Friday, February 7, 2014

Watching the 'China taper'

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Chicago Tribune : - "Emerging markets should be much more concerned about the 'China taper' than the Fed taper " -  Cro...
Thursday, February 6, 2014

What's behind the latest natural gas rally?

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After years of oversupply driven weakness, US natural gas prices are finally rebounding. March Nat Gas Futures (source: Barchart.com) ...
Wednesday, February 5, 2014

Private construction payrolls continue to show resilience

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There wasn't anything particularly special about today's ADP private payrolls number. The company estimates that about 175,000 pri...

Did FRFA crowd out EU banks?

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Based on the latest report from Fitch, US money market funds' exposure to European banks - dollar denominated commercial paper and re...
Tuesday, February 4, 2014

ECB's next steps could involve suspending SMP sterilization - instant QE

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Today Credit Suisse confirmed our earlier assessment that the ECB will be shifting toward a looser monetary stance in the near future ( se...

Market correlations shift back to risk-on/off pattern

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The chart below compares the performance of long-term treasuries (TLO) to emerging market bonds (EMB) over the past year. Source: Ycha...
Monday, February 3, 2014

An overreaction to the ISM manufacturing report?

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Today's ISM manufacturing PMI number spooked jittery US equity investors, sending stocks sharply lower (with VIX climbing above 20). T...
Saturday, February 1, 2014

Latest developments in Venezuela - a crisis in the making

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As a followup to our recent discussion on Venezuela, here are the latest developments: 1. The government has since created two exchange...