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The last time the S&P 500 “suffered” a Golden Cross (50-day moving average crossing bullishly above the 200-day moving average), it marked the top in December which was rapidly followed by a decline only coordinated global central manipulation could save. This time it is also being met with weakness as The Dow loses the key […]

The cracks are starting to show in the housing ‘recovery’. With Starts and Permits already rolling over, New Home Sales printed a disappointing 511k (vs 520k expectations), dropping 1.5% MoM. This is the 3rd monthly decline in a row – the longest such streak since July 2011. While positive for affordability, the decline MoM and […]

The gold bullion or “hidden gold mine” of various nation’s gold reserves stored in the vaults beneath the Bank of England have been covered by the BBC: Under London’s streets lies a hidden gold mine. It stretches across more than 300,000 square feet under the City, the finance quarter in the heart of Britain’s capital. There, […]Read More

Upon hearing the rather surprising news that prominent republican billionaire Charles Koch could possibly support Hillary Clinton in a presidential election, Clinton took to twitter to offer her response. Not interested in endorsements from people who deny climate science and try to make it harder for people to vote. https://t.co/TWN4zYhMBh — Hillary Clinton (@HillaryClinton) April […]

The latest shocking example of just how intertwined central banks have become in not only Treasury and corporate bond markets and their respective “valuations”, but also in stocks, comes courtesy of the Bank of Japan which days ahead of an announcement which may see it double its ETF purchases from the current JPY3.3 trillion to […]

Following the death of Philly Fed’s dead-cat-bounce, Dallas Fed did the same with a disappointing thud back to -13.9 (missing expectations of a rise to -10.0). This is the 16th consecutive month in contraction (below 0) and respondents are increasingly depressed, “it is a bad time for manufacturing, agriculture and mining – the only sectors […]Read More

Well that escalated quickly. While Nasdaq had already given up its gains, this morning’s economic weakness, Yen strength, and unimpressed oil market has driven the S&P and Dow back into the red from pre-Doha levels… Average: Your rating: None Average: 5 (1 vote)

WTI Crude tumbled back off algo-stop-run highs this morning after Genscape reported a 1.5 million barrel inventory build at Cushing (considerably more than the 1.2mm build expected). That would be the biggest inventory build since mid-December and follows 4 of the last 5 weeks with draws… And price is falling.. Average: Your rating: None Average: […]

One of the recurring themes as we cross Q1 earnings season, is that virtually every sellside strategist has been repeating ad nauseam how as a result of the shaprly lowered earnings expectations… … companies will have no problems beating consensus estimates. And then we got something like last week’s week’s barrage of tech company misses. […]Read More

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U.S. President Barack Obama speaks during a meeting with members of his national security team and cybersecurity advisors on new actions to enhance the nation’s cybersecurity, including measures that are outlined in the President’s FY2017 Budget proposal at the White House in Washington February 9, 2016. REUTERS/Kevin Lamarque The United States Consulate General in Lagos […]Read More

With the economy gasping for breath almost a year after Mr. Muhammadu Buhari was sworn into office in May last year, and with voices rising that he is failing or has partially failed, the Presidency said in a statement on Sunday that President Buhari should not be crucified for the squalor in the land, but […]