Twin Engines Giving Stock Market Some Lift
The stock market staged a rebound rally on Friday, which apparently isn’t done yet. That rally is set to resume at today’s opening bell, as clearly indicated by the futures market. Currently, the S&P futures are up 30 points and are trading 1.1% above fair value. The Nasdaq 100 futures are up 102 points and are trading 1.3% above fair value. The Dow Jones Industrial Average futures are up 279 points and are trading 1.2% above fair value.
August 19, 2019
Technical Analysis (Gold, Dollar, Oil and more) Heading into Monday’s Open: August 19, 2019
Considerations of Cash
Huawei Still Under The Microscope
What Extreme Monetary Policy Means for Gold (w/ Greg Weldon)
US Market Volatility and Sleepless Summertime Nights
The summer of 2019 has given equity investors a lot of things to worry about. Yet, Franklin Equity Group’s Grant Bowers says the health of the US equity bull market shouldn’t be one of them—at least not now. He discusses the biggest growth driver for both the US and global economy and explains why he likes the long-term prospects for select companies in the health care and technology sectors.
Exploring Falling ETF Costs (Hint: Not Just Expense Ratios)
Recession, Really? Not Based on Today’s Economic Data
UPS Packages ‘A’-Rated Bond As U.S. Corporates Deliver Yield
It’s a Small, Small World
Global equity markets have been experiencing heightened volatility over the last few weeks. In my opinion, there are quite a few intertwined issues at work here. First, China’s economy has a large export component, accounting for nearly 50% of all GDP. China has made the domestic economy a focus, to reduce its dependence on exports over the last decade.
August 13, 2019
Technical Analysis (Gold, Dollar, Oil and more) Heading into Tuesday’s Open: August 13, 2019
U.S. Muni Market (Aug 12-16): Chesapeake Bay Bridge & Tunnel to Sell New ‘BBB’ BANs as Investors Dig for Yield
Weekly Market Recap: August 12, 2019
Growth Concerns Linger After Turbulent Week
The S&P 500 futures trade 12 points, or 0.4%, below fair value following a turbulent week on Wall Street, while investors continue to assess U.S.-China trade relations and the Hong Kong government protests.The Hong Kong protests have yet to materially affect U.S. equity markets but given the limited scope of corporate and economic news today.
It’s an All-Out Currency War! What Are Your Next Moves?
Europe: The Week Ahead (Aug 12-16), German Yields
Corporates Seek Tools To Reduce Pension Plan Risk
Global market volatility and low interest rates have greatly impacted the funded status of corporate defined benefit plans over the past decade. Particularly in the last year, wide swings in equity markets have become less predictable, making funded status volatility a greater cause for concern. As such, many plan sponsors are seeking solutions that hedge against risk and volatility while protecting any improvements in funded status.
Fed Rate Cut Spurs EMs Into Action
Like Brazil last week, India’s central bank surprised markets with a larger-than-expected cut, easing by 35 bps to take the policy rate to 5.4%. The accompanying statement was also rather dovish in tone and suggested more cuts to come. This month’s rate cut had been flagged at the previous meeting, the new governor’s first, which also delivered a rate cut.
Volatility 411: Bonds and Precious Metals
Stocks Offer Bond Investors an Opening
Trade Tension Flare‑Up: Not So Surprising
Any hope for a quiet August in Washington was dashed when President Donald Trump took to Twitter last week announcing he would move forward with imposing 10% tariffs on about $300 billion of Chinese goods on 1 September. This threat comes in addition to the 25% tariffs already imposed on $250 billion of Chinese imports to the U.S.
Morning Express: August 7, 2019
Equity markets are off their best levels of the session and U.S Treasury yields are in the spotlight. Recession fears are being echoed loud and clear after three central banks (from New Zealand, India and Thailand) cut rates and German Industrial Production fell sharply. There is no major U.S data on today’s economic calendar but Chicago Fed President Evans speaks at 11:00 am CT and there is a 10-year Note auction at noon CT.
August 7, 2019
Technical Analysis (Gold, Dollar, Oil and more) Heading into Wednesday’s Open: August 7, 2019
Futures Fall Alongside Treasury Yields
U.S. equity futures have reversed course from earlier gains and now trade noticeably lower amid some startling signals in the U.S. Treasury market following more central bank easing. The S&P 500 futures are down 35 points and trade 1.2% below fair value.Three more central banks around the world cut their interest rates overnight as forecasts on the economic outlook diminish.
Early Look: Tuesday, August 6, 2019
Stocks in the U.S. are pointing to a solid rebound, looking to snap the week-long losing streak for the S&P 500 index, as China took steps to limit the yuan’s decline, putting a stop to the global selloff. Asian stock markets opened sharply lower on Tuesday and the offshore renminbi hit a new trough in early trading after the Trump administration labelled China a currency manipulator.