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JPM
U S existing home sales rise trend weak
By Lucia Mutikani WASHINGTON Reuters U S home sales unexpectedly rose in November but recorded their biggest annual decline in 7 1 2 years as the housing market remained mired in weakness There are concerns that the persistent housing market weakness could spill over to the broader economy which continues to be...
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Gold s Week Of Consolidation
Precious metals continued their consolidation this week with gold drifting off 10 to 1195 as of last night and silver by 0 42 to 15 85 Intra day trading ranges are relatively tight with buyers of physical metal on the dips and sellers of paper contracts capping rises There is little doubt that the global economi...
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Euro Rally Fueled By Rising Yields As Economic Momentum Cools
Fundamental Forecast for Euro Neutral The euro run against the US dollar has benefited from the bearish technical nature of the US dollar Index Exogenous influences particularly the unwinding of the ECB s QE driven trade positions are driving FX markets It was a rather uninspired week for the Euro as traders ...
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Deutsche Bank held talks with Citi BNP on shedding chunk of equities business Wall Street Journal
Reuters Deutsche Bank DE DBKGn has held talks with Citigroup Inc N C BNP Paribas SA PA BNPP and others that could involve transferring parts of its equities business including operations that serve hedge funds and other big trading customers the Wall Street Journal reported on Tuesday Sources told R...
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Dollar edges up as Fed tax reform news awaited
By Saikat Chatterjee LONDON Reuters The dollar edged higher on Wednesday as markets awaited further news on the possible appointment of a hawk as Fed chair and progress on U S tax reforms The dollar index DXY rose 0 1 percent to 93 58 extending a rebound from Friday s 2 1 2 week low of 92 749 It rose as high...
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Dividend 15 Split Corp declares CAD 0 10 dividend
Dividend 15 Split Corp OTC DVSPF declares CAD 0 10 share monthly dividend in line with previous Forward yield 11 03 Payable Nov 10 for shareholders of record Oct 31 ex div Oct 30 Now read
JPM
Shell Eni to face 1 1B lawsuit in 2011 Nigerian oil deal
Nigeria s government says it has filed a 1 1B lawsuit against Royal Dutch Shell LON RDSa RDS A RDS B and Eni NYSE E in a commercial court in London in a complaint related to the 2011 OPL 245 oilfield deal OPL 245 also is at the heart of an ongoing corruption trial in Italy where prosecutors allege 1 1B in br...
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Renewed Demand For Dollar Funding In The Eurozone
In 2011 as the sovereign debt crisis engulfed the Eurozone the EUR USD swap basis was deep in the negative territory It was caused to a large extent by US money market funds who refused to roll dollar denominated commercial paper issued by European banks Just as the Lehman commercial paper exposure turned toxic ...
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The China Bull Rages On
The rally in the Shanghai stock market that began last year has seen the index rise nearly 90 percent since July 1 2014 from 2050 to 3860 as of this writing The Shanghai and Shenzhen stock exchanges are the markets most accessible to mainland Chinese investors and until last year were relatively inaccessible to o...
JPM
JPMorgan JPM Beats On Q4 Earnings Excluding Tax Impact
Have you been eager to see how JPMorgan Chase Co NYSE JPM performed in Q4 in comparison with the market expectations Let s quickly scan through the key facts from this New York based major global bank s earnings release this morning An Earnings BeatJPMorgan came out with earnings of 1 76 per share which beat ...
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Morgan Stanley Reports Beat on Earnings Revenue
Investing com Morgan Stanley reported third quarter earnings and revenue that beat analysts expectations on Tuesday The firm reported second quarter earnings per share of 0 93 on revenue of 9 91 billion Analysts had expected EPS of 0 81 on revenue of 9 01 billion The bank said wealth management revenue came i...
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MORGAN STANLEY A stock market correction is looking more likely
Earnings season can be a euphoric time for stocks It s a time when companies have the opportunity to show off growth that matches their valuations and it can give traders looking to put money to work the rationale they need to invest However that may not be the case this time around Morgan Stanley NYSE MS warn...
