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March 31, 2016
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Charts of the Week Topics Covered This Week Include: Yellen Speaks Dovishly Yellen Speaks Dovishly – 2 The Boldest Earnings Call Ever? Weak Profits Real Estate In The U.S. Real Estate In The U.S. – 2 Credit Market Debt In The U.S. Credit Market Debt In The U.S. – 2 Household Net Worth Now At… Continue reading Charts of the Week
The Wall Street Journal – Janet Yellen Says Global Uncertainty Justifies Slower Path of Rate Increases Global economic and financial uncertainty poses risks to the U.S. economy and justifies a slower path of interest-rate increases, Federal Reserve Chairwoman Janet Yellen said in remarks that suggested little appetite to raise rates when officials meet next month.… Continue reading Yellen Speaks Dovishly
<Click on chart for larger image> Bloomberg.com – Dovish Yellen Primes Treasuries for Best Quarter Since 2012 U.S. Treasuries are poised for their best quarter in almost four years as bond traders push back bets on when the Federal Reserve will raise interest rates. Fed Chair Janet Yellen’s warning Tuesday about global economic risks cut… Continue reading Treasuries Off To Fast Start In 2016
<Click on graphic for larger image> Arbor Research – Supply Driven Rebound in Crude Oil The sharp rally in crude oil after global risks peaked on February 11th sparked renewed interest in the role changes in actual demand played in the rebound. Revisiting our own model from January 2015 shows that only 34% of the… Continue reading Crude Oil’s Supply/Demand
<Click on chart for larger image> The Wall Street Journal – Net Worth of U.S. Households Rose to Record $86.8 Trillion in Fourth Quarter, Fed Says Stock prices, home equity boost Flow of Funds data for end of 2015 U.S. households ended 2015 with their home equity at the highest level in a decade, a… Continue reading Household Net Worth Now At $86.8 Trillion
Bloomberg.com – Italy Offers Escape From Negative Rates With Floater Yield Floor Italy’s decision to set a floor of zero on the coupon on its floating-rate notes may boost demand for the securities as countries adapt to negative interest rates across the euro area’s sovereign-debt market. The Rome-based Finance Ministry said Tuesday that coupons on… Continue reading Italy Combats Negative Rates
<Click on graphic for larger image> The Financial Times – Go on, guess: The global rate-cut tally since 2008 No cheating. How many interest rate cuts do you think there have been around the world since the collapse of Lehman Brothers in September 2008? The answer, courtesy of Alex Dryden at JP Morgan Asset Management,… Continue reading Can You Guess The Number Of Rate Cuts Worldwide Since 2008?
Bloomberg Business – China’s True Demand For Copper Is Only Half as Much as You Think A 15 million metric tonne stockpile. Virtually every aspect of the commodities bust has a China angle. Forecasts for China’s consumption of raw materials have proved wildly optimistic, while domestic production of certain resources have resulted in particularly severe… Continue reading Determining China’s Real Demand For Copper
MarketWatch – Matthew Lynn: Central banks will never admit they’ve run out of ammunition, but they have Over the last few weeks, in the wake of the latest of the latest round of extraordinary policy measures from central banks in both Europe and Japan, senior officials have spent a lot of time telling the markets… Continue reading Running Out Of Ammo
Bloomberg.com – Narayana Kocherlakota: Ask the Next President About the Fed The next U.S. president will have the opportunity to appoint (or re-appoint) someone to one of the most powerful positions in the world: the chair of the U.S. Federal Reserve. Yet voters still know far too little about how the leading presidential candidates would… Continue reading Five Questions For Presidential Hopefuls About The Next FOMC Chair
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