EUR/USD made a big break and is already eyeing 1.16. Has it gone too far? Here is the view from Danske: Here is their view, courtesy of eFXnews: Danske Bank FX Strategy Research notes that EUR/USD has entered into an overbought territory after breaking above 1.15 overnight, driven by general USD weakness after Republican Senate majority leader Mitch McConnell announced that the US healthcare reform is effectively dead in its current form. Positioning, technical (RSI) and short-term valuation indicate rising headwinds for EUR/USD near term. “1- Non-commercial EUR/USD positioning is approaching stretched long territory, according to IMM dat...
Podcast: Play in new window | Play in new window (Duration: 13:15 — 7.6MB) DOW – 54 = 21,574 SPX + 1 = 2460 (record) NAS + 29 = 6344 (record) RUT – 3 = 1427 10 Y – .05 = 2.26% OIL + .30 = 46.32 GOLD + 8.30 = 1243.00 BITCOIN + 0.45% = 2338.41 USD ETHEREUM – 9.33% = 225.56 The S&P 500 and the Nasdaq closed at records. Last night, two Republican senators, Mike Lee of Utah and Jerry Moran of Kansas, issued statements declaring that they would not vote for the revamped BCRA health care bill. The two senators timed the release of their statements and made clear that modest tinkering around the edges of the legislation drafted ...
DM central bankers are looking for inflation. But no matter how hard they try, they can’t find any. And that right there is throwing a monkey wrench in the whole “it’s time to roll back crisis-era policies” narrative. Of course we all know that’s absurd. There’s plenty of inflation and indeed it’s showing up in all the places you’d expect it to show up given how policymakers have gone about reflating the global economy. Indeed, they’re starting to realize what they’ve done, which is why every DM central banker you care to listen to was, until last week anyway, ready to “look through” purportedly “transitory” weakne...
Asian equity markets are higher today as Chinese and Hong Kong shares show gains. The Shanghai Composite is up 0.83% while the Hang Seng is up 0.29%. The Nikkei 225 is trading up by 0.11%. The US markets ended on a high note with the Nasdaq Composite hitting a record high on Tuesday while Goldman Sachs Group dragged the Dow lower on lower earnings. Back home, share markets in India have opened the day on a positive note. The BSE Sensex is trading higher by 126 points while the NSE Nifty is trading higher by 43 points. The BSE Mid Cap Index and BSE Small Cap index opened the day up by 0.4% & 0.5% respectively. All sector...
In their 2Q 2017 survey, UBS found that, for the first time since at least 2014, the trajectory of financial health of low-income households has started to diverge from that of more affluent households. Per the graph below from UBS’ credit strategy team led by Matthew Mish, while a firming job market has helped households making over $100,000 feel more confident about covering their monthly expenses, spiraling debt balances has left low-income families even more vulnerable to the slightest monthly surprises with 70% reporting that their income just barely covers monthly expenses. Overall US consumers report a lower likelihood of defa...
Shares of Chipotle (CMG – Free Report) plummeted 6.82% through early afternoon trading on Tuesday amid news that a Washington, D.C. area location closed this morning after some customers reported norovirus-like symptoms. Business Insider first reported that the fast-casual Mexican grill closed a Sterling, Virginia location after customers reported symptoms such as vomiting, diarrhea, dehydration, and nausea. The roughly dozen affected Chipotle customers posted their symptoms on iwaspoisoned.com after eating at the restaurant on Friday or Saturday. Chipotle officials said they were already aware of the small number of illnesses. The c...
Medtronic (MDT) is one of the largest medical device makers in the world and, with 39 consecutive years of dividend growth, one of the venerable dividend aristocrats here. Even more impressive? Over the last 39 years, Medtronic has rewarded income investors with 18% annual dividend growth, making it not only highly reliable, but also one of the fastest payout growers on Wall Street. Let’s take a look at what makes this medical blue chip stock so special and see if it’s likely to continue increasing its dividends at a double-digit clip over the coming years. While Medtronic may not sport the yields offered by some of the best high divid...
When it comes to the VIX, it is (almost) safe to say that virtually everything that could be said about the market’s record low volatility, its causes, and where it may or may not go from here, has been said. For those blissfully unaware of the market’s mind-numbing complacency and boredom, last week the VIX declined 1.68 points during the week of Yellen’s unexpected dovish turn, and settled at 9.51, the lowest closing level since December 23, 1993 (and third lowest close of all time), while the ratio of VVIX to VIX increased once again to near its 2-year highs. Additionally, 1m and 1y SPX ATM implied vol fell to 7.1% and 13...