bloomberg] U.S. Economy Expands at Slowest Pace in Three Years [Bloomberg] [...]

April 27th, 2017|Daily Commentary|

Thursday, April 27, 2017

  [Bloomberg] U.S. Stocks Mixed, Euro Falls on ECB; Crude Slips: Markets Wrap [Bloomberg] Reprieve for Peso and Loonie After Trump's About-Face on Nafta [Bloomberg] ECB Keeps Policy Settings Unchanged Awaiting Political Clarity [Bloomberg] [...]

April 26th, 2017|Daily Commentary|

Wednesday, April 26, 2017

  [Bloomberg] Dollar Rises as Stocks Fluctuate Before Tax Reveal: Markets Wrap [CNBC] Treasury's Mnuchin: Trump wants 15 percent corporate rate in 'biggest tax cut' in US history [Bloomberg] Trump’s 15% Corporate Tax Plan [...]

April 25th, 2017|Daily Commentary|

Tuesday, April 25, 2017

[Bloomberg] Earnings Lift U.S. Stocks, Trade Jolts Currencies: Markets Wrap [Bloomberg] Trump’s 15% Corporate Tax Push Sets Stage for Clash With Ryan [Bloomberg] Trump Slaps Duty on Canada Lumber, Intensifying Trade Fight [Bloomberg] The [...]

April 24th, 2017|Daily Commentary|

Monday, April 24, 2017

[Bloomberg] Risk Back On as French Vote Ripples Across Markets: Markets Wrap [Reuters] French election relief sends Europe soaring [Bloomberg] China Stocks Sink Most in Four Months Amid Leverage Crackdown [Bloomberg] China Cools Growth [...]

April 23rd, 2017|Daily Commentary|

Sunday, April 23, 2017

[France 24] France votes in hotly contested presidential race amid tight security [Reuters] French presidential poll a bellwether for Europe [BBC] French Vote Live Coverage [Bloomberg] Draghi Seen Choosing Faster QE Exit If French Hurdle [...]

April 23rd, 2017|Daily Commentary|

Saturday, April 22, 2017

[Bloomberg] French Overseas Territories Begin Presidential Voting [Reuters] Wall Street gears up for busiest earnings week in years [Reuters] Trump orders review of financial rules to prevent future crises [NYT] Trump Vows to Unveil Tax-Cut [...]

April 22nd, 2017|Daily Commentary|

Friday, April 21, 2017

[Bloomberg] Bonds Rise as Stocks Languish Before French Vote: Markets Wrap [Bloomberg] China Stocks Head for 2017's Worst Week Amid Crackdown Concerns [Bloomberg] Ignore China's Credit Risks at Your Peril, Says Top Bond Manager [...]

April 20th, 2017|Daily Commentary|

Thursday, April 20, 2017

[Bloomberg] U.S. Stocks Rise as Treasuries, Dollar Retreat: Markets Wrap [Bloomberg] Jobless Claims in U.S. Rise While Benefit Rolls at 17-Year Low [Reuters] Chasing pair Fillon, Melenchon level as French election nears [CNBC] Republicans [...]

April 19th, 2017|Daily Commentary|

Wednesday, April 19, 2017

  [Bloomberg] Stocks Advance With Dollar as Haven Demand Eases: Markets Wrap [Reuters] Macron clings on to lead in tense French election race [Bloomberg] Melenchon Softens Attacks on Euro as French Race Tightens [Bloomberg] [...]

April 18th, 2017|Daily Commentary|

Tuesday, April 18, 2017

[Bloomberg] Pound Rises as Election Called; Europe Stocks Drop: Markets Wrap [Bloomberg] Chinese Stocks Are Unnerving Investors Again as Losses Steepen [CNBC] US housing starts total 1.215M in March vs. 1.25M starts expected [Reuters] [...]

April 17th, 2017|Daily Commentary|

Monday, April 17, 2017

[Bloomberg] Stocks Rise, Dollar Falls as Weekend Risks Fade : Markets Wrap [Bloomberg] Global Financial-Market Stress Jumps to This Year's High [Reuters] Undaunted by oil bust, financiers pour billions into U.S. shale [Reuters] The long, [...]

April 16th, 2017|Daily Commentary|

Sunday, April 16, 2017

[Reuters] North Korean test missile 'fizzles' hours before Pence arrives in South [Bloomberg] Trump Says China ‘Working With Us’ on North Korean Issue [FT] Exchange traded funds attract record inflows in first quarter

April 16th, 2017|Daily Commentary|

Saturday, April 15, 2017

[Reuters] Asian economies escape 'manipulator' tag, but expect more pressure on trade [NYT] Is American Retail at a Historic Tipping Point? [Reuters] North Korea displays apparently new missiles as U.S. carrier group approaches [WSJ] North [...]

April 15th, 2017|Daily Commentary|

Friday, April 14, 2017

[Bloomberg] Stocks Drop, Yen Gains as Geopolitical Angst Grows: Markets Wrap [Bloomberg] Consumer Prices in U.S. Fall 0.3%, First Decline in a Year [Bloomberg] Retail Sales in U.S. Declined for a Second Month in [...]

April 13th, 2017|Daily Commentary|

Thursday, April 13, 2017

  [Bloomberg] Stocks Retreat on Trump Talk as Dollar Steadies: Markets Wrap [Reuters] Trump triggers U.S. bond yield slide, dollar recovers [Bloomberg] U.S. Producer Prices Decline for First Time Since August 2016 [Bloomberg] Fear [...]

April 12th, 2017|Daily Commentary|

Wednesday, April 12, 2017

[Bloomberg] Automakers Spur Europe Stocks as Haven Dash Eases: Markets Wrap [Reuters] Yen holds near multi-month highs as risk-aversion persists [Bloomberg] Melenchon Crashes Front-Runners’ Party as French Risks Rise [Bloomberg] Why the Fed Might [...]

April 11th, 2017|Daily Commentary|

Tuesday, April 11, 2017

[Bloomberg] Gold Gains With Treasuries and Yen on Haven Demand: Markets Wrap [Bloomberg] Asia Stocks Slump as China Shares Drop, Yen Gains: Markets Wrap [Bloomberg] French Election Jitters Sets Bearish Tone for Italian Bonds [...]

April 10th, 2017|Daily Commentary|

Monday, April 10, 2017

  [Bloomberg] Oil Climbs and Stocks Are Mixed as Risks Linger: Markets Wrap [Bloomberg] French Election Risk Reawakens as Bonds Drop, Volatility Jumps [Reuters] Hopes fade for U.S. bank earnings despite rally in financial [...]

April 9th, 2017|Daily Commentary|

Sunday, April 9, 2017

[Bloomberg] Asia Stocks Set for Gains as Profit Season Starts: Markets Wrap [Bloomberg] A Foreign Threat to U.S. Treasuries That Dwarfs Fed's Debt Hoard [Reuters] G7 foreign ministers seek U.S. clarity over Syria [WSJ] [...]

April 9th, 2017|Daily Commentary|

Saturday, April 8, 2017

[CNBC] The Fed's new frontier: What happens, why it matters and what could go wrong [Reuters] Chinese state media cheer Xi-Trump meeting, say confrontation not inevitable [Spiegel] The World at a Crossroads in Syria [...]

April 8th, 2017|Daily Commentary|

April 7, 2017: Just the Facts

For the Week: The S&P500 slipped 0.3% (up 5.2% y-t-d), while the Dow was about unchanged (up 4.5%). The Utilities added 0.3% (up 5.3%). The Banks fell 1.2% (down 1.0%), and the Broker/Dealers dropped 2.4% [...]

April 7th, 2017|Weekly Commentary|

Friday, April 7, 2017

[Bloomberg] Stocks Mixed, Bonds Pare Drop as Jobs Hit Fades: Markets Wrap [Bloomberg] Gold Rises to Five-Month High as Jobs Fizzle Adds to Demand [Bloomberg] Gary Cohn Says White House Will Push ‘One Cohesive’ [...]

April 6th, 2017|Daily Commentary|

Thursday, April 6, 2017

  [Bloomberg] Stocks Pare Drop, Dollar Rises as Fed Effect Dims: Markets Wrap [Bloomberg] U.S. Jobless Claims Decline to a Five-Week Low of 234,000 [Bloomberg] Cohn Backs Wall Street Split of Lending, Investment Banks [...]