JPM
Finablr s UAE Exchange Ripple to begin blockchain payments by first quarter
By Tom Arnold DUBAI Reuters United Arab Emirates based UAE Exchange and U S startup Ripple plan to launch cross border remittances to Asia via blockchain by the first quarter of 2019 UAE Exchange s group CEO said in an interview Asia was one of the biggest recipients of the roughly 613 billion in remittances se...
JPM
Weekly Comic Is a Santa Claus Rally Coming to Wall Street
Investing com After getting hammered at the start of the month Wall Street s major indexes attempted to bounce back this week with the market enjoying a three day win streak heading into Thursday The tentative rebound fueled hopes among market participants that Santa Claus will deliver on his traditional end of ye...
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Meet The Worst Forecasters Ever The Fed
I have been tracking the Federal Reserves ever since they begin releasing their forecasts The purpose of tracking these projections was to compare the Fed s forecasts with what eventually became reality The record is now clear they are the worst economic forecasters ever The most recent release of the Fed s eco...
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Markets Price In Greek Default
We begin with Greece where the markets are now pricing in a substantial probability of sovereign default and potentially Grexit The Greek banking system is losing deposits while the fiscal situation is deteriorating rapidly Yet a compromise with the Eurogroup remains elusive Both parties are prepared to take this ...
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Activist Update
Activist hedge funds can be a positive force Although this isn t always true Keith Meister of Convergex so abused ADT investors that his actions caused us to apply the Corvex Discount to other stocks in his viewfinder it s probably more often than not beneficial to existing investors when a hedge fund shows up T...
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Deutsche Bank Weighs Senior Shakeup as CEO Purges Top Ranks
Bloomberg Deutsche Bank AG DE DBKGn Chief Executive Officer Christian Sewing is planning sweeping changes to his top management considering replacing finance chief James von Moltke and investment banking head Garth Ritchie as he purges executives who rose under his predecessor The bank is expected to decide...
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For Japan Inc discretion is the better part of activist valor
By Tomo Uetake TOKYO Reuters As Japan enters the busiest period of its annual general meeting season shareholders will submit a record number of proposals to companies amid signs activist efforts to instigate change among conservative corporates are bearing fruit But while overt and direct activism has stepped up...
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Draghi Tests Legal Limits Again With Claim of QE Flexibility
Bloomberg Mario Draghi is once again testing the boundaries of the law in his efforts to lift the euro zone out of its economic malaise When the European Central Bank president promised last week to add monetary stimulus if the outlook doesn t improve he said one option is to resume large scale purchases of gove...
JPM
Opening Bell Dollar Extends Rally Oil Pushes Past 62 Gold Slips
Key Events US stocks moved higher for a fifth consecutive day yesterday with 3 of the 4 major indices hitting fresh records The S P 500 gained 4 56 points or 0 17 percent moving to 2727 71 The NASDAQ Composite climbed on the strength of semiconductors The tech heavy NASDAQ moved higher by 20 83 points 0 29 perc...
JPM
5 Reasons To Buy JPMorgan Chase JPM Ahead Of Earnings
On Friday January 12th JPMorgan Chase JPM will release its fourth quarter earnings results after the bell The company is a Zacks Rank 3 Hold and have a Value Growth and Momentum score of F Dave will look at JPMorgan Chase s past earnings take a look at what is currently going on with the company and give u...
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Washington noise a buying opportunity for Centene Morgan Stanley
The selloff in Centene CNC 4 5 from the Trump administration s plan to terminate health insurance subsidies to insurers is exaggerated according to Morgan Stanley NYSE MS Shares were down almost 11 before before bargain hunters jumped in In note analyst Gary Taylor says investors misunderstood the potentia...
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Morgan Stanley clips PT on Buffalo Wild Wings
Morgan Stanley NYSE MS cuts its price target on Buffalo Wild Wings NASDAQ BWLD to 112 from 123 on concerns over revenue visibility wing costs headwinds and a lack of clarity on management changes Shares of Buffalo Wild Wings closed at 102 35 on Friday vs a 52 week trading range of 95 00 to 175 10 Now read...
