Wow! Always expect the unexpected. Most, including me did not think Brexit would occur. I thought fear of the unknown would keep England in the EU even though I quietly agreed with the “leave camp.” I did write several times that if “leave” won, the...
Equities slipped and Treasuries nominally rose ahead of today’s Brexit vote. Oil was down as inventories did not decline as much as anticipated. The bio tech index rose by 0.7% and is now flat this week after a nine day losing streak through June 17,...
FRB Chair Yellen’s semiannual congressional testimony was a nonevent, offering a subtle change to her outlook from less than a week ago, pushing the prospect of additional interest rate increases further into the future. Yellen stated the central bank were on watch for whether, rather...
Stocks rallied, bonds and gold fell and the British pound strengthened the most since 2008 as signs the campaigning for the UK to stay in the EU was gaining momentum. In some regards it was a rewind of the minor panic experienced last week....
This week the markets may be myopically blinded by Thursday’s Brexit vote. As noted several times I rhetorically think Britain will remain in the EU for the simplistic reason change will create an unquantified environment. Human nature dictates one fears more of what they don’t...
Fewer Federal Reserve officials expect the central bank to raise interest rates more than once this year, as policy makes gave a mixed picture of the economy where growth is picking up and job gains are slowing. While the median forecast of 17 policy makers...
May’s jobs data is released at 8:30. Analysts are expecting a 4.9% unemployment rate, a 160k and 150k increase in nonfarm and private sector payrolls, respectively, a 0.2% increase in average hourly earnings, a 34.5 hour work week and a 62.8% labor participation rate....
In my view the Beige Book offered little surprise. The statistical compilation utilized at the upcoming Fed meeting stated the economy expanded at a modest pace across most the country since mid-April causing the labor market to tighten as employers continued adding jobs and nudging...
OPEC meets June 2 following the longest run of monthly gains in five years that boosted prices by 85% in four months to over $50 barrel. The potential outcome from this meeting is varied with some suggesting an unexpected cut to an increase in production...
FRB Chair Yellen spoke Friday. In my view little new ground was broken however as written previously any Fed address can be of significance given their potential influence upon the financial markets....