April 5th, 2017|Daily Commentary|

Wednesday, April 5, 2017

[Bloomberg] U.S. Stocks Rise on Jobs Data as Oil, Dollar Gain: Markets Wrap [Bloomberg] ADP Says Companies in U.S. Added 263,000 Employees in March [Bloomberg] U.S. Service Industries Expand at Slowest Pace in Five [...]

April 4th, 2017|Daily Commentary|

Tuesday, April 4, 2017

[Bloomberg] Global Stocks Fall After Weak Car Sales, Yen Rises: Markets Wrap [Bloomberg] The Danger of a Sell-off in U.S. Stocks Grows [Bloomberg] Trade Deficit in U.S. Narrows in February to Four-Month Low [Reuters] [...]

April 3rd, 2017|Daily Commentary|

Monday, April 3, 2017

[Reuters] Stocks start second quarter on firm note, U.S. policy in focus as Trump-Xi talks loom [Reuters] Dollar starts week on back foot, keeps above 4-month lows [Bloomberg] Fed's Rebel Defends Autonomy as Trump-Molded [...]

April 2nd, 2017|Daily Commentary|

Sunday, April 2, 2017

[Bloomberg] Asian Stocks Poised to Nudge Higher; Euro Rises: Markets Wrap [Bloomberg] China Has Its Worst-Ever Start to a Year For Defaults [Reuters] Euro is a 'knife in the ribs' of the French says [...]

April 2nd, 2017|Daily Commentary|

Saturday, April 1, 2017

[Bloomberg] PBOC Raises Interest Rates on Standing Lending Facility Loans [Reuters] Venezuela seeks to cool protests as court reverses Congress annulment [Bloomberg] Zuma Discontent Builds in South Africa's ANC Amid Calls to Quit [Reuters] Germany [...]

April 2nd, 2017|Daily Commentary|

Friday, March 31, 2017

[Bloomberg] Global Stocks Drop on Final Day of Stellar Quarter: Markets Wrap [Reuters] Dollar edges up but heads for worst quarter in a year [Bloomberg] U.S. Personal Spending Cools as Inflation Reaches Fed's Goal [CNBC] [...]

March 31st, 2017|Daily Commentary|

Thursday, March 30, 2017

  [Bloomberg] Euro Drops, Bonds Gain on Dovish ECB; Dollar Rises: Markets Wrap [Bloomberg] U.S. Fourth-Quarter Growth Revised Upward to 2.1% on Consumption [Reuters] ECB policymakers want to stick to plan, one calls for [...]

March 29th, 2017|Daily Commentary|

Wednesday, March 29, 2017

[Reuters] Global stocks slip, sterling steadies as Brexit becomes real [Bloomberg] Pound Retreats on Brexit Day; Europe Stocks Drift: Markets Wrap [Bloomberg] Asia Stocks Outside Japan Rise, Oil Extends Gains: Markets Wrap [Bloomberg] Brexit [...]

March 28th, 2017|Daily Commentary|

Tuesday, March 28, 2017

[Bloomberg] U.S. Stocks Fluctuate With Dollar as Selloff Eases: Markets Wrap [Bloomberg] Home Prices in 20 U.S. Cities Rise at Fastest Pace Since 2014 [CNBC] Risk of correction ‘quite high’ but won’t kill bull market, [...]

March 27th, 2017|Daily Commentary|

Monday, March 27, 2017

[Bloomberg] Risk Rout Eases as U.S. Stocks, Dollar Trim Losses: Markets Wrap [Bloomberg] The Biggest Risk From the Dollar's Drop May Not Be What You Would Guess [Bloomberg] America's Housing Inventory Problem, Explained in [...]

March 26th, 2017|Daily Commentary|

Sunday, March 26, 2017

[Reuters] OPEC, non-OPEC to look at extending oil-output cut by six months [Forbes] Passing Tax Reform Will Be As Difficult As Repealing Obamacare [WSJ] Republicans’ Tax Overhaul Could Face Its Own Slings and Arrows [WSJ] [...]

March 26th, 2017|Daily Commentary|

Saturday, March 25, 2017

[Bloomberg] GOP Eyes Tax Overhaul -- And Lessons From Health-Care Failure [Reuters] ECB's next policy moves are in flux: Bundesbank [Spiegel] Europe Prepares for Tough Brexit Negotiations [WSJ] Republicans Turn Eyes to Tax Overhaul After [...]

March 25th, 2017|Daily Commentary|

Friday, March 24, 2017

[Bloomberg] U.S. Stocks, Bonds Rise as Health Bill Captivates: Markets Wrap [Reuters] Risky House healthcare vote to test Trump's negotiating skills [CNBC] Health Care Vote Showdown: Republicans Look to Go Big or Go Home [Reuters] [...]

March 23rd, 2017|Daily Commentary|

Thursday, March 23, 2017

[Bloomberg] Stocks Mixed, Treasuries Gain as Health Vote Looms: Markets Wrap [Bloomberg] U.S. New-Home Sales Climbed to a Seven-Month High in February [Bloomberg] Why America's Auto Debt Boom Fuels Bubble Talk: QuickTake Q&A [Bloomberg] [...]

March 22nd, 2017|Daily Commentary|

Wednesday, March 22, 2017

[Bloomberg] Yen Gains to Weigh on Japan Stocks as Bonds Rise: Markets Wrap [Bloomberg] U.S. Stocks Rise as Rout Eases; Bonds, Gold Climb: Markets Wrap [CNBC] Here’s why the GOP is coming up short [...]

March 21st, 2017|Daily Commentary|

Tuesday, March 21, 2017

[Bloomberg] Asia Stocks Set to Follow U.S. Selloff; Bonds Gain: Markets Wrap [Bloomberg] U.S. Stocks Drop Most in 2017, Treasuries Advance: Markets Wrap [Reuters] Dollar loses more ground; yen up on safe-haven demand [Bloomberg] [...]

March 20th, 2017|Daily Commentary|

Monday, March 20, 2017

[Bloomberg] Oil Weighs on Europe Stocks as Dollar Pares Drop: Markets Wrap [Bloomberg] Dollar Hits Fresh Four-Month Low as Traders Follow Recent Trends [Reuters] UK PM May to trigger Brexit on March 29: spokesman [...]

March 19th, 2017|Daily Commentary|

Sunday, March 19, 2017

[Reuters] Markets welcome G20's FX stance, wary on trade split [CNBC] How a possible Yellen departure could spark a fire under the Fed to cut its $4.5 trillion balance sheet [Reuters] Head of China's industry [...]

March 19th, 2017|Daily Commentary|

Saturday, March 18, 2017

[NYT] Shadow Lending Threatens China’s Economy, Officials Warn [Reuters] Former U.S. officials say 'complex' relationship with China needs 'fresh start' [Bloomberg] China Pushes Back on U.S. Talk of ‘All Options’ Over North Korea [Washington Post] [...]

March 18th, 2017|Daily Commentary|

Friday, March 17, 2017

[Bloomberg] Emerging Stocks Climb Even as Global Rally Eases: Markets Wrap [Bloomberg] Manufacturing Production in U.S. Rises for Sixth Straight Month [Bloomberg] Mnuchin May Soften Brazen U.S. Trade Talk in His G-20 Debut [Bloomberg] [...]

March 16th, 2017|Daily Commentary|

Thursday, March 16, 2017

[Bloomberg] Dovish Fed, Dutch Vote Spur Stocks as Oil Advances: Markets Wrap [Bloomberg] French, Italian Bonds Boosted by Dutch Defeat for Populists [Bloomberg] Housing Starts in U.S. Climbed to Four-Month High in February [Bloomberg] [...]

March 16th, 2017|Daily Commentary|

Wednesday, March 15, 2017

  [Bloomberg] Europe Stocks, Oil Rise as Bonds Steady Before Fed: Markets Wrap [Reuters] Fed expected to raise rates as U.S. economy flexes muscle [Bloomberg] U.S. Retail Sales in February Post Smallest Gain in [...]

March 14th, 2017|Daily Commentary|

Tuesday, March 14, 2017

[Bloomberg] Oil Slumps on Saudi Output, Stocks Slip Before Fed: Markets Wrap [Bloomberg] U.S. Producer Prices Climbed More Than Forecast in February [Bloomberg] The Great Corporate Bond Rush of 2017 Persists as Fed Mulls [...]