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Analyst coverage launches on Despegar com
Analyst coverage starts on Despegar com NYSE DESP following the IPO of the online travel site Morgan Stanley NYSE MS starts off Despegar at Equal weight with a price target of 31 UBS initiates at Neutral with a price target of 36 Bullish Keybanc charges out with an Overweight rating and price target of 40 ...
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PG E shares have overreacted to California fire risk Morgan Stanley says
PG E PCG 8 2 remains mired in steep losses even as the stock is defended at Morgan Stanley NYSE MS in light of recent weakness related to the California wildfires Morgan Stanley analyst Stephen Byrd believes PG E shares likely have overreacted noting that the stock reflects 5 6B in fire related damage a to...
JPM
JPMorgan sees latest sell off overpricing recession risk
JPMorgan Chase NYSE JPM sees the pessimism in equity and high yield bond markets as overdone as it sees only a 20 to 30 chance of a recession in 2019 with an increased probability in 2020 Bloomberg reports The bank s strategists led by John Normand analyzed equity valuations and credit spreads for high yield b...
JPM
U S job openings data points to growing worker shortage
By Lucia Mutikani WASHINGTON Reuters U S job openings rebounded in October but hiring continued to lag suggesting a recent slowdown in job growth was most likely because employers could not find qualified workers The monthly Job Openings and Labor Turnover Survey or JOLTS released by the Labor Department on M...
JPM
Foreign investors spurn U S Treasuries as curve threatens to invert
By Tomo Uetake and Saikat Chatterjee TOKYO LONDON Reuters A worrying sign of inversion in the U S Treasury bond curve is dulling the appeal of the developed world s highest yielding bond market for foreign investors Overseas investors are reviewing their investments or shunning Treasuries as rates at the short en...
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The Week Ahead Will Housing Finally Help The Economy
The economic calendar includes much more housing data than we normally see in a single week With Fed Chair Yellen s Congressional testimony and the GDP revisions also on tap I expect many observers to be linking these topics They will ask Is it finally time for a housing rebound Prior Theme Recap In last week s W...
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Analysts Weigh in on Shake Shack in Reaction to High Valuation
Popular upscale hamburger chain Shake Shack Inc NYSE SHAK announced its highly coveted IPO on January 30th pricing shares at 21 to start Investors were eager to get their hands on Shake Shack shares more than doubling the stock s price on its first day of trading and closing at 45 90 The company currently operat...
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Russia May Be Testing U S Gas Nerve With Europe Push Citi Says
Bloomberg Russia s strong natural gas shipments to Europe may be an attempt to test the resilience of U S exporters according to Citigroup Inc NYSE C Shipments this year from Russia have helped boost European gas storage to near full capacity and exacerbated the region s oversupply the bank s analysts incl...
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How China Overpowered the U S to Win the Battle for Rare Earths
Bloomberg It was Beijing s decision almost 30 years ago to make rare earths a strategic material and ban foreigners from mining them that helped pave the way for China to elbow aside the U S as the world s leading producer In the intervening period as China tightened control of domestic output of rare earths ...
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Underlying U S producer inflation boosted by services
By Lucia Mutikani WASHINGTON Reuters Underlying U S producer prices increased solidly for a second straight month in May boosted by a surge in the cost of hotel accommodation and gains in portfolio management service fees The report from the Labor Department on Tuesday likely will support the Federal Reserve s v...
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Bank of Russia Resumes Easing Cycle With First Cut in a Year
Bloomberg Go inside the global economy with Stephanie Flanders in her new podcast Stephanomics Subscribe via Pocket Cast or iTunes Russia cut interest rates for the first time since March 2018 and signaled more monetary easing at one of its upcoming meetings as growth slowed and inflation retreated closer to t...
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UBS to Lose China Bond Deal After Economist s Pig Remark
Bloomberg One of China s biggest state owned infrastructure companies excluded UBS Group AG from a bond deal after the bank s global chief economist sparked a furor with his use of the phrase Chinese pig China Railway Construction Corp decided against hiring UBS as a joint global coordinator on a dollar bond s...
