Interbank loans (red line, top panel … middle panel YoY change) has been falling even though total bank assets have been rising (blue line, top panel) Interbank loans as a percentage of all bank asset are down a lot in recent years and appear to have bottomed around February 2016. A big part of… Continue reading Bank Loans
Stocks have had a great since run since the election. The NASDAQ leads the major indices up 31.62% while the S&P 500 lags the other indices up 23.25%. Financials are up 35.45% since the election. For additional stock returns, see the interactive chart below.
The Bloomberg commodity index is up 3.66% since the election last year. For additional commodity returns, see the interactive chart below.
The Bloomberg Treasury index down slightly (-0.75%) since the election after initially falling nearly 4%. For additional fixed income returns, see the interactive chart below.
Jim Bianco was on CNBC yesterday discussing the Fed chief decision.
G10 central banks are tightening where economic growth is weakest. Sets stage for superior EM growth, sustained EM inflows.
Bloomberg – Nickel Surges to Best Since 2015 on Promise of Electric-Car Boom Future batteries will probably use more nickel, less cobalt Nickel rocketed to a two-year high in London and climbed by the daily limit in Shanghai, as investors bet on a long-term boost to demand from the rise of electric cars. Other metals also… Continue reading Industrial Metals Getting Over Their Skis
Zero Hedge – Here Is Another Thing “The Market Has Never Done Before” In this historic, for global markets, year we are fast running out of things “the market has never done before.” For today’s entry we go to Deutsche Bank’s Jim Reid who looks at the S&P’s performance in the month of October, and… Continue reading The S&P Extends Its Positive Monthly Streak
The Wall Street Journal – Why the Dow Jones Industrial Average Is Crushing the S&P 500 in October Some investors remain anxious about what could go wrong for a stock rally that has sent the DJIA to 54 record closes this year The Dow Jones Industrial Average raced past its rival indexes in October, as a… Continue reading The DJIA Beats The S&P 500
MarketWatch – Greg Robb: Fed statement may have treats for the hawks and the doves Language could both point to December rate hike and show growing caution on the inflation outlook The Federal Reserve will meet Tuesday and Wednesday. There is no press conference or new economic forecasts scheduled, so economists will be left to… Continue reading What To Look For In Today’s FOMC Statement
Bloomberg View – The Tool Central Bankers Need Most Now Computer modelling offers a better tool for monetary policy than the outdated methods currently being used. In June of this year Janet Yellen, Chair of the Federal Reserve, appealed for ideas around how Central Banks should set their inflation target, which the conventional wisdom says should be… Continue reading The Fed’s Use Of Models
CNBC – Bitcoin surges to record after CME announces launch of futures for digital currency CME announced Tuesday it plans to launch bitcoin futures in the fourth quarter of the year, pending regulatory review. Bitcoin has surged more than six times in price this year and rose to a record high above $6,330 Tuesday morning after the CME announcement,… Continue reading Bitcoin Rises After CME Announces A New Bitcoin Futures Contract