March 13th, 2017|Daily Commentary|

Monday, March 13, 2017

[Bloomberg] Treasuries Drop, Stocks Mixed as Fed Meeting Looms: Markets Wrap [Reuters] Big banks should split off riskiest activities: FDIC's Hoenig [Bloomberg] GOP Health Plan to Increase Uninsured by 24 Million, CBO Says [Bloomberg] [...]

March 12th, 2017|Daily Commentary|

Sunday, March 12, 2017

[Bloomberg] Yen Gains as Central Bank Meetings, Elections Loom: Markets Wrap [Bloomberg] BOJ's March Plan Would Taper Bond Buying by 18% in Coming Year [Reuters] Crunch week as Fed meets on rates, Trump team joins [...]

March 12th, 2017|Daily Commentary|

Saturday, March 11, 2017

[Bloomberg] Trump's Firing of Manhattan Prosecutor Shows Escalating Battle [Bloomberg] Merkel to Warn Trump That U.S. Tax Changes May Spark Retaliation [The Hill] Obstacles mount for tax reform [Reuters] Some bank bulls grow wary on [...]

March 12th, 2017|Daily Commentary|

Friday, March 10, 2017

[Bloomberg] U.S. Stocks Rise With Treasuries Amid Jobs Data: Markets Wrap [Bloomberg] U.S. Jobs, Wages Show Solid Gains in Trump's First Full Month [Reuters] Traders keep bets on three Fed rate hikes in 2017 [...]

March 9th, 2017|Daily Commentary|

Thursday, March 9, 2017

[Bloomberg] Euro Rallies as Draghi Optimism Saps Bond Strength: Markets Wrap [Bloomberg] ECB Keeps Bond-Buying, Rates Unchanged Amid Inflation Flare-Up [Reuters] China February producer inflation fastest in nearly nine years as commodities surge [MarketWatch] [...]

March 8th, 2017|Daily Commentary|

Wednesday, March 8, 2017

[Bloomberg] Treasuries On Worst Run Since '12 as Dollar Jumps: Markets Wrap [Bloomberg] ADP Says Companies in U.S. Hired the Most in Almost Three Years [Bloomberg] Mnuchin’s Treasury Staff Picks Stall as White House [...]

March 7th, 2017|Daily Commentary|

Tuesday, March 7, 2017

[Bloomberg] U.S. Stocks Fluctuate With Dollar as Bonds Slip: Markets Wrap [Reuters] U.S. trade deficit jumps to five-year high on imports [Bloomberg] Fed Takes Fear Out of Markets as Volatility Plunges in Bonds, FX [...]

March 6th, 2017|Daily Commentary|

Monday, March 6, 2017

  [Bloomberg] Stocks Rally Stalls; Euro Falls on French Politics: Markets Wrap [Bloomberg] French Bonds Decline as Juppe Stays Out of Presidential Race [Bloomberg] China's Credit Target Implies Adding Entire German GDP This Year [...]

March 5th, 2017|Daily Commentary|

Sunday, March 5, 2017

[Reuters] China cuts growth target as it pushes through reforms, builds 'firewall' against risks [Bloomberg] China Sets Growth Target of About 6.5% Amid Pledges to Ease Risk [Reuters] South Korea says to act against China's [...]

March 4th, 2017|Daily Commentary|

Saturday, March 4, 2017

[Reuters] Trump administration to propose 'dramatic reductions' in foreign aid [Reuters] Deutsche Bank board to discuss capital hike on Sunday: sources [WSJ] Asia’s Promise Gives Way to Its Growing List of Troubles

March 4th, 2017|Daily Commentary|

Friday, March 3, 2017

[Bloomberg] Reflation Rally Retrenches Before Yellen Weighs In: Markets Wrap [CNBC] Commerce Secretary Wilbur Ross to CNBC: We'll be 'aggressive' on trade and fix bad deals [Bloomberg] Euro-Area Economy Expands Most Since 2011 as [...]

March 2nd, 2017|Daily Commentary|

Thursday, March 2, 2017

[Reuters] Dollar rises, global stocks hold highs on March Fed rate hike bets [Bloomberg] Global Stock Rally Shifts to Asia After U.S. Highs: Markets Wrap [Bloomberg] Data-Dependent Yellen Running Out of Reasons to Delay [...]

March 1st, 2017|Daily Commentary|

Wednesday, March 1, 2017

[CNBC] Dow breaks above 21,000 as stocks hit all-time highs after Trump's speech [Bloomberg] Focus Turns to Fed as Dollar Gains, Bonds Drop: Markets Wrap [Reuters] U.S. consumer spending slows; inflation pushes higher [CNBC] [...]

February 28th, 2017|Daily Commentary|

Tuesday, February 28, 2017

  [Bloomberg] Dollar Falls, Stocks Fluctuate Amid Economic Data: Markets Wrap [Bloomberg] U.S. Growth Pace Unrevised as Consumption, Investment Diverge [Bloomberg] Trump on Hook to Clarify Policies With Speech to Congress [Bloomberg] Traders Glued [...]

February 27th, 2017|Daily Commentary|

Monday, February 27, 2017

[Bloomberg] U.S. Stocks, Dollar Fluctuate Before Trump Speech: Markets Wrap [Reuters] Asia stocks erase losses but some investors await Trump talk [Bloomberg] Trillions of Dollars Are at Stake When Trump Speaks to Congress [Bloomberg] [...]

February 26th, 2017|Daily Commentary|

Sunday, February 26, 2017

[Bloomberg] Greece must not be granted a "bail in" that would involve creditors taking a loss on their loans [Reuters] China securities regulator to focus on stability, reform [WSJ] Bond Market Is Flashing Warning Signal [...]

February 26th, 2017|Daily Commentary|

Saturday, February 25, 2017

[Reuters] Record-setting stock rally faces test in Trump speech [Reuters] China summons reformer to tackle banking woes [Reuters] France's Hollande fires back at Trump over Paris comments [Reuters] Wary of Trump unpredictability, China ramps [...]

February 25th, 2017|Daily Commentary|

Friday, February 24, 2017

[Bloomberg] Stocks Sell Off as Gold Rises Before Trump Speech: Markets Wrap [Reuters] Exclusive: Trump calls Chinese 'grand champions' of currency manipulation [Reuters] China says no intention of using currency devaluation to its advantage [Bloomberg] [...]

February 24th, 2017|Daily Commentary|

Thursday, February 23, 2017

[Bloomberg] Dollar Slides as U.S. Stocks Pare Losses; Oil Up: Markets Wrap [CNBC] How Mnuchin's comments dinged the dollar, pumped up the peso [Bloomberg] Republicans Call on Fed to Halt Rules Until Trump's Picks [...]

February 23rd, 2017|Daily Commentary|

Wednesday, February 22, 2017

[Bloomberg] U.S. Stocks Fluctuate With Dollar as Bonds Advance: Markets Wrap [Bloomberg] Euro Hedging Costs Surge as Traders Respond to Political Risk [Bloomberg] China Insurance Watchdog Vows to Severely Punish Speculators [Bloomberg] China Home Prices [...]

February 22nd, 2017|Daily Commentary|

Tuesday, February 21, 2017

[Bloomberg] U.S. Stocks Add to Records, Dollar Gains With Oil: Markets Wrap [Bloomberg] Goldman Sachs Warns U.S. Stocks Are Now Reaching Peak Optimism [Bloomberg] Investors Are Charging Into Emerging Market ETFs [Bloomberg] Hedge Funds [...]

February 21st, 2017|Daily Commentary|

Monday, February 20, 2017

  [[Bloomberg] Unilever Dents Europe Stock Advance as Pound Rises: Markets Wrap [Bloomberg] French Bonds Slump as Political Campaign Still Seen Wide Open [Bloomberg] Bond Traders Are Placing Euro-Breakup Bets Again [Bloomberg] Greek Bond [...]

February 19th, 2017|Daily Commentary|

Sunday, February 19, 2017

[Bloomberg] European Bond Investors Seek Havens as Political Risks Increase [Bloomberg] Italy's Renzi Quits as Party Leader, Triggers Re-Election Fight [Reuters] U.S. carrier group patrols in tense South China Sea [WSJ] Trump Agenda Is Beset [...]