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Citi combines rates and currencies businesses
By Imani Moise Reuters Citigroup Inc NYSE C said on Monday it is combining its Foreign Exchange Local Markets and G10 currencies businesses into one unit We believe this more streamlined operating model will drive better client service risk management and profitability the co heads of the markets divisio...
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Banks to include CO2 emission measures in shipping loan decisions
By Jonathan Saul LONDON Reuters A group of leading banks will for the first time include efforts to cut carbon dioxide emissions in their decision making when providing shipping company loans executives said on Tuesday International shipping accounts for 2 2 of global carbon dioxide CO2 emissions and the U N ...
JPM
Looking Ahead To Q4 Earnings
Monday January 8 2018We are seeing pre market trading slightly in the red to start a new week of trading but this is to be expected it s not often we see the Dow climb 577 points like we did last week not even in this exuberant bull market rally that began more than a year ago Not even a disappointing headline o...
JPM
It s The Earnings Season Again
We are seeing pre market trading slightly in the red to start a new week of trading but this is to be expected it s not often we see the Dow climb 577 points like we did last week not even in this exuberant bull market rally that began more than a year ago Not even a disappointing headline on non farm payrolls las...
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Pricey property leaves Hong Kong families struggling to buy own home
By Venus Wu HONG KONG Reuters When Hong Kong Chief Executive Carrie Lam officially announced a new Starter Homes scheme on Wednesday to help middle class families own their first home 27 year old bank employee Jeffrey Chan was left unmoved The combined income of Chan and his fiancee is about HK 7 000 897 01 ...
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Sterling long bets under pressure as Brexit noises grow
By Fanny Potkin LONDON Reuters Britain s pound steadied on Wednesday holding just above a one month low hit as investors grew concerned on whether entrenched expectations of higher UK interest rates were reasonable given a backdrop of uncertain Brexit negotiations Noises around Brexit negotiations grew louder aft...
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Cautious Fed pins dollar to two week lows euro rises
By Saikat Chatterjee LONDON Reuters The dollar struggled near a two week low on Thursday as minutes of the last U S Federal Reserve meeting raised expectations that future interest rate increases would be limited after policymakers revealed a more cautious outlook toward inflation It is no longer about the timin...
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Airbnb targets business travelers to France
By Dominique Vidalon and Pascale Denis PARIS Reuters Business travelers to France are in the sights of online rental marketplace Airbnb according to a senior official on Thursday at the company best known for hosting holidaymakers Airbnb For Business was launched in 2015 for companies looking for new and cheaper ...
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Hawaiian Holdings falls back as analysts take shots
Cowen lowers its price target on Hawaiian Holdings HA 2 5 to 43 from 47 to adjust for the expected announcement of Southwest flying in and out of Hawaii Morgan Stanley NYSE MS takes its price target all the way down to 30 as it backs an Underweight stance Hawaiian Holdings has been an underperformer this y...
JPM
JP Morgan targets mid sized firms in challenge to European banks
By Inti Landauro and David Henry PARIS NEW YORK Reuters Thumbing through a thick binder detailing European mid sized and family owned firms JP Morgan s N JPM Doug Petno has his sights set on a business Europe s banks have kept to themselves This list is heavily curated handpicked Petno the New York based C...
JPM
Trading Trump Wall Street stresses over White House comments
By Lawrence Delevingne and Trevor Hunnicutt NEW YORK Reuters JPMorgan Chase Co s N JPM trading desk was not buying what U S President Donald Trump was selling this week On Tuesday major stock indexes plummeted more than 3 percent on renewed fears of a trade war with China just days after Trump tweeted fol...
JPM
Lyft officially files paperwork for an IPO
said Thursday that it has filed a confidential draft registration statement with regulators to go public It s the first major ride hailing company to officially launch its IPO beating its much larger competitor Uber Lyft s offering is widely expected to come in early 2019 has officially filed paperwork with the t...
JPM
Sleeping bags and mini golf as traders brace for Brexit all nighter
By Lawrence White and Ben Martin LONDON Reuters As lawmakers gather in Britain s parliament on Tuesday to vote on the future of the country s relationship with Europe traders in London s financial hub will be bracing for a potential burst of market turmoil that could affect the Brexit process itself Sterling plun...
