Last week was one of significance given the action by the ECB. Tomorrow is the commencement of the two day FOMC meeting where many are expecting the US central bank to offer more guidance regarding the time table of a change in US monetary policy. ...
Equities fell again yesterday as December’s retail sales disappointed, casting doubt on the thesis plunging gas prices will boost spending. Some have argued the disappointment is the result of rising health care premiums, low labor participation rates, and increasing rent amplified by lack of wage...
The Minutes from the December FOMC meeting were a nonevent. The Minutes stated the risks from overseas, which include the plunge in oil prices, are largely offset by domestic strength. Inflationary concerns remain low and the timing of any change in interest rates remains around...
In many ways the first “real” trading day of 2015 was a continuation of the themes that were present during last day of 2014…oil falling with no end in sight and energy shares following the drop in crude....
Today’s comments are perhaps my least favorite ones to write for they are my outlook for the following year. Many times I have opined it is not what one does but rather why one does it. What do we think may happen and how we...
The unexpected strength of third quarter GDP growth, which was revised up to 3.9% annualized rate from 3.5%, is further evidence the economy is on the verge of finally reaching escape momentum. Consensus had expected a nominal downward revision to 3.3%. The past six months...
Today third quarter GDP is revised. Consensus is now expecting third quarter growth to be 3.3% versus the previously reported 3.5% rate. Is this of any significance?...
Stocks were relatively quiet as declines in small-cap and energy shares offset stronger than expected earnings. Oil fell to the lowest level in four years on signs that OPEC will not cut production....
How will the economy respond to falling oil prices? As noted several times the $30 decline in crude has shifted about 1.5% of global GDP from oil producers to oil consumers. Approximately 70% of the US economy is consumer driven thus it can be concluded...
Japan shocked the investing world that it is stepping up its asset purchases and is a timely reminder not everyone has to follow the Fed. The BOJ stated it will increase the annual purchase of Japanese bonds from 50 trillion yen to 80 trillion yen...