February 19th, 2017|Daily Commentary|

Saturday, February 18, 2017

[Reuters] Global Economy Weekahead: How do you say deja vu in Greek? [Reuters] Merkel suggests euro is too low for Germany [CNBC] Remember the debt ceiling? Here it comes again [NYT] Money, Power, Family: Inside [...]

February 18th, 2017|Daily Commentary|

Friday, February 17, 2017

[Bloomberg] Stocks Decline With Commodities as Pound Slumps: Markets Wrap [Bloomberg] Brexit Bulletin: Blair Calls for an Uprising [Bloomberg] Mnuchin Warned by Japan, Germany as G-20 Sees Policy Shift [Bloomberg] White House Chaos Doesn’t Bother [...]

February 17th, 2017|Daily Commentary|

Thursday, February 16, 2017

[Bloomberg] Equity Rally Falters as European Bonds Gain on ECB: Markets Wrap [Bloomberg] Frenzied Betting, Sleeping Market: Something Must Give in Oil [Reuters] Fed aims to hike rates, based on more growth and fiscal [...]

February 15th, 2017|Daily Commentary|

Wednesday, February 15, 2017

[Reuters] World stocks head towards record high on Yellen, U.S. outlook [Bloomberg] Consumer Prices in U.S. Increase by Most Since February 2013 [Bloomberg] Retail Sales in U.S. Climb More Than Forecast in Broad Advance [...]

February 14th, 2017|Daily Commentary|

Tuesday, February 14, 2017

[Bloomberg] Stocks, Dollar Falter as Investors Await Yellen: Markets Wrap [Reuters] US Producer Price Index rose 0.6% in Jan vs 0.3% increase expected [Bloomberg] Mnuchin G-20 Debut Clouded as U.S. Unspools World Currency Pact [...]

February 13th, 2017|Daily Commentary|

Treasury Sell-Off is a China Syndrome

Just looking at the numbers, it appears as if foreign investors are broadly dumping U.S. Treasuries at an unprecedented rate. On the surface, this is an alarming development, considering that these investors own almost half [...]

February 13th, 2017|Weekly Recap|

Monday, February 13, 2017

[Bloomberg] Global Stocks Keep Climbing as Treasuries Decline: Markets Wrap [Reuters] Stocks on the march as 'Trump trades' bounce back [Bloomberg] China’s Zombie Province Shows Trouble With Its Bond Market [Bloomberg] China Central Bank [...]

February 12th, 2017|Daily Commentary|

Sunday, February 12, 2017

[Bloomberg] Asia Extends Global Equity Rally as Yen Slides: Markets Wrap [Reuters] Dollar gains after Trump-Abe meet, Asian shares firm [Bloomberg] America’s Biggest Creditors Dump Treasuries in Warning to Trump [Bloomberg] Japan 4th-Quarter GDP [...]

February 12th, 2017|Daily Commentary|

Saturday, February 11, 2017

[Reuters] 'Significant uncertainty' about fiscal policy under Trump: Fed's Fischer [Bloomberg] Fischer Says Fed Focused on Goals Amid Trump Policy Uncertainty [Reuters] Greece says bailout deal close, but will not accept 'illogical' demands

February 11th, 2017|Daily Commentary|

Friday, February 10, 2017

[Bloomberg] Bonds Slump as Dollar Boosted by Trump Tax Pledge: Markets Wrap [Bloomberg] Dollar Gains as Yen on the Defensive Before Trump-Abe Meeting [Reuters] Euro zone, IMF agree on a common stance on Greece: [...]

February 9th, 2017|Daily Commentary|

Thursday, February 9, 2017

[Bloomberg] Crude Gains Lift U.S. Stocks, Bond Rally Falters: Markets Wrap [Reuters] U.S. jobless claims fall to near 43-year low [CNBC] Should Greece stay or should it go? Analysts divided on whether Greece will [...]

February 8th, 2017|Daily Commentary|

Wednesday, February 8, 2017

[Bloomberg] Treasuries Gain With Gold as U.S. Stocks Retreat: Markets Wrap [Bloomberg] Gold Reaches Three-Month High as Buyers Flock Back to Top ETF [Bloomberg] China's Raising Rates. Good for the Yuan, Bad for Bonds [...]

February 7th, 2017|Daily Commentary|

Tuesday, February 7, 2017

[Bloomberg] Reflation Trades Stall as Bonds Rise, Stocks Mixed: Markets Wrap [Reuters] Wall Street edges higher as Nasdaq hits record [CNBC] Houses are the least affordable they've been in seven years: Here's why [Bloomberg] [...]

February 6th, 2017|Daily Commentary|

Monday, February 6, 2017

[Bloomberg] Treasuries Rise, U.S. Stocks Slip on Cautious Tone: Market Wrap [Bloomberg] Philadelphia Fed’s Harker Says March Is on the Table for a Hike [Reuters] Credit conditions for most business lending unchanged in fourth [...]

February 5th, 2017|Daily Commentary|

Sunday, February 5, 2017

[WSJ] Fiscal Hole Will Test President Donald Trump’s Agenda [FT] Schäuble blames ECB for euro that is ‘too low’ for Germany [FT] Mexico warns of global impact if Nafta collapses

February 5th, 2017|Daily Commentary|

Saturday, February 4, 2017

[Bloomberg] Germany’s Merkel Would Welcome South American Trade Deal With EU [Politico] The method to President Trump's madness [Reuters] Iran vows 'roaring missiles' if threatened, defies new sanctions [NYT] China Assails U.S. Pledge to Defend [...]

February 4th, 2017|Daily Commentary|

Friday, February 3, 2017

[Bloomberg] Treasuries Rise With Stocks as Wage Data Disappoint: Market Wrap [Bloomberg] Payrolls in U.S. Increase 227,000 While Wage Growth Weakens [Bloomberg] Japan Yields Swing, China Rates Rise on BOJ, PBOC: Markets Wrap [Bloomberg] [...]

February 2nd, 2017|Daily Commentary|

Thursday, February 2, 2017

[Bloomberg] Dollar Falls as Fed Path Assessed; Stocks Retreat: Markets Wrap [Reuters] Asian shares at four-month high, dollar soft after nonchalant Fed [CNBC] Deutsche Bank posts $2 billion loss in fourth quarter as litigation costs [...]

February 2nd, 2017|Daily Commentary|

Wednesday, February 1, 2017

  [Bloomberg] Corporate Outlook Spurs Stocks as Eyes Turn to Fed: Markets Wrap [Reuters] Trump, trade adviser signal displeasure with U.S. 'strong dollar' policy [Bloomberg] Trump’s Yen Comments ‘Wide of the Mark,’ Says Japan [...]

January 31st, 2017|Daily Commentary|

Tuesday, January 31, 2017

[Bloomberg] Trump Sets Tone as Dollar Weakens, Stocks Retreat: Markets Wrap [Bloomberg] Greek Bond Yields Surge Amid Stalled Bailout Review, IMF Quarrel [Bloomberg] Asian shares rattled by Trump policy worries, dollar soft [Bloomberg] Merkel [...]

January 30th, 2017|Daily Commentary|

Monday, January 30, 2017

[Bloomberg] Stocks Lower in Risk-Off Mood as Bond Yields Rise: Markets Wrap [Bloomberg] Greek Markets Tumble as EU Holds Up Payment Amid IMF Doubts [CNBC] German inflation and French election push up borrowing costs [...]

January 29th, 2017|Daily Commentary|

Sunday, January 29, 2017

[Reuters] U.S. tech leaders sound alarm over Trump immigration order [USAT] Immigration ban fallout: What you need to know [FT] Trump defiant as Merkel leads European criticism of travel ban

January 29th, 2017|Daily Commentary|

Saturday, January 28, 2017

[CNBC] How Trump's immigration move could derail the market rally [Bloomberg] IMF Warns Eurogroup Loan Measures Not Enough for Greek Debt [WSJ] Citigroup, European Banks Stick With Mexico as Trade War Looms [AFP] Trump talks [...]

January 29th, 2017|Daily Commentary|

Friday, January 27, 2017

[Bloomberg] U.S. Stocks Fluctuate on GDP as Dollar, Gold Fall: Markets Wrap [Bloomberg] Greek Bonds Drop as Euro-Area Meeting Deadlock Continues: Chart [Bloomberg] U.S. Economic Growth Cools on Biggest Trade Drag Since 2010 [Bloomberg] [...]

