<Click on chart for larger image> The Telegraph (UK) – Ambrose Evans-Pritchard;Time running out for China on capital flight, warns bank chief ‘The Chinese have not been very convincing. There is a perception that the renminbi could weaken drastically,’ warns the Institute of International Finance China is rapidly losing the confidence of global lenders and… Continue reading Capital Controls Coming To China?
Business Insider – Here are the full results of the Iowa caucuses Sen. Ted Cruz of Texas and former Secretary of State Hillary Clinton have won the 2016 Republican and Democratic Iowa caucuses — though Clinton’s victory was extremely narrow. The first voting in the 2016 presidential nominating contests shined some light on how candidates… Continue reading What Did The Iowa Caucus Tell Us?
<Click on chart for larger image> Bloomberg.com – Japan’s Central Bank Isn’t Out of Options Yet, Abe Aide Says Negative interest rates ‘not the last resort’ for BOJ: Seko Move won’t affect depositors if banks act properly: Seko The Bank of Japan isn’t running out of policy options in its attempt to reinvigorate the economy,… Continue reading Japan Has More Tools To Drive Rates Even Lower
<Click on graphic for larger image> Bloomberg.com – Think Crude’s Cheap? Biodiesel’s Going for Free in Some Places Incentives have reduced biodiesel costs to customers Congress reinstated $1-a-gallon tax credit in December Biodiesel’s become so cheap in the U.S. that some refiners are being paid to use it. Midwest refiners are paying as little as… Continue reading Free Gas!
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On Oil, China, The Economy & The Fed A transcript of the January 28, 2016 conference call. Handout Audio [audio:https://www.biancoresearch.com/bianco/SubscriberArea/012816.mp3|titles=Conference Call ] Webcast [hana-flv-player video=”https://www.biancoresearch.com/bianco/SubscriberArea/012816.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=280″]
Fact Set – Above Average Drop in S&P 500 EPS Estimate for Q1’16 to Date, as Energy EPS Falls 54% During the month of January, analysts lowered earnings estimates for companies in the S&P 500 for the quarter. The Q1 bottom-up EPS estimate (which is an aggregation of the estimates for all the companies in… Continue reading An Earnings Update
<Click on chart for larger image> Comment The bottom panel of the chart above shows the Fed’s foreign central bank custody account shrunk by $58 billion in the first four weeks of this year. The only other time in the last 10 years that the custody account shrunk this quickly was when Russia pulled out… Continue reading More Foreign Central Bank Selling
Comment Jim Bianco was on Bloomberg TV on Friday talking about the markets. To view the interview, click on the image above. To view any of our recent interviews, click here.
<Click on graphic for larger image> Bloomberg.com – Central Banks Intensify Campaign for Negative Rates BOJ follows ECB, SNB, Denmark and Sweden into sub-zero world Negative rates may become `new normal,’ says economist Stein Central banks are turning even more positive about negative interest rates. In surprising markets by penalizing a portion of banks’ reserves,… Continue reading Negative Rates
<Click on graphic for larger image> The New York Sun – Hello, Ben . . . ? We love that cartoon on the front page of the latest Grant’s Interest Rate Observer. The drawing, by the newsletter’s Hank Blaustein, shows the Federal Reserve building, with a line suggesting someone is inside saying: “Hello, Ben? Now… Continue reading More Calls That The Fed Made A Mistake In Hiking
The Financial Times – Mohamed El-Erian: Growth worries spur closer oil and equities relationship A better explanation of the correlation between oil and equities is that both are being influenced by three more general developments. First, downward revisions in global growth projections on account of concerns about uncharacteristic policy mishaps in China and other emerging… Continue reading The Stock/Crude Correlation