Latest Hilsen-Rumor Put Cherry on Equity Rally - June 13, 2013 21:19

After last night’s thrashing on the TOCOM which saw the Nikkei 225 drop 843.94 points to close at 12,445.38 (or minus 6.4%) the US equity markets were looking at another potentially ugly day. But the Yen abruptly stopped appreciating and began turning back toward Â¥95, which it achieved just before the publication of the latest […]

Non-Farm Payroll Report Sends Equities Soaring - June 8, 2013 2:07

Days like today have me hearing echoes of Bob Cole on Hockey Night in Canada running through my head, “Stick Save!  And a beauty!”   The S&P 500 was well on its way to putting in  a full-blown reversal bar on the weekly chart this week with a close below 1626.40.  Considering just yesterday the markets […]

The Beat Goes On — S&P Sets New Record - May 14, 2013 23:56

All of the money being printed by the major central banks simply has nowhere else to go.  Today the S&P 500 rallied again late in the session as managed money went bargain hunting with newly minted dollars, yen and euros.  The benchmark equity index closed at 1650.34 (+1.02%) while the Dow Jones Industrial Average rose […]

Labor Report Sends Equities Soaring - May 4, 2013 15:33

While Friday’s jobs may have been more fiction than fact (see Dave in Denver’s breakdown of it here) that didn’t stop the computers from kicking the programs into overdrive and run some overhead short positions which took the S&P 500 over 1600 to close at 1614.42 and the Dow Jones Industrial Average briefly over 15000 […]

Commodity and Equity Bifurcation Continues Towards Plaid - April 23, 2013 21:42

The markets have gone plaid.  We had horrible Chinese and German flash PMI data come out this morning which kept commodity prices under duress all day. Copper continues its trek towards $3.00 per lb.  Silver broke back below $23 after challenging $24 yesterday. The grain complex was whacked across the board in late session trading […]

Brent Arrests Slide as WTI Spread Widens - February 13, 2013 1:39

Brent Crude prices reversed a two-day slide that began last Friday after coming within sight of $120 per barrel on short-term inflation expectations.  In doing so the spread between it and West Texas Intermediate Crude widened back above $20 per barrel.  The spread had narrowed considerably on the re-opening of the Seaway pipeline.  But traders […]

Fiscal Cliff Headilnes Continue to Reveal Fed Strategy - November 12, 2012 22:53

Extend and pretend is the phrase that will be written on the tombstone of the early 21st century governments and central banks.  that is all they can do at this point.  Since announcing QEIII back in September the Federal Reserve has not actually begun printing and more than the E.C.B. has.  The E.C.B. has the […]

Election Changes Little, Gold Goes for a Ride - November 7, 2012 21:56

The U.S. elections last night proved to be a whole lot ofsound and fury signifying very little.  From a tactical standpoint the GOP got its head handed to it on a fiat money platter.  Their strategy was to sacrifice the presidency by running an empty suit in Romney and use the voter outrage to win […]

Single Currency recovers as Euro Bonds Stabilize - November 18, 2011 23:49

The euro recovered on Thursday as the investors were optimistic on stabilization of euro bond yields. The yield on the Italian 10-year government bond fell back to 6.81 percent from 7 percent in reaction to which the euro touched its intraday high of 1.3540. However, the Spanish government‘s 10-year bond still traded above the yield […]