January 26th, 2017|Daily Commentary|

Thursday, January 26, 2017

[Bloomberg] U.S. Stocks Mixed, Peso Falls as Wall Tension Rises: Market Wrap [Reuters] Trump seeks 20 percent tax on Mexico goods to pay for wall, crisis deepens [Bloomberg] Trump Floats 20 Percent Border Tax [...]

January 25th, 2017|Daily Commentary|

Wednesday, January 25, 2017

[Bloomberg] Dow Tops 20,000 as Earnings Feed Rally, Bonds Fall: Markets Wrap [Reuters] Reignited Trump trades boost stocks, Dow 20,000 in sight [Bloomberg] Asia Stocks Extend Global Rally on Growth Optimism: Markets Wrap [Reuters] [...]

January 24th, 2017|Daily Commentary|

Tuesday, January 24, 2017

[Bloomberg] Asian Stocks Extend Global Rally as Yen Weakens: Markets Wrap [Bloomberg] U.S. Stocks Climb on Earnings as Commodities Rally: Markets Wrap [Bloomberg] Trump Advances Keystone and Dakota Pipelines, Fulfilling Pledge [Bloomberg] Existing U.S. [...]

January 23rd, 2017|Daily Commentary|

Monday, January 23, 2017

[Reuters] Dollar, stocks slide on Trump's protectionist stance [Reuters] Dollar tumbles to seven-week low on Trump uncertainty [Reuters] Trump signs order withdrawing U.S. from Trans-Pacific trade deal [Reuters] Trump tells manufacturers he will cut [...]

January 22nd, 2017|Daily Commentary|

Sunday, January 22, 2017

[Bloomberg] Yen Gains With Gold as Stocks Decline Across Asia: Markets Wrap [Reuters] Trump says to start renegotiations on Nafta with Canada, Mexico [Bloomberg] These Companies Are at Risk in a U.S.-China Trade War [...]

January 22nd, 2017|Daily Commentary|

Saturday, January 21, 2017

[Reuters] Wall Street Week Ahead: Optimism among S&P 500 CEOs as Trump takes power [Bloomberg] Merkel Scours Trump Archive for Clues on How to Read Him [Reuters] French far-right leader Le Pen calls on Europeans [...]

January 21st, 2017|Daily Commentary|

Friday, January 20, 2017

[Bloomberg] Trump’s Presidency Opens With Combative ‘America First’ Appeal [Bloomberg] Inaugural Pomp Mixes With Whiff of Tear Gas on Day of Transition [Reuters] Wall Street ends higher as Trump takes office [Bloomberg] Haven Assets [...]

January 20th, 2017|Daily Commentary|

Thursday, January 19, 2017

  [Reuters] Wall Street flat as countdown to Trump's swearing-in begins [Bloomberg] Draghi Says ECB Unconvinced on Inflation as Pickup Driven by Oil [Bloomberg] ECB Leaves Bond-Buying Program Unchanged as Inflation Gains] [Bloomberg] American [...]

January 18th, 2017|Daily Commentary|

Wednesday, January 18, 2017

[Bloomberg] Yellen Says Economy Near Goals Warrants Gradual Rate Hikes [Bloomberg] Risk-On Stance Awaits Asia After Yellen Remarks: Markets Wrap [Bloomberg] China’s Holdings of U.S. Treasuries Drop by Most Since 2011 [Bloomberg] Commerce Pick [...]

January 17th, 2017|Daily Commentary|

Tuesday, January 17, 2017

  [Bloomberg] Dollar Drops on Trump Comments as May Boosts Pound: Markets Wrap [Bloomberg] Chinese Stocks Decline in Longest Losing Streak for Three Years [Bloomberg] Asian Stocks Drop on Concerns Over ‘Hard’ Brexit, U.S. [...]

January 16th, 2017|Daily Commentary|

Monday, January 16, 2017

  [Bloomberg] Brexit Plans Rattle Pound and Stocks as Gold Rises: Markets Wrap [Bloomberg] China Shares Head for Longest Losing Streak Since August 2015 [Bloomberg] Portugal Bonds Falter as ECB Running Out of Eligible [...]

January 15th, 2017|Daily Commentary|

Sunday, January 15, 2017

[Bloomberg] Pound Slides at Much as 1.6% as May Reported to Seek Hard Brexit [Bloomberg] Pound Drops on EU Concern, Australian Shares Gain: Markets Wrap [Reuters] Trump says Brexit to be 'a great thing', [...]

January 15th, 2017|Daily Commentary|

Saturday, January 14, 2017

[Reuters] U.S. banks to stay in fashion as earnings kick off [Bloomberg] Merkel Cites Risks in 2017, Including ‘Protectionist Tendencies’ [Reuters] Trump suggests he may do away with Russia sanctions if Moscow helpful: WSJ [CNN] [...]

January 14th, 2017|Daily Commentary|

Friday, January 13, 2017

[Bloomberg] U.S. Stocks Rise, Treasuries Fall on Economic Data: Markets Wrap [Reuters] Asian shares slip, dollar on track for losing week [Bloomberg] Wholesale Prices in U.S. Rise for Third Time in Four Months [Bloomberg] [...]

January 12th, 2017|Daily Commentary|

Thursday, January 12, 2017

  [Bloomberg] Dollar Slumps, Bonds Rally as Trump Disappoints: Markets Wrap [Bloomberg] Gold Surges Above $1,200 as Details-Shy Trump Weighing on Dollar [Bloomberg] Turkish Lira, Bonds Rally as Central Bank Tightens Liquidity [Bloomberg] Oil [...]

January 11th, 2017|Daily Commentary|

Wednesday, January 11, 2017

[Bloomberg] Asia Stocks Tip Mixed Open, Dollar Drops on Trump: Markets Wrap [Bloomberg] U.S. Stocks Rise With Crude as Dollar Rally Fades: Markets Wrap [Bloomberg] Drug Stocks Plunge as Trump Threatens to Force Price [...]

January 11th, 2017|Daily Commentary|

Tuesday, January 10, 2017

[Bloomberg] Asian Shares Climb Amid Metals Bounce as Won Slips: Markets Wrap [Bloomberg] U.S. Equities Swing With Dollar as Bonds Pull Back: Markets Wrap [Bloomberg] Fed Hawk Lacker to Retire Oct. 1, Successor Search [...]

January 9th, 2017|Daily Commentary|

Monday, January 9, 2017

[Bloomberg] Asian Shares Track U.S. Retreat While Bonds Climb: Markets Wrap [Bloomberg] Treasuries Climb With Gold While U.S. Stocks Drop: Markets Wrap [Reuters] Oil down four percent on concerns over rising Iraqi exports, U.S. [...]

January 8th, 2017|Daily Commentary|

Sunday, January 8, 2017

[Bloomberg] Dubai Stocks Lead Middle East Gains as Traders Seek Dividends [CNBC] 2016 was a terrible year for stock picking, and 2017 may not get much better [Reuters] Germany's Gabriel says EU break-up no longer [...]

January 8th, 2017|Daily Commentary|

Saturday, January 7, 2017

[Reuters] China Dec forex reserves fall less than expected to $3.011 trillion [Bloomberg] Older Americans Are Retiring in Droves [Bloomberg] Gabriel Takes Aim at Merkel, Targets SPD-Led Government Majority [Bloomberg] Turkey Fires 8,000 Civil Servants [...]

January 7th, 2017|Daily Commentary|

Friday, January 6, 2017

[Bloomberg] U.S. Stocks Set Record, Dollar Gains on Jobs Data: Markets Wrap [Bloomberg] Americans See Enduring Wage Gains as Labor Market Tightens [WSJ] Fed Officials Say More Rate Rises Coming [FT] China warns US [...]

January 5th, 2017|Daily Commentary|

Thursday, January 5, 2017

[Bloomberg] Dollar Rally Stymied by China, Fed as Gold Climbs: Markets Wrap [Reuters] Asian stocks rise for eighth day on strong PMIs, Wall Street gains [Bloomberg] China’s Epic Short Squeeze Is Back as Yuan [...]

