Japan fell back into recession again in Q3, expected this time, which is actually being charitable to Abenomics and especially QQE. To even believe that this monetary insanity has produced even marginal benefits, it has to be given “credit” of at least mini-recoveries in between these “technical recessions.” It is a problem far worse than that, as even a technical [...]
To say that the “dollar” is a mess to begin the week is to state the obvious. The condition left at Friday’s close has persisted, with commodities and such being sold heavily from the outset. Japan’s renewed “recession” (I use quotes only in the conventional sense, given that the Japanese economy never truly left) hasn’t helped in that regard, but [...]
Stocks resumed their developing downtrend last week with the S&P 500 falling a bit over 3.5%. That wasn’t bad compared to emerging market equities, down nearly 5% on the week or the darling NASDAQ stocks, down over 4%. Bonds finally found a bid as the economic data was nearly uniformly miserable, culminating with a less than expected retail sales report [...]
An up market would seem frustrate the most participants. Click here to sign up for our free weekly e-newsletter. For information on Alhambra Investment Partners' money management services and global portfolio approach, Douglas R. Terry, CFA is reachable at: dterry@alhambrapartners.com This material has been distributed for informational purposes only. It is the opinion of the author and should not be [...]
Top News Headlines 129 Dead, Over 500 injured in Paris Attacks Retail stocks bludgeoned after earnings reports Republicans and Democrats Debate, America Appalled At Choices Stocks fall, bonds rally, oil craters Selfish brats protest adulthood, demand to be coddled in University demonstrations Economic News Neil Kashkar named head of Minneapolis Fed Eurozone growth slows, industrial output down again, exports weaken [...]
After trading within a range of 150 or so points during 2015, the S&P 500 Index (IVV) fell off a cliff in late summer, decisively breaking both moving averages but holding support at the 1870 level. Within the last month and a half though, it has rebounded remarkably, getting close to new all-time highs. Those gains are once again at risk [...]
When addressing the inability of monetary policy to actually produce its “inflation” target, the FOMC has been left to hiding. They fully and openly admit the role of oil prices in the depression of calculated inflation starting late 2014 because they reason that it somehow doesn’t apply strictly within their mandate (as if it was specifically written for monetary policy [...]
The duality of gold in the modern wholesale fabric has perhaps been on display this year more so than at any time since 2008. That year, the year of the eurodollar-drawn panic, gold was seemingly more volatile than any other asset – if only for its virtuous tendency to as sharply rebound for every major crash. And in 2008 there [...]
The risk budget this month is unchanged. For the moderate risk investor, the allocation between risk assets and bonds remains at a defensive 40/60 versus the benchmark of 60/40. Credit spreads narrowed on the month but the widening trend is intact and has recently resumed. Valuations are still excessive and 3rd quarter earnings have been generally downbeat. A divergence is [...]
Crude oil prices are being slammed again today, as the “dollar” continues to reek about the places where economy and finance come together. Crude oil is perhaps the most visible extension of that process, where finance helps figure out direction of prices that will eventually be necessary to physically clear (even and especially to storage) actual product. Given the position [...]
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