“The Canadian dollar’s link with crude has been falling sharply since the end of June, spurred by the central bank raising interest rates for the first time since 2010. The currency’s 90-day correlation with WTI crude is now at the lowest level in almost three years.” (Bloomberg News, October 24, 2017.) World oil prices have…
Randal K. Quarles, a Trump administration appointee to the Federal Reserve Board of Governors and Vice Chair for bank supervision, has given a lengthy speech (“Thoughts on Prudent Innovation in the Payment System”) that directly targets Bitcoin as a danger to the monetary and financial system. To reiterate, an official speaking for the nation’s central bank that…
Well, the first day of trading for December turned out to be anything but boring. The morning’s explosive political news sent the SPX down 400 points, and for 30 minutes, the markets saw nothing but sell orders. Over at the NYSE, the ticker kept pounding at -1000 readings minute after minute as the support for the…
Each month I will publish my dividend income. I will mainly do this for staying self motivated and to give you the readers the chance to follow my journey from the beginning on. The dividend income in the first couple of years will be on a very low level but investing in dividend stocks is…
NZD/JPY Daily Chart Technical Outlook: NZD/JPY has been trading within the confines a well-defined descending pitchfork formation extending off the yearly highs with prices trading into the 77.38/66 resistance zone today before turning lower. Notice the similarities in the previous failure patterns into this upper parallel – heading into the open in December, we’re looking for an exhaustion…
Stocks are rocketing to new highs almost every day. Jeff Bezos of Amazon.com (AMZN) saw his net worth exceed $100 billion. Bonds are still strong (and interest rates low). Real estate pricing is robust. DaVinci painting sells for $450 million. Bitcoin – having no intrinsic value other than a frenzy of speculative demand – trades…
Citigroup blames Japanese banks for the flat yield curve. The BIS notes a conundrum. Neither explanation is correct. A Citigroup analyst says don’t worry about the flat yield curve. Instead, Blame Japanese Banks. “We believe that the latest leg of curve flattening has been, to a large extent, driven by front-end selling from Japanese banks and…
One of the most compelling and engaging presenters at the Precious Metals Summit in London last month was Ronald-Peter Stöferle, a managing partner at Liechtenstein-based asset management company Incrementum. Incrementum, as you may know, is responsible for publishing the annually-updated, widely-read “In Gold We Trust” report, which I’ve cited a number of times before. During his presentation,…
Boy, oh boy: it certainly looks like the “rotation” trade is in full swing on Monday. Last week, as the odds of the GOP tax bill ultimately becoming law increased, more than a few analysts and commentators renewed calls for a rotation out of 2017’s best performers and into the sectors and names that have…