January 4th, 2017|Daily Commentary|

Wednesday, January 4, 2017

[Bloomberg] U.S. Stocks Rise, Bonds Erase Drop on Fed Minutes: Markets Wrap [Bloomberg] Fed Officials See Gradual Rate Hikes as Upside Risks Debated [Reuters] Fed policymakers agree Trump fiscal boost poses inflation risk [Reuters] [...]

January 3rd, 2017|Daily Commentary|

Tuesday, January 3, 2017

[Bloomberg] Japanese Stocks Lead Asian Equity Gains, Oil Rises: Markets Wrap [Reuters] Wall St. pares some gains as oil prices drop [Bloomberg] China’s Credit Engine Is Running Out of Gas [Bloomberg] New Year’s Money [...]

January 2nd, 2017|Daily Commentary|

Monday, January 2, 2017

[Bloomberg] European Stocks Advance as Data Confirms Manufacturing Strength [Reuters] North American movie box office sets record in 2016 [Bloomberg] PBOC’s Ma Says New Cash Transaction Rules Are Not Capital Controls [Bloomberg] Samsung Warns [...]

January 1st, 2017|Daily Commentary|

Sunday, January 1, 2017

[Bloomberg] China Manufacturing Stabilizes Near a Post-2012 High [Reuters] China steps up scrutiny on individual forex purchases in the new year [Reuters] China's Xi says won't let anyone make 'fuss' about its territory [WSJ] Re-Energized [...]

January 1st, 2017|Daily Commentary|

Saturday, December 31, 2016

[Reuters] Investors brace for 2017 shocks after surprise 2016 run [Reuters] Wall St. thinks stocks will rise in 2017 - What could go wrong? [Bloomberg] China’s Xi Vows to Defend Maritime Interests, Sovereignty in ’17 [...]

December 31st, 2016|Daily Commentary|

Friday, December 30, 2016

[Reuters] Oil, equities, emerging markets end year of shocks on triumphant note [Bloomberg] Euro Jumps 1.6 Percent in Minutes as Algo Orders Surprise Market [Bloomberg] A Year in China Markets: Yuan Down, Stocks Down, [...]

December 29th, 2016|Daily Commentary|

Thursday, December 29, 2016

[Reuters] Dow's 20,000 barrier, weak European banks dent stocks [Bloomberg] Offshore Yuan Near 7 a Dollar on Quota Reset Concern, Trump Bets [Reuters] U.S. goods trade deficit widens; labor market near full strength [Bloomberg] [...]

December 28th, 2016|Daily Commentary|

Wednesday, December 28, 2016

[Bloomberg] Crude Rally Lifts Commodity Currencies; Bonds Rise: Markets Wrap [Bloomberg] Asian Stocks Advance While Crude and Yen Retreat: Markets Wrap [Bloomberg] China Banking Official Urges Cut to Required Reserve Ratio [Bloomberg] No Happy [...]

December 27th, 2016|Daily Commentary|

Tuesday, December 27, 2016

  [Reuters] Stocks inch higher in holiday lull [Bloomberg] Oil Gains More as Dollar Strengthens After Holiday: Markets Wrap [Bloomberg] Yuan Turnover Soars in Sign of December Outflow Pressures [Reuters] ECB tells Monte dei [...]

December 26th, 2016|Daily Commentary|

Monday, December 26, 2016

[Bloomberg] Global Shares Mixed With Yen Gaining in Thin Trade: Markets Wrap [Bloomberg] Asian Stocks Drop to 1-Month Low; Japan Down in Thin Trading [Bloomberg] China Bank Says Bond Guarantee Forged as Market Mood [...]

December 25th, 2016|Daily Commentary|

Saturday, December 24, 2016

[Reuters] Stocks could suffer as Trump trade policy takes shape [Reuters] Bundesbank brings home gold faster than planned: Weidmann [NYT] Where Does the Mortgage Settlement Money Go? [WSJ] Sovereign-Wealth Funds Threatened by Government Spending [WSJ] [...]

December 24th, 2016|Daily Commentary|

Friday, December 23, 2016

  [Reuters] Banks lift global stocks, dollar holds near 14-year peak [Reuters] Asia stocks pressured by Wall Street, dollar holds below 14-year peak [Bloomberg] Monte Paschi’s Fatal Sin Brings Nationalization for Oldest Bank [UK [...]

December 22nd, 2016|Daily Commentary|

Thursday, December 22, 2016

[Bloomberg] Dollar Resumes Trump-Fed Rally, Bonds Fall on Data: Markets Wrap [Reuters] Asian shares slip in holiday-thinned trade, focus turns to U.S. data [Bloomberg] U.S. Economic Growth Revised Up to 3.5% Pace in Third [...]

December 21st, 2016|Daily Commentary|

Wednesday, December 21, 2016

[Bloomberg] Dow Flirts With 20,000 as Oil Gains, Dollar Slips: Markets Wrap [Bloomberg] Paschi Falls to Record as Investors Balk, Liquidity Dries Up [Bloomberg] Asian Equities Gain as Dow Hits Record, Oil Climbs: Markets [...]

December 21st, 2016|Daily Commentary|

Tuesday, December 20, 2016

[Bloomberg] Stocks Climb as Markets Show Resilience; Bonds Drop With Gold [Bloomberg] China Sovereign Bonds Slump as Wealth Curbs Seen Hitting Demand [Bloomberg] Asian Shares Fall on Europe Turmoil; Yen Weakens After BOJ Move [...]

December 19th, 2016|Daily Commentary|

Monday, December 19, 2016

[Bloomberg] U.S. Stocks Fluctuate as Yen, Treasuries Strengthen With Gold [CNBC] Russian ambassador to Turkey dies after being shot in Turkish capital [Bloomberg] China H Shares Drop to Four-Week Low as Builders, Insurers Fall [...]

December 19th, 2016|Daily Commentary|

Friday, December 16, 2016

[Bloomberg] Dollar Hits Speed Bump in Fed-Driven Rally; Bonds Stem Declines [Reuters] Asia stocks tepid, dollar near 14-year peak on Fed rally [Bloomberg] China Bonds Set for Worst Week Since 2009 as Fed Adds [...]

December 15th, 2016|Daily Commentary|

Thursday, December 15, 2016

  [Bloomberg] Dollar Climbs to Strongest Since 2003 on Fed Path; Bonds Drop [Bloomberg] China’s 10-Year Sovereign Bond Yield Surges by Most on Record [Reuters] Asia stocks, currencies wobble as Fed flags more hikes [...]

December 14th, 2016|Daily Commentary|

Wednesday, December 14, 2016

[Bloomberg] Stocks Fall, Bonds Rise as Caution Prevails Before Fed Meeting [Bloomberg] Asian Stocks, Dollar Steady as Fed Day Arrives; Crude Retreats [Reuters] Countdown to first Fed hike in a year under way, but [...]

December 13th, 2016|Daily Commentary|

Tuesday, December 13, 2016

[Bloomberg] Stocks Rally as Italian Banks Lift Europe, Yen Falls Before Fed [Reuters] Asian shares, dollar wobble as investors brace for Fed outcome [Bloomberg] China Stocks Drop as Dollar Stalls on Fed Countdown, PBOC [...]

December 12th, 2016|Daily Commentary|

Monday, December 12, 2016

  [Bloomberg] Crude Soars as Output Deal Weighs on Bonds; China Shares Tumble [Bloomberg] China’s Stocks, Bonds, Yuan Slump in Unison on Liquidity Concern [Reuters] China stocks tumble the most in 6 months as [...]

December 11th, 2016|Daily Commentary|

Sunday, December 11, 2016

[Bloomberg] Italy’s Gentiloni Heads for Prime Minister Job After Renzi Quits [CNBC] Dollar debt issuance soars as central banks take a back seat: BIS report [Reuters] Shrinking FX market could pose stability risk: BIS [Bloomberg] [...]

December 11th, 2016|Daily Commentary|

Saturday, December 10, 2016

[Bloomberg] Non-OPEC Said to Join OPEC in First Global Cut in 15 Years [Reuters] Parties make their cases to Italy president for new leader [Reuters] Ping An's overseas investments impacted by China's capital outflow crackdown-CFO [...]

December 10th, 2016|Daily Commentary|

Friday, December 9, 2016

[Reuters] World stocks hold near 16-month highs after strong week [Dow Jones] Global Bond Yields Rise As Chinese Inflation Accelerates [Bloomberg] European Stocks Rise for 5th Day in Biggest Rally in 10 Months [Reuters] [...]

