In a move few had expected, Sweden yesterday quietly fired another salvo into the escalating currency war by joining Denmark, Switzerland and the ECB in introducing negative interest rates....
I am very hesitant to comment there is little to write about yesterday’s market action for every time I pen such remarks, a dramatic event occurs....
About fifteen years ago the common mantra on Wall Street was that the business cycle is dead partially predicated by the mutlipolarity and interconnecting business relationships. Why would ABC go to war against XYZ for ABC owns businesses/lent money to XYZ. Economic interests would reign...
Reflecting upon the past several days, one would think equities would be down a gazillion points. To recap, little was accomplished regarding the Ukraine. Jordon, perhaps one of the weakest Middle East countries is aggressively pursuing ISIS. Greek is thumbing its nose at the ECB...
In my view January’s labor report was strong in many dimensions. Non-farm payrolls rose by greater amount in January than expected. More importantly the December’s and November’s were revised higher. The unemployment rate did rise to 5.7% from 5.6% but this was the result of...
Equities were strong because of oil. What? Did I not write yesterday equities closed quietly lower because of a sharp decline in oil? The volatility in oil is incredible. Is this the result of even greater geopolitical tensions in both Russia and the Middle East?...
Oil was crushed about 8.5% yesterday following a rise in inventories. As noted oil just had its biggest gain in six years, gaining 19.5% in four days for a myriad of reasons including a vastly oversold market, lower rig count and statements from OPEC suggesting...
I think the world is evolving into a state of anarchy, the direct result of the Administration abandoning the 70 year unspoken role of global policemen for political expediency....
For the first time in many weeks, I can write there was little to discuss about yesterday’s trading....
Friday the Greece finance minister stated it will not seek an extension of its bailout agreement declaring “we don’t plan to cooperate with that [Troika of the official creditors] committee.” If neither the ECB nor Greek blinks as the ECB has adamantly stated Greece is...