Readers know that I am leery of the current market. My super is all in cash at the moment and I have a sense that there are moves underneath the fresh all-time highs in the S&P 500 and the post GFC highs in the local stock markets that something else is afoot – maybe subtle, maybe seismic but eno…
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Nothing is happening in the markets, but something is going on
The availability of jobs in Japan rose to the highest in 22 years, in an encouraging sign that a tighter labour market will boost wages and support consumer spending. The jobs-to-applicants ratio rose to 1.10 in June from 1.09 in the previous month, data from the labour ministry showed on Tuesday…
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Japan June labour demand hits 22-year high; jobless rate rises
Japan’s household spending fell 3 percent in June from the year ago period, data showed on Tuesday, better than the 3.8 percent drop forecast by Reuters and after the 8 percent slump in May. Jobless rate for the month rose to 3.7 percent from 3.5 percent in May and higher than the 3.5 percent for…
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Japan’s household spending fall 3% in June, less than expected
EUR/USD has not rallied to form a wave-4 correction and instead continues to extend lower in impulsive decline, notes Nomura. “Prices are moving further from old trendline and pivot support and there’s not yet a sign of waning downside momentum. Our strategic outlook has been and remains bearis…
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Watching S/T Bounces In EUR/USD, USD/JPY: Levels & Targets – Nomura
It is now widely accepted that the recent global financial crisis was actually a balance-sheet crisis. Long periods of negative interest rates facilitated the unsustainable financing of asset purchases, with high-risk mortgages weakening national balance sheets. When liquidity in the key interbank…
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China’s Subprime Risks
Sterling is “overvalued” and this may hamper efforts to rebalance the British economy, the International Monetary Fund has warned the Chancellor. In an otherwise-optimistic annual assessment of the UK economy, the IMF told George Osborne that the pound was 5pc to 10pc overvalued. This could hit e…
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The pound is overvalued, warns the IMF
The U.S. dollar traded mostly flat against a basket of major currencies on Monday, halting last week’s advance but still hovering near six-month highs as traders awaited a glut of economic data and policy releases. The dollar inched lower against the euro but still traded near eight-month highs a…
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Dollar mostly flat ahead of key U.S. economic data, Fed meeting
Zillow Inc. (Z) agreed to purchase Trulia Inc. (TRLA) for $3.5 billion in an all-stock deal that is designed to make the combined entity the largest in online real estate advertising. Trulia shareholders will receive 0.444 shares of Zillow for each share of Trulia, the companies said in a stateme…
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Zillow to Acquire Trulia for $3.5 Billion in Stock
You may not want to bring this up at any London dinner parties, but there are tentative signs that the bubble in U.K. housing prices that’s helped boost the economic recovery by underpinning consumer confidence may be running out of puff. Given the British obsession with home ownership, any evidence…
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Housing Bubble May Pop Entire U.K. Economy
On a move higher, the pair has some important targets that will then need to be broken to keep the bulls in charge. They include: The 200 day MA (green line in the chart below at 1.0827) The 38.2% and topside trend line at the 1.08707 area The 200 day MA at the 1.0897 level and the The 50%…
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USDCAD: Be Aware of the bull flag/200 day MA
Wall Street has gone to some extreme lengths to get rich. In the hyper-competitive environment, everyone needs to be smart, fast, and ruthless. Ask any trader, and they might have their own ideas about how to get an edge on everyone else beyond just hard work. We’re talking about stuff that bord…
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12 Bizarre Things Wall Streeters Do To Be Better Traders
Analysts are growing concerned that Eurozone bond markets are not reflecting economic conditions and that record low yields are a sign that investors have become too confident that Europe’s high debt levels won’t come back to haunt the region again. Eurostat reported last week that first quarter …
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Questions Raised Over Complacency In EU Bond Markets
One of the unwritten rules of modern central banking is that, unless compelled by events on the ground, officials should refrain from making big policy changes during the summer. With many traders on holiday, any sudden moves risk destabilizing markets. Look for the Federal Reserve to abide by th…
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Don’t Be Fooled by the Fed’s Facade
The Federal Reserve has a choice to make this week, whether or not to attempt to shake markets out of their complacency by highlighting that the first rate hike may come sooner than expected or that rates could rise faster than expected. After all, Fed Chairwoman Janet Yellen already said as muc…
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Is there anything the Fed could say to rock the market? Maybe this tweak
One of the oldest rules on Wall Street is, don’t fight the Fed. When the Federal Reserve is cutting rates, you want to be long equities, and when it is tightening, get out of the way. This has been a cause for concern since the Fed began talking of tapering its program of quantitative easing and…
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The Threat of Rising Rates
It’s been an excruciating slow start to the trading week with an absolutely barren economic calendar in both Asia and Europe today. Over the weekend, news hit the wires that the US and Europe are preparing another round of economic sanctions against Russia for their involvement in the ongoing clash…
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GBPUSD Bulls Standing on the Precipice
It’s the bit of the wrist-slapping process that banks hate most: transcripts time. Authorities in the U.K. and U.S. have released transcripts of electronic conversations between traders relating to the roughly $370 million fine given to Lloyds Banking Group PLC regarding efforts to manipulate Lib…
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The Lloyds Files: “Never Get Cross Wiv Yer Mate”
It’s the bit of the wrist-slapping process that banks hate most: transcripts time. Authorities in the U.K. and U.S. have released transcripts of electronic conversations between traders relating to the roughly $370 million fine given to Lloyds Banking Group PLC regarding efforts to manipulate Lib…
Fewer Americans than forecast signed contracts to buy previously owned homes in June, a sign residential real estate is struggling to strengthen. The index of pending home sales declined 1.1 percent from the month before after rising 6 percent in May, figures from the National Association of Real…
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Pending Sales of U.S. Existing Homes Unexpectedly Fell in June
After three consecutive months of solid gains, pending home sales slowed modestly in June, according to the National Association of Realtors®. The Pending Home Sales Index,* a forward-looking indicator based on contract signings, declined 1.1 percent to 102.7 in June from 103.8 in May, and is 7.3…
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Pending Home Sales Slip in June