December 8th, 2016|Daily Commentary|

Wednesday, December 7, 2016

[Bloomberg] Banks Lead Stock Rally as Bonds Gain With Hopes Pinned on Draghi [Bloomberg] Stock Rally Extends Into Asia as Oil Falls; Aussie Sinks on GDP [Bloomberg] Bonds Plunge as Indian Policy Makers Unexpectedly [...]

December 6th, 2016|Daily Commentary|

Tuesday, December 6, 2016

[Bloomberg] Oil Falls for First Day in 5 as OPEC Euphoria Fades; Bonds Gain [Reuters] Asia stocks bounce as risk appetite returns after Italy vote [Bloomberg] Trade Deficit in U.S. Widened to a Four-Month [...]

December 5th, 2016|Daily Commentary|

Monday, December 5, 2016

[Bloomberg] Asian Stocks to Join Post-Italy Vote Rally as Volatility Abates [Reuters] Techs buoy S&P, Nasdaq; Goldman pushes Dow to record high [Bloomberg] ECB Buys Record Amount of Debt as QE Frontloaded Before Holidays [...]

December 4th, 2016|Daily Commentary|

Sunday, December 4, 2016

[Reuters] Italy votes in referendum with PM Renzi's future at stake [Bloomberg] Europe’s Populists Target Landmark Victories in Italy, Austria [BBC] Italy referendum: PM Renzi's future in the balance [AFR] Populist revolt leaves Italy [...]

December 4th, 2016|Daily Commentary|

Saturday, December 3, 2016

[Dow Jones] Irrational Exuberance: Alan Greenspan's Call, 20 Years Later [Reuters] India's Modi defends clampdown on cash economy [Washington Post] Amid global anti-establishment anger, Italy may be next in line for upheaval [Reuters] China lodges [...]

December 3rd, 2016|Daily Commentary|

Friday, December 2, 2016

[Bloomberg] Treasuries Rise With Stocks After U.S. Jobs Report; Dollar Falls [Bloomberg] Italy Referendum: What to Watch Into the Night on Sunday [Bloomberg] Austrians Fearing Worse Future May Decide Too-Close-to-Call Vote [Bloomberg] Trump Calls [...]

December 1st, 2016|Daily Commentary|

Thursday, December 1, 2016

[Bloomberg] Treasuries Drop Before Jobs Data as Oil Gains; Tech Shares Sink [Reuters] Fed may face unnerving shake-up under Trump administration [Reuters] $4.1 billion pulled from U.S.-based taxable mutual bond funds during week: Lipper [...]

November 30th, 2016|Daily Commentary|

Wednesday, November 30, 2016

[Bloomberg] Asian Shares Set for Gains Amid Oil Deal as Bond Selloff Deepens [Reuters] Oil jumps over 8 percent as OPEC finalizes output cut deal [Reuters] Treasuries -Yields rise as oil deal boosts inflation [...]

November 29th, 2016|Daily Commentary|

Tuesday, November 29, 2016

[Reuters] Asia stocks edge up on U.S. growth data cues; dollar steady [Bloomberg] Oil Slides Amid Uncertainty Over OPEC Deal as U.S. Stocks Climb [Bloomberg] Asia Is About to Face a Significant Dollar Stress [...]

November 28th, 2016|Daily Commentary|

Monday, November 28, 2016

[Bloomberg] Trump Trades Falter as Stocks Fall; Treasuries Rally With Gold [Bloomberg] Italian Lenders Slide on Vote Worries to Drag Down Europe Stocks [Bloomberg] Best Emerging-Market Bonds Jolted as India’s RBI Drains Cash [Reuters] [...]

November 27th, 2016|Daily Commentary|

Sunday, November 27, 2016

[Bloomberg] Oil Slump Sinks Asian Stocks Before OPEC as Yen Takes on Dollar [Bloomberg] Dollar Pulls Back Amid Yen Gains as Stocks Diverge; Crude Sinks [Reuters] U.S. shoppers spend less over holiday weekend amid [...]

November 27th, 2016|Daily Commentary|

Saturday, November 26, 2016

[Spiegel] Germany Prepares for Trade Conflict with Trump [Bloomberg] South Korea Protesters Hold Mass Rally Demanding Ouster of Park [Bloomberg] Castro's Death a Reminder in China of Changed Communist Axis

November 26th, 2016|Daily Commentary|

Friday, November 25, 2016

[Bloomberg] Dollar Pares Weekly Gain as Gold Rebounds; S&P 500 Futures Rise [Bloomberg] Dollar’s 3-Week Rally Versus Yen Is the Biggest Since ’95 [Bloomberg] Slew of U-Turns Blight Modi’s Cash Ban, Leaving Indians Outraged [...]

November 24th, 2016|Daily Commentary|

Thursday, November 24, 2016

[Bloomberg] Dollar Surge Weighs on Emerging Markets as Copper Extends Rally [Bloomberg] Asia’s Accelerating Currency Rout Set to Sideline Central Banks [Bloomberg] Rupee Sinks to Record as Foreign Funds Dump Indian Assets on Fed [...]

November 23rd, 2016|Daily Commentary|

Wednesday, November 23, 2016

[Bloomberg] Most on Fed Saw Rate Hike Relatively Soon With Less Labor Slack [Bloomberg] Inside the Fed’s November Minutes: The Annotated Meeting [Bloomberg] Treasuries Plunge Sends Yields to 16-Month High on Economic Data [Bloomberg] [...]

November 22nd, 2016|Daily Commentary|

Tuesday, November 22, 2016

[Bloomberg] Asian Shares Set for More Gains With Japan Shut as Bonds Retreat [Bloomberg] U.S. Stocks Climb to Record Highs as Dow Tops 19,000; Oil Falls [Bloomberg] Trump Looks to Put Stamp on Fed [...]

November 21st, 2016|Daily Commentary|

Monday, November 21, 2016

[Bloomberg] S&P 500, Dow, Nasdaq, Russell 2000 Hit Record Highs as Oil Jumps [Bloomberg] China May Face Yuan Float if Capital Controls Fail [Bloomberg] Three Charts Signal Dark December for Slumping China Bond Market [...]

November 20th, 2016|Daily Commentary|

Sunday, November 20, 2016

[Reuters] Asian shares on the defensive as U.S. yields, dollar rise [Bloomberg] Japanese Shares Extend Rally to Eighth Day as Yen Holds Decline [Bloomberg] Japan Imports Continue Decline, Exports Fall More Than Forecast [Bloomberg] [...]

November 20th, 2016|Daily Commentary|

Saturday, November 19, 2016

[Spiegel] A Turning Point for Globalization - Inequality, Market Chaos and Angry Voters [CNBC/NYT] Italy’s Banks Are in a Slow-Motion Crisis. And Europe May Pay. [NYT] Showdown Looms as U.S. Questions Chinese Deal for Aixtron

November 19th, 2016|Daily Commentary|

Friday, November 18, 2016

[Bloomberg] Trump-Trade Rally Pushes Dollar to Weekly Surge as Bonds Slump [Bloomberg] Puerto Rico Board Warns Deep Debt Cuts Needed to Steady Island [Bloomberg] Fight Over Puerto Rico Debt Heats Up as Creditors Fire [...]

November 17th, 2016|Daily Commentary|

Thursday, November 17, 2016

[Bloomberg] Asia Stocks Set for More Gains Amid Stronger Dollar After Yellen [Bloomberg] Treasury Yields Reach Year’s High as Fed on Track for Rate Hike [Reuters] Wall street stocks lifted by data, earnings Yellen [...]

November 16th, 2016|Daily Commentary|

Wednesday, November 16, 2016

[Reuters] Dow, S&P drop as financials' rally ebbs, tech boosts Nasdaq [Bloomberg] Dollar Posts Longest Winning Streak Since 2012 as Fed Hike Seen [Bloomberg] Investors Just Flooded Into Financials at the Fastest Weekly Pace [...]

November 16th, 2016|Daily Commentary|

Tuesday, November 15, 2016

[Reuters] Wall Street rises, lifted by technology and energy stocks [Bloomberg] Bonds Rise With Emerging Markets After Trump Selloff; Oil Surges [Bloomberg] Oil Jumps Most in Seven Months as OPEC Members Seen Pushing Deal [...]

