Equities sputtered as some of the central bank euphoria waned. Oil fell about 3.5% after advancing earlier by almost 3% on confirmed reports by both The Financial Times and Reuters that Saudi Arabia agreed to cut daily production by 1 million barrels to around 9.5...
Equities rose again on the belief that the era of cheap money is not over. The dollar fell and oil rallied. The Fed is now off center stage and next week’s OPEC meeting and the upcoming earnings season and employment report will become the focus....
As expected a divided Federal Reserve left its policy rate unchanged for a sixth straight meeting, saying it would wait for more evidence of progress toward it goals, while projecting that increase is still likely by year end....
I am certain the mania surrounding this week’s Fed meeting will rise to a cascading crescendo. Even though I do not believe in this next comment, to write about anything else would be essentially meaningless. I again ask if a 0.25% increase makes a project...
Wow! Depending upon the oil inventory survey, inventories last week declined between14.5 and 12 million barrels versus an expected increase of between 905,000 and 225,000 barrels, respectively. This was the largest drawdown in either 17 or 30 years respectively and was the greatest “miss” in...
Treasuries climbed and the dollar slumped after data showing anemic expansion of the service sector bolstered speculation the Federal Reserve will not increase interest rates later in the month. Fed Funds futures are now suggesting a 24% chance, down from over 55% last week....
Many have argues August’s job report would have an unusually large influence on the Federal Reserve. In my view Friday’s release did not disappoint and is certain to fuel a heated discussion both within and outside the Fed....
The BLS employment report is released today at 8:30. As noted many times, may bulge bracket firms are almost equivocally stating that volatility will increase and the averages may decline anywhere from 5% to 20%....
Welcome to September and historically the weakest month for equities. I will skip the reasons but will instead concentrate upon today’s prevailing narrative....
It appears every bulge bracket firm is forecasting considerable volatility in the coming weeks. Is this the result of the lack of volatility of the last sixty days, the least volatile times in about 20 years according to some statistics?...