Bloomberg Business – New York Fed Had `Major Lapse’ in Robbery, Bangladesh Says Bangladesh’s central bank has suggested the Federal Reserve Bank of New York had a “major lapse” in allowing hackers to transfer $101 million in transactions that it later flagged as suspicious, according to an internal document seen by Bloomberg. The document, dated… Continue reading More On The Bangladesh Hack
The Wall Street Journal – Central Banks Creep Toward Uncomfortable Role: Central Planners European Central Bank and Bank of Japan are starting to break one of the tenets of the profession by funneling cash directly to what they regard as ‘good’ uses Are central banks heading back to an era of rationing money? The question… Continue reading This Story Is About 8 Years Too Late
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On Rebounds And Election Betting A transcript of the March 17, 2016 conference call. Handout Audio [audio:https://www.biancoresearch.com/bianco/SubscriberArea/031716.mp3|titles=Conference Call ] Webcast (download if flash video does not work below) [hana-flv-player video=”https://www.biancoresearch.com/bianco/SubscriberArea/031716.flv” width=”600″ height=”495″ description=”” player=”3″ autoload=”false” autoplay=”false” loop=”false” autorewind=”true” splashimage=”https://www.biancoresearch.com/bianco/wp-content/themes/twentyten/images/splash.jpg” /] [pageview class=”PDFViewer” url=”https://www.biancoresearch.com/bianco/wp-content/plugins/PDFViewer/plugin.php?id=291″]
Factset – Earnings Insight for March 18, 2016 Lowest Net Profit Margin (9.3%) Projected for S&P 5 00 since Q4 2012 (8.9%) For Q1 2016, the estimated net profit margin for th e S&P 500 is 9.3%*. If 9.3% is the actual net profit margin for the quarter, it will mark the lowest net profit… Continue reading What Is Corporate America Telling Us?
<Click on graphic for larger image> Bloomberg.com – ECB Doing Whatever It Takes Can’t Push Euro-Area Banks to Lend The European Central Bank began charging banks interest on deposits in June 2014 to encourage them to lend more to companies and consumers. It hasn’t worked. Deposits at the ECB by euro-area banks in excess of… Continue reading Pushing On A String
CNBC – Bernanke: Monetary policy ‘reaching its limits’ Monetary policy in the United States and other developed countries “is reaching its limits,” but the Federal Reserve has not yet run out of responses to a potential slowdown, former Fed Chairman Ben Bernanke wrote Friday. In a blog post for the Brookings Institution, he argued a… Continue reading Bernanke Speaks On Negative Rates
The Wall Street Journal – Widening U.S. Home-Price Gap Makes Trading Up Harder The widening gap between the middle and upper tiers of home prices is making it harder for people to trade up, tightening inventories and pressuring prices, according to a study set to be released Monday. The analysis, by real-estate tracker Trulia, found… Continue reading Housing Supply/Demand
<Click on graphic for larger iamge> Bloomberg.com – Why the Global Oil Glut Might Not Fill Swimming Pools After All Predictions surplus oil would shift to sea yet to materialize Oil prices exceed $40 amid signs of slower inventory growth One of the warning lights that there’s too much oil around is no longer flashing,… Continue reading Crude Oil Supply/Demand
MoneyBeat (WSJ Blog) – Apple Can’t Shake the Curse of the Dow Since joining the blue-chip index a year ago, Apple shares are down about 18% For Apple, the “Curse of the Dow” seems real. When the trading day ends Friday, it will mark one year since the tech giant replaced AT&T in the Dow… Continue reading The Curse Of The Dow
<Click on graphic for larger iamge> Bloomberg.com – The Fed Keeps Talking, and Bond Traders Just Get More Confused Latest decision spurs biggest Treasuries rally in 17 months Surprises may erode confidence in FOMC guidance, Cantor says The median Fed projection was lowered to two interest-rate increases this year, down from four at its December… Continue reading The Markets React To FOMC Decision
<Click on graphic for larger image> Bloomberg.com – Wall Street’s Pile of Unwanted Treasuries Exposes Market Cracks The world’s biggest bond dealers are getting saddled with Treasuries they can’t seem to easily get rid of, adding to evidence of cracks in the $13.3 trillion market for U.S. government debt. The 22 primary dealers held more… Continue reading Dealers’ Treasury Holdings