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Copper Boosted On Chinese Lending
Copper rebounded from the lowest price in more than five years after a surge in credit growth eased concern that demand will slow in China the world s top user The faster than estimated estimated gains for financing spurred a rally for Chinese equities amid speculation that authorities are taking steps to support eco...
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361 Capital Weekly Research Briefing SNB Decision Good For CHF Longterm
Should a 5 standard deviation move in the Swiss franc be named a Black Swan or Black Cygnet The big story this week was outside of U S stocks as the Swiss National Bank shocked the markets by announcing the removal of the EUR CHF 1 20 floor It also cut the rate on sight deposit account balances by 50 bp to 0 7...
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Gold s New Friend The Swiss Franc
While I predicted a huge rally in gold would usher in the new year of 2015 in a spectacular way the top bank economists have failed again Most of them predicted No rally for gold Their dire predictions in 2014 all failed to materialize and this year they are off to an even worse start The bank economists quite...
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Palladium When Markets Disagree With Fundamentals
There is an interesting piece on palladium on Bloomberg entitled The article makes some logical points regarding global auto demand and the global palladium supply demand dynamic The article even includes quotes such as the following U S auto demand is incredibly strong and might even surpass previous peaks th...
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Radical Leftists Win Election In Greece Future Of Eurozone In Crisis
Radical leftists have been catapulted to power in Greece and that means that the European financial crisis has just entered a dangerous new phase Syriza which is actually an acronym for Coalition of the Radical Left in Greek has 36 percent of the total vote with approximately 80 percent of the polling stations re...
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DAILY FX WRAP USD JPY Trends Down EUR CHF Touches 1 0382
USD JPY USD JPY has trended downward throughout the European session breaking below 118 00 in the process aided by the safe haven flows into the JPY given the risk off sentiment in the market The poor US Durable Goods Orders Dec M M 3 4 vs Exp 0 3 further dampened sentiment in the US coupled with the slew off p...
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The Danger of Indices
We re surrounded by investment products that track indices S P 500 index funds seek to replicate the performance of the S P 500 index easily accomplished by simply buying the constituent stocks in designated weights Other indices are more difficult to track for example when the product invests in futures to appro...
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Citigroup names Ida Liu head of North America private bank memo
Reuters Citigroup Inc NYSE C has named Ida Liu to head its private bank in North America according to an internal memo seen by Reuters Liu replaces Tracey Warson who the bank announced in April would take on a more advisory role in the business as chairman
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Forget the Trade War Citi Sees Brent at 78 Within Three Months
Bloomberg Forget the trade war and global growth pessimism Citigroup Inc NYSE C is sticking to its target of Brent oil rising to 78 a barrel in three months Supply risks rising demand over the northern summer light fund positioning and a tight physical market are some of the reasons cited by the bank for...
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Wells Fargo to donate 1 billion toward affordable housing by 2025
By Imani Moise Reuters Wells Fargo NYSE WFC Co said on Wednesday it will narrow the focus of its philanthropy toward three causes including affordable housing and will donate 1 billion to housing over the next few years The San Francisco based bank named Brandee McHale to be the new head of the Wells Fargo ...
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World Trade Seen Having Worst Year Since 2009 as Spat Worsens
Bloomberg ING joined the ranks of banks warning about an escalating U S China standoff saying global trade is likely to suffer its worst year since the financial crisis The Dutch bank sees world trade growing just 0 2 this year under its central scenario that includes U S tariffs on all Chinese goods as well...
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Philippines Central Bank Governor Survives Rocky Start as Peso Rebounds
Bloomberg Philippine central bank Governor Benjamin Diokno survived a rocky market introduction but is in for some more tough times as analysts bet on a weaker peso amid rising headwinds for emerging markets After a surprise appointment almost three months ago Diokno s pro growth stance and perceived comfort wi...
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Mexico Peso Drops on Double Whammy From Ratings Trade Talks
Bloomberg The Mexican peso fell more than 1 as the currency reeled from a one two punch the first from ratings agencies and the second from inconclusive trade talks with the U S Moody s Investors Service came first cutting the country s outlook to negative from stable followed by Fitch which lowered the sove...