November 14th, 2016|Daily Commentary|

Monday, November 14, 2016

[Bloomberg] Selloff in Bonds, Emerging-Market Assets Deepens as Dollar Gains [Reuters] Wall Street ends flat as financials' rise offsets tech drop [Bloomberg] Bond Rout Lifts U.S. Yields to 2016 High on Trump Stimulus Bets [...]

November 13th, 2016|Daily Commentary|

Sunday, November 13, 2016

[Bloomberg] Emerging-Market Rout Extends to Gulf Stocks on Trump Policy Risk [Bloomberg] Iran Pumps More Oil as Saudi Minister Calls for OPEC Output Cuts [Reuters] Investors dodge China's whack-a-mole outflow curbs [FT] Investor repositioning [...]

November 13th, 2016|Daily Commentary|

Saturday, November 12, 2016

[Bloomberg] France’s Bonds Feel Election Jitters as Trump Spurs Market Split [LA Times] Trump hammered the Federal Reserve as a candidate. As president, he could quickly reshape it [Reuters] Trump may already have a [...]

November 12th, 2016|Daily Commentary|

Friday, November 11, 2016

[Bloomberg] Stocks Fall With Emerging Markets as Traders Weigh U.S. Election [Bloomberg] Trump Butterfly Effect Routs Currencies, Bonds as Copper Surges [Bloomberg] Carry Trades Collapse as Emerging-Market Yield Advantage Shrinks [Bloomberg] Italy’s Bonds Tumble [...]

November 10th, 2016|Daily Commentary|

Thursday, November 10, 2016

[Bloomberg] Dow Average Rallies to Record as Treasuries Slide on Trump Bets [Bloomberg] Tech Stocks Are Getting Crushed [FXStreet] Brazilian real tumbles to lowest since June [Bloomberg] Wells Fargo Leads Banks Up as Trump [...]

November 9th, 2016|Daily Commentary|

Wednesday, November 9, 2016

[Bloomberg] U.S. Stocks Surge as Banks, Drugmakers Rally Amid Trump Victory [Reuters] Wall Street surges after Trump wins White House [Dow Jones] 10-year Treasury Yield Above 2% In ''fear Trade'' As Trump Presidency Looms [...]

November 8th, 2016|Daily Commentary|

Tuesday, November 7, 2016

[Bloomberg] Stocks, Bonds, Dollar Little Changed as Americans Cast Ballots [Reuters] Asian shares edge up as investors cautiously optimistic on Clinton win [Bloomberg] Yuan Heads Toward Six-Year Low as Capital Outflows Fuel Weakness [Bloomberg] [...]

November 7th, 2016|Daily Commentary|

Monday, November 7, 2016

[Reuters] Wall St. soars as FBI clears Clinton ahead of Election Day [Bloomberg] China's Investors Get Creative About Capital Controls [Reuters] ECB's Lautenschlaeger 'skeptical' of further policy easing [Bloomberg] Markets Mimic Pre-Brexit Conditions Before [...]

November 6th, 2016|Daily Commentary|

Sunday, November 6, 2016

[Bloomberg] Peso Soars, Loonie Gains as FBI Says Clinton E-Mails Not a Crime [Bloomberg] Election Fears Have Hedge Funds Hiding Out in Gold [Bloomberg] China's Moves to Cool Property Prices May Be Working

November 6th, 2016|Daily Commentary|

Saturday, November 5, 2016

[NYT] ‘We Almost Have Riots’: Tensions Flare in Silicon Valley Over Growth [CNBC] Alarm grows as smart home technology and hacking risks proliferate [AP] Tens of thousands in South Korea call for president to quit [...]

November 5th, 2016|Daily Commentary|

Friday, November 4, 2016

[Bloomberg] Stocks Extend Pre-Vote Selloff as Treasuries Gain; Lira Weakens [Bloomberg] Oil Heads for Weekly Drop After Erasing OPEC Algiers Deal Gains [Bloomberg] Yuan Falls to Record Low Versus Peers as PBOC Seen Allowing Drop [...]

November 4th, 2016|Daily Commentary|

Thursday, November 3, 2016

[Reuters] S&P 500 losing streak runs to 8 days as Facebook weighs [Bloomberg] Is China Repeating Japan’s Missteps? [Reuters] Egypt floats pound, eyes IMF deal within days [Bloomberg] Junk-Bond Sales Cool in Market’s Worst [...]

November 3rd, 2016|Daily Commentary|

Wednesday, November 2, 2016

        Evening Links [Bloomberg] Fed Sets Up Possible December Move While Leaving Rates on Hold [Bloomberg] December Fed Hike Odds Approach 80% as Traders Pivot to Payrolls [Bloomberg] The S&P May [...]

November 2nd, 2016|Daily Commentary|

Weekly Recap 10-7-16

We are sorry but, there will not be a recap today. Dave Burgess is out of the office on a business trip. Thank you for your understanding.

October 7th, 2016|Weekly Recap|

Weekly Commentary: Reversals

Commenting on Friday’s jump in global bond yields, a fund manager on Bloomberg Television downplayed the move: “Yields are back to where they were last week.” Such thinking badly misses the point. Greed and Fear [...]

September 10th, 2016|Weekly Commentary|

Weekly Recap

Due to our activities this weekend meeting with clients, our weekly recap will resume next week on September 2. Thank you for your understanding.

August 26th, 2016|Weekly Recap|

Weekly Commentary: Inflation

(Email from reader T.B.) “These various stages of capitalism, or finance, are interesting and descriptive. But I think the progression is rather simply explained as an ongoing perversion of capitalism caused by inflation: credit expansion [...]

August 13th, 2016|Weekly Commentary|

Weekly Commentary: Inflation

(Email from reader T.B.) “These various stages of capitalism, or finance, are interesting and descriptive. But I think the progression is rather simply explained as an ongoing perversion of capitalism caused by inflation: credit expansion [...]

August 13th, 2016|Weekly Commentary|

Weekly Commentary: Scary Time

Just another week of the “new normal”. Celebratory talk of “helicopter money,” a melt-up in stocks, another terrorist attack in France and a coup attempt in Turkey. Let’s start with Japan, with the preface that [...]

July 16th, 2016|Weekly Commentary|

Still Bouncing – July 8, 2016

Here’s the news of the week – and how we see it here at McAlvany Wealth Management: Still Bouncing Overseas stocks were mostly weaker as Brexit continued to shake things up across Europe and Asia. [...]

July 8th, 2016|Weekly Recap|

Weekly Commentary: Reminiscing about 2012

Credit booms are powerfully reinforcing. New Credit provides additional purchasing power that spurs spending, economic output, corporate earnings/cash-flow and income growth. Monetary expansions, as well, fuel inflating asset prices, most notably in securities and real [...]

June 18th, 2016|Weekly Commentary|

Weekly Commentary: Reminiscing about 2012

Credit booms are powerfully reinforcing. New Credit provides additional purchasing power that spurs spending, economic output, corporate earnings/cash-flow and income growth. Monetary expansions, as well, fuel inflating asset prices, most notably in securities and real [...]

June 18th, 2016|Weekly Commentary|

Commentary: Ominous Portents

Friday headlines from Bloomberg: “Retail Sales Rise Most in a Year, Marking U.S. Consumer Comeback” and “Consumers Turn Out to Be U.S. Growth Lifeline After All.” Ironically, U.S. retail stocks (SPDR S&P Retail ETF) were [...]

May 14th, 2016|Weekly Commentary|

Weekly Commentary: The Red Line

April 25 – Financial Times (Jennifer Hughes): “Stand easy — or easier, at least. Ten basis points might not be the biggest one-day change for borrowing costs in China’s vast $7tn bond markets, but it [...]

April 30th, 2016|Weekly Commentary|

Weekly Commentary: More on China

Let’s return to last week’s theme of China as the “marginal source of global Credit and liquidity” for a runaway global Bubble that has been pierced at the periphery. It is difficult for my thoughts [...]

April 23rd, 2016|Weekly Recap|

Weekly Commentary: Bubble Economy or Not?

"The US economy has made tremendous progress in recovering from the damage from the financial crisis. Slowly but surely the labor market is healing. For well over a year, we have averaged about 225,000 jobs [