US and European stock rallied amid optimism Greece will reach a deal with creditors, an advance led by energy, financials and technologies. Oil rallied as inventories fell by an amount greater than expected, the sixth weekly decline and the longest series of declines since August....
Last week has come and gone. Greece surprised all requesting a delay for Friday’s payment and instead desiring to pay all amounts required this month in one lump payment on June 30. As widely expected OPEC did not cut production and there was little public...
Yields on the US Treasury spiked to seven month highs early yesterday, the result of the absolute drubbing of European debt. Treasuries rallied later in the day to post modest gains following IMF comments that the US should not increase rates until 2016....
Treasuries continued their selloff as a rout in global bonds resumed following a comment from the ECB of higher inflation for the region. Oil fell even as oil inventories dropped by an amount greater than expected and are now down for five consecutive weeks, the...
Monday I wrote this could be a pivotal week. Friday there are three major events that could influence the direction of the markets....
Markets ended quietly but moderately lower on Friday. First quarter GDP was revised to -0.7% versus the previous estimate of 0.2%. Analysts had thought growth would be revised to -0.9%....
I have commented many times the markets have been co-opted by technology. An inordinate amount of market volatility is the result of indexing and ETFs, a view that is also partially shared by Fed Reserve Chairwoman Yellen....
Equities came under considerable pressure yesterday albeit the volume was not heavy. It felt as the decline was the result of a lack of bidders versus heavy selling pressure. The catalyst for the moderate sell off…interest rate jitters and stronger dollar that hit the multinationals...
In my view the much awaited speech by FRB Chair Yellen was a non-event. As I had commented to some, would Yellen make any comments that were un expected given her speech was one hour before the bond market closes for a long holiday weekend...
Oil rose over 3.0% yesterday as the markets digested the news of a larger than expected oil inventory draw down and stronger than expected Chinese growth....