Bloomberg.com – The Dark Art of Decoding FOMC Minutes in Age of Fed Transparency Like fresh scraps of meat for a pack of hungry wolves, minutes of Federal Reserve policy meetings are tossed to central bank watchers every six weeks. They arrive three weeks after each session of the Federal Open Market Committee and, at… Continue reading Interpreting FOMC Minutes
<Click on graphic for larger image> The Wall Street Journal – Fed Move Is No Sure Thing for Bank Profits A target-rate increase from the Federal Reserve next month looks very likely. But the attendant boost to profits at banks may be far more modest than anticipated. Banks are in the business of maturity transformation:… Continue reading The Fed & Bank Profits
MoneyBeat (WSJ Blog) – Think Crude Oil’s Low Now? Try This Bear Case… Oil prices are trading near levels not seen since the depths of the financial crisis, but Citigroup Inc. believes there is an increasing chance that crude could dive even lower. Citi’s “bear case” forecast is now for the price of U.S. benchmark… Continue reading Citi’s Bearish Crude Call
[pageview class=”PDFViewer” url=”https://www.biancoresearch.com/bianco/wp-content/plugins/PDFViewer/plugin.php?id=268″] Audio [audio:https://www.biancoresearch.com/bianco/SubscriberArea/081315.mp3|titles=Conference Call ] Comment Yesterday we hosted a conference call titled Can Both Economists & The Market Be Correct? If you missed it, the handout and audio are above. Monday we will send out the transcript. Quick Summary The overwhelming majority of economists expect a rate hike. This was highlighted again… Continue reading Conference Call: Can Both Economists & The Market Be Correct?
<Click on graphic for larger image> <Click on graphic for larger image> Real Time Economists – WSJ Survey: Oil and Inflation Are Stubborn Disappointments The history of oil tycoons is littered with booms and busts—fortunes that swelled and collapsed with unexpected velocity—subject to the vagaries of oil discoveries and the high-stakes game of world diplomacy… Continue reading Still Bullish On Crude Oil
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<Click on graphic for larger image> The Economist – Stuck in the middle Emerging markets are being squeezed by America’s recovery and China’s slowdown TURMOIL has become a commonplace of financial markets in recent summers. This one is no different. An unexpected devaluation of the yuan this week fuelled fears about the state of China’s… Continue reading Emerging Markets And The Yuan
<Click on graphic for larger image> The Economist – In jeopardy Shinzo Abe’s sliding popularity is putting Abenomics at risk Most encouragingly, GDP is on a steady upward trend in nominal terms (see chart). It was Japan’s chronic failure to grow in nominal terms over the past two decades that set it apart from other… Continue reading Problems In Japan
None Today
Comment Today at 9 AM CT (10:00 AM ET, 7:00 AM PT, and 15:00 BST), Bianco Research, in conjunction with Arbor Research & Trading, will be hosting a webcast/teleconference moderated by Jim Bianco. In recent weeks the Federal Reserve has been very clear on their intention to raise rates in September. However, the short-term interest… Continue reading Can Both Economists & The Market Be Correct?
The Wall Street Journal – Crude Prices Seen Staying Below $70 A Barrel Over The Next Year With the price of oil near levels not seen since the depths of the financial crisis, analysts are increasingly bearish on whether crude can break out of its year-long slump. A survey of 10 investment banks by The… Continue reading Crude Oil Projections