Did the unexpected again occur Friday? Commenting first about OPEC, OPEC did not decrease production but rather increased the production target to 31.5 million barrels from 30 million barrels a day....
Always expect the unexpected. Yesterday the dollar tumbled even after FRB Chair Yellen strongly inferred a rate hike is all but assured in 2 weeks. Oil gained ahead of an OPEC meeting where most believe a production cut will not occur. German bond yields rose...
Yesterday I spent considerable time driving, passing the hours flipping between CNBC and Bloomberg. Perhaps 99.8% of all “reports” were focused upon oil and the economy, universally declaring oil will stay low forever and the economy will be stuck where it has been for the...
The next four days can be pivotal in determining the direction of the markets for the immediate future. What are the odds of a surprise in November’s jobs data? September was surprisingly weak. October’s report was surprisingly strong. Each report altered the perception as to...
2015 is quickly coming to an end. For many the past year is one most will want to forget. In many regards, nothing made sense as the markets were entirely dominated by high frequency trading and ETFs. Quoting a SEC Commissioner, HFT has created an...
Last week was one of the strongest weeks of the year, the reason—a potential change in monetary policy that is perhaps suggesting the economy is approaching escape momentum. The week before—the S & P had one of the worst weeks of the year, the reason—a...
Markets, led by energy and defense, staged a strong advance following the Paris bombings. Some were expecting considerable selling, the result of the proverbial fear trade...
I write my comments the night before thus suggesting today’s remarks may be meaningless given the events that occurred Friday evening. Has the world forever changed? Did the European progressive movement end dramatically? How will Pairs affect the US presidential election and proposed economic policies?...
It was an ugly day yesterday as the markets reminded me of September’s swoon, trading dominated by HFT. Markets are searching for direction, especially relating to monetary policy. The ECB raised the specter of additional QE while it is almost a forgone conclusion of an...
I think it is safe to write there is a stark difference between the Republican and Democratic candidates for President. Are the Democrats doubling down on a losing strategy given the massive losses the party has suffered since 2008?...