JPM
3 Strong Buy JP Morgan Mutual Funds For Great Returns
JPMorgan NYSE JPM is a well known financial management company in the world The company pioneered innovative inflation protected municipal products Its primary principle is to understand the needs of its clients and advice the best investment solutions for surplus returns It has a legacy of investment management s...
JPM
Best Stock Sector To Watch For In 2018
As 2018 begins investors try to decide what the best investments are to get into Last year it was marijuana stocks and technology companies Will 2018 repeat the same trend Probably not When the economy grows faster the chair of the Federal Reserve tends to raise interest rates Given how the GDP growth in the Unite...
JPM
Will Metal ETFs Continue To Fuel Commodities In 2018
After lagging in the first half of 2017 commodities staged a nice comeback in the second half amid continued bullishness in the stock market and an increased appetite for riskier assets In fact commodities ended 2017 on a high note registering the longest rally since 1991 with the Bloomberg Commodity Index which ...
JPM
Wisdomtree Launches Balanced Income ETF
Wisdomtree launched a new fund in late December focused on providing exposure to income generating equity and fixed income ETFs WisdomTree Balanced Income Fund seeks to track the yield and performance before fees and expenses of the WisdomTree Balanced Income Index The index is designed to provide exposure to glob...
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Britain s May to consult business leaders on Brexit
LONDON Reuters Britain s Prime Minister Theresa May will meet GlaxoSmithKline L GSK Vodafone L VOD and HSBC L HSBA and other major companies on Monday to hear what they want from talks on Britain s relationship with the EU after Brexit Businesses have become increasingly alarmed by the slow progress of nego...
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Top 5 Things to Know in the Market on Monday
Investing com Here are the top five things you need to know in financial markets on Monday October 9 1 Turkish Lira Stocks Plunge Amid Visa Stand Off with U S Investors dumped the Turkish lira while the country s main stock market fell the most in more than a year amid an escalating political standoff between ...
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UK PM May tells business chiefs two year Brexit transition is assured source
By Costas Pitas LONDON Reuters Prime Minister Theresa May told business leaders that they should treat a two year transition period after Brexit as assured as she tries to ease company concerns that Britain could crash out of the EU without a deal a source told Reuters May met business chiefs from GlaxoSmithKline...
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Pfizer mulling potential sale of consumer healthcare unit shares up 1 premarket
Citing its continuing efforts to allocate its resources and capital to best serve patients and shareholders Pfizer NYSE PFE is exploring strategic alternatives for its Consumer Healthcare business which generated 3 4B in sales in 2016 The unit boasts ten brands that produce greater than 100M in annual sales incl...
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Morgan Stanley downgrades Qualys
Morgan Stanley NYSE MS downgrades Qualys NASDAQ QLYS from Equal Weight to Overweight with a 51 price target Latest analyst ratings for Qualys 2 Buy 3 Outperform and 11 Hold Median price target 46 Qualys shares are down 1 22 premarket Now read
JPM
JPMorgan pushes Apptio to Underweight
JPMorgan NYSE JPM downgrades Apptio NASDAQ APTI from Neutral to Underweight with a 38 price target The firm cites the string of recent strong earnings reports from the software space and expects Apptio to underperform as a result Apptio s acquisition by Vista Equity Partners is pending Source StreetAccount Pr...
JPM
SAIC receives 900M Defense Agency contract
Science Applications International Corp NYSE SAIC receives a 900M firm fixed price requirements contract to remain the lead supply chain manager and integrator for a Defense Logistics Agency tire delivery program The five year base contract has two two year option periods plus four two month option periods With...
JPM
JPMorgan Private Bank expands operations in Benelux Nordic region
JPMorgan NYSE JPM Private Bank hires three bankers to expand its reach to ultra high net worth clients in Belgium the Netherlands Luxembourg and Nordic countries markets of growing importance to the firm David Agie de Selsaeten joins as managing director and senior banker in the Benelux countries from HSBC wher...
