Noted for your weekend ruminations or procrastinations – take your pick. These are various news items that I have read during the past day and early morning trying to understand and digest week’s events. I make notes as I read the articles. Some are trading related, some are economics related and others are just for intellectual stimulation…
Friday Night Music Justin Hayword and the Moody Blues with The Colorado Symphony Orchestra from the Red Rocks Amphitheatre in Colorado, 9/9/92. The mist is lifting slowly I can see the way ahead And I’ve left behind the empty streets That once inspired my life And the strength of the emotion Is like thunder in the…
No Inflation In Sight In Japan Japanese Household Spending y/y data did not show any indication of impending inflation, which is coveted by the Bank of Japan to restart its moribund economy. It came at -3.4% below the forecast of -2.3%. Tokyo Core CPI y/y for January was 2.2%. The National Core CPI y/y for…
Down and The Up Swing Who would have dreamt today’s great rally in Dow Jones Industrial Averages after yesterday’s over 200-point drop from the pre-FOMC levels to close. But that is what happened. At one point Dow was more than hundred-and-forty points in the red from previous close and then it staged a 277-point rally before closing out at…
Noted for your morning ruminations or procrastinations – take your pick. These are various news items that I have read during the day and early morning in preparation for the trading day. I make notes as I read the articles. Some are trading related, some are economics related and others are just for intellectual stimulation. The Germans Are…
Eddy Elfenbein at Crossing Wall Street has a nice post about what the futures market expect (Fed rate hike) and when does it expect it?. Basically Elfenbein is commenting on Bespoke Investment Group’s post, “Countdown to Liftoff“. First let’s take the original post. Bespoke is using the market data and expert opinions about Fed to estimate the months left for…
Noted for your morning ruminations or procrastination – take your pick Finding a Tax Cut at the Pump – I would call lower oil prices “good deflation”—they’ll help reduce the costs of things that consumers are somewhat locked into paying for, like the gas for their cars or the heat in their homes. But technology,…
So far the week has stuck to the 2015 theme of volatility. One day up, next day down and then first-up-&-then-down day – up & down moves compacted in a six-and-half hour session. Let’s assess this week’s market action so far. The week started with much anticipated change of guard in Greece from the EU establishment-backed politicians…
Noted for your morning ruminations or procrastination – take your pick. The “Efficiency” of the Market Doesn’t Matter to Smart Investors The EMH is essentially a political construct that argues that discretionary intervention is useless because “the market” is smarter than everyone else. It is a political argument against discretionary intervention that was constructed to…
Noted for your morning ruminations or procrastination – take your pick. Grexit: it is not the debt, it is the future. The reality is that so far EMU has been built in an asymmetric way: the ECB was designed as a strong anti-inflation central bank with the Bundesbank in mind and that served a purpose…
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