JPM
Trump says if no China trade deal possible I am a Tariff Man
By Doina Chiacu WASHINGTON Reuters U S President Donald Trump on Tuesday held out the possibility of an extension of the 90 day trade truce with China but warned he would revert to tariffs if the two sides could not resolve their differences Trump said his team of trade advisers led by China trade hawk U S Trade...
JPM
Australia s economy slows debt laden consumers a deadweight
By Wayne Cole and Swati Pandey SYDNEY Reuters Australia s economy slowed more than expected last quarter as consumers reacted to tepid wage growth by shutting their wallets a disappointing outcome that sent the local dollar sliding as investors pushed out the chance of any rate hike The news came as fears of a po...
JPM
British pound rises as chances for Brexit reversal rise
The British pounds strengthens against the U S dollar and the euro after a string of parliamentary defeats for UK Prime Minister Theresa May increases the chances that Brexit will eventually be called off The odds are still below 50 though JPMorgan NYSE JPM raised the probability of Britain ultimately staying in ...
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Oil Falls Below 50 For First Time Since 2009
On Monday the price of oil fell below 50 for the first time since April 2009 and the Dow dropped 331 points Meanwhile the stock market declines over in Europe were even larger on a percentage basis and the euro sank to a fresh nine year low on concerns that the anti austerity Syriza party will be victorious in th...
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IForex Daily January 06 2014
Equity markets worldwide tumbled on Monday led by commodity linked shares as Oil prices fell below 50 per barrel to 5 1 2 year lows The Euro stayed near 9 year low against the Dollar as a possible Greece exit persists and as a soft German inflation adds pressure on ECB to do more Investors fled to the safety of Go...
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Forecast 2015 Life In The Breakdown Lane
Note from Tim about a week ago everyone s favorite Sloper BDI encouraged me to read an entry on his blog which I did The article by James Howard Kunstler was so indecently rich I felt like a starving man who had just been handed five superbly crafted cheesecakes There is so much rich goodness in it it s almos...
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Head of Mexico s Central Bank Operations Is Leaving for BIS
Bloomberg Banco de Mexico s top markets official is leaving for the Bank for International Settlements after more than two decades at the central bank according to people familiar with the plans Jaime Cortina director general of operations and payment systems plans to leave in the coming weeks according to fi...
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Traders Worry as Hopeful Bank of Canada Officials Meet This Week
Bloomberg As the Bank of Canada meets this week amid trade war chaos a big unanswered question will loom over the gathering Who s right about the nation s economic prospects gloomy traders or optimistic policy makers Markets are worried that Canada is deeply exposed to the U S China trade spat The Canadian y...
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HSBC plans retail wealth headcount boost eyes Singapore expansion
By Sumeet Chatterjee HONG KONG Reuters HSBC Holdings LON HSBA PLC plans to boost its Asia retail wealth management staff by about 300 by end of this year with Europe s biggest lender by assets sharpening its focus on Singapore to add to its presence in core markets of Hong Kong and China London headquartered ...
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Citigroup May Be Poised to Win in 2020 Goldman Says in Upgrade
Bloomberg Citigroup Inc NYSE C can beat consensus expectations in 2020 regardless of higher interest rates or stronger global growth and is well positioned for potential supply chain shifts in Asia Goldman said in a note upgrading the stock to buy from neutral Analyst Richard Ramsden in a note sees a real...
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Fed unlikely to respond to bond market calls for rate cuts yet
By Karen Brettell Reuters The U S Treasury market has diverged from the Federal Reserve in painting a bleak picture of future U S economic growth and inflation but the central bank looks unlikely to bend to the market s will anytime soon barring a notable turn for the worse Concerns about the impact of the U S ...
JPM
Why Twitter s Jack Dorsey Is The Best CEO Of 2017
Step aside Mark Zuckerberg Jeff Bezos and Marc Benioff it is time to make room for another remarkable leader in the already packed club of great tech industry executives Indeed after the incredible 2017 that both yes both of his companies just had Jack Dorsey is officially a top tier CEO Not many internet entre...
JPM
Fiat Flameout Hi Ho Silver
While many gold market technicians have been neutral to slightly negative about gold in the short term I ve been extremely positive As of today I ve become outrageously more positive This is the spectacular daily gold chart I ll dare to suggest that gold investors have behaved very well this year As a result of ...
JPM
JPM Reaching Maximum Extension
JPMorgan Chase Co NYSE JPM has been climbing aggressively in the last six months Its sudden blast higher last month has been drifting sideways in that past few weeks producing a price pattern that is typical of a blow off top It s likely JPM will have to retest the 100 level about the time the lower red channel...
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China September data to show steady growth ahead of key Communist Party congress
By Yawen Chen and Ryan Woo BEIJING Reuters Chinese data in coming weeks is expected to deliver exactly what its leaders want to hear ahead of a highly sensitive Communist Party Congress the country s economic growth remains robust and resilient even as they work to get debt risks under control The twice a decade...
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Alibaba backed lender sets IPO terms
Alibaba backed NYSE BABA online lender Qudian Pending QD sets its IPO terms to 37 5M ADS offered between 19 and 22 each The IPO could raise up to 825M or up to 948 8M if underwriters exercise all additional share options Qudian plans to trade as QD on the NYSE and Morgan Stanle...
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Splunk creates new role for CRO
Splunk NASDAQ SPLK promotes Susan St Ledger to President of Worldwide Field Operations a newly created role St Ledger will also continue on as Splunk s CRO Previously Morgan Stanley NYSE MS downgrades Splunk Oct 2 Now read
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New York area hedge fund manager charged with Ponzi fraud
By Jonathan Stempel NEW YORK Reuters A suburban New York hedge fund manager accused of losing or spending all but about 27 000 of the 21 8 million he told investors he had was criminally charged on Thursday with running a Ponzi scheme Prosecutors said Michael Scronic who once worked at Morgan Stanley N MS ...
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British PM May says to meet business leaders on Monday in Downing Street
LONDON Reuters British Prime Minister Theresa May will meet business leaders next week to discuss Britain s departure from the European Union her office said on Friday after a former party chairman said there was a plot to topple her A quarterly meeting with businesses including HSBC L HSBA Morgan Stanley ...
JPM
Xi s Not for Turning Don t Be So Sure
Bloomberg Opinion As president for life Xi Jinping is neither bound by rules nor limited by rivals He has upended a careful political balance by concentrating power in his own hands and overturned a cautious approach to foreign policy while throwing in jail anyone he views as a threat China s most dominant le...
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Xinyuan Real Estate 3Q Results Not Good News But
Introduction Xinyuan Xinyuan Real Estate Co Ltd NYSE XIN announced its third quarter results last week and they were not good Following the announcement continue to support the company while do not To get a balanced and current view of the company I read with care the earnings call transcript of its as well ...
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Will Falling Income Inequality Lead To A Bear Market
Gavyn Davies wrote a fascinating article this weekend about the long term outlook for stock prices In essence he attributes much of the current secular bull run to rising inequality in the developed economies has shown that a rising wealth income trend is not a natural state of affairs in the very long run He a...
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2 Contrarian Plays That Will Make You Queasy
In a recent post I wrote that being a contrarian investor can be a lonely task and can involve considerable career risk see Do you have what it takes to be a contrarian investor The point being that contrarian investments are non consensus investments that make you queasy With that in mind here are a couple of c...
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Central Bank Policy When Abnormal Is Normal
Consider the chart below It illustrates cumulative growth for the G7 nations Canada France Germany Italy Japan the United Kingdom and the United States for the five years before and after the 2007 2008 financial crisis One can see that Italy is the only G7 economy that has contracted over the past five years ...
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Gold Prices set to climb in the New Year
After climbing the most in a week as a retreat in the dollar and S P 500 revived demand for the yellow metal the spot price of Gold has weakened marginally this week The price of gold jumped more than 1 on Monday on a brief surge of late day technical buying as it breached the 1 200 per ounce level Interestingly ...
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3 Downstream Energy Companies Doing Just Fine
For over six months now investors have been dealing with plummeting crude prices The question in everyone s mind is whether this is the right time to pour money into the industry After all most oil weighted players are touching 52 week lows due to collapsing commodity prices However there is a ray of hope even ...