Overnight markets were mixed, with China losing about 7%. The Shanghai Composite Index has now lost about 20% in the last nine sessions, though it is still 30% higher on the year (some of the other indices there are up even more).
The Fed downgraded its economic assessment and raised the bar as to what would cause it to tighten. Thus, versus expectations, in "beat-the-number" parlance, the Fed "missed and lowered." Given the world economy, they may never raise rates, but the change...
Feb 13 – Cris Sheridan welcomes Bill Fleckenstein, author, columnist and president of Fleckenstein Capital. Bill comments that we could easily see another 15-20% correction in the market but that the Fed will...
I don't want to make too much of today's news and market action, but on the other hand, I want to make sure to acknowledge what importance it does have and the fact that I think today will be looked back on as a red letter day...
Everyone needs to buckle up because there is a lot to cover as I try to do justice to the wild events that took place in markets from Thursday through today, and what I think some of the ramifications may be.
Mario Draghi came as close to the “full Monty” as he possibly could by cutting interest rates 10 basis points to a measly five basis points, and increasing the negative deposit facility rate to -20 basis points. In addition, he promised to begin buying about $400 billion worth of asset-backed securities in about a month.
Stock market action finally became interesting for a change today, both on and beneath the surface. First of all, the SPOOs [S&P 500 index futures] were weak overnight, for no particular reason, though the mainstream media tried to make up several excuses ranging from Argentina's default...
I am beginning to see more and more stories about price hikes in various and sundry publications. Today’s Wall Street Journal and New York Times contained no fewer than three articles on this topic.
A slowdown in China, further reductions in Fed stimulus, and an eventual crack up in the bond market have raised the possibility of a larger correction later this year, said Bill Fleckenstein, President of Fleckenstein Capital.
Mar 19 – Jim welcomes back Bill Fleckenstein, president of Fleckenstein Capital, as well as an author and columnist. Bill and Jim cover a number of topics, including Bill’s contention that there is a large degree of speculation in...
Overnight markets were essentially a sea of green and the recent stock market rally continued here as well, with the testimony by Fed governor Janet Yellen merely reiterating the status quo, i.e., the Fed will continue to taper if the data support it...
Overnight markets were uneventful, as they have been, and the early going here saw the indices slightly green, while beneath the surface, speculation continues to be the flavor of the day.
Overnight equity markets were unremarkable, while debt markets around the world continue to rally while they follow our Treasuries higher, as whatever weakness was inspired by the fear of Fed tapering comes back out of the market.
Some of you may be scratching your heads and wondering, if Syria was the proximate cause for today's decline, why didn't it matter until now? I think that brings up a point I have made many times, though not recently, that markets these days seem to discount next to nothing anymore.
Overnight markets were quiet and modestly higher. Equities in the early going here were perky, led by the Nasdaq, which gained 0.75% as speculation begets more speculation, in the same way rising prices beget a continuation of rising prices.
Overnight markets were higher, led by Japan, which gained 3.5%. The Reserve Bank of Australia joined the worldwide easy money party last night, as it dropped rates by 25 basis points.
Overnight markets were a nonevent and the early going saw the indices flopping around unchanged, though they spent most of the time slightly lower in totally dull trading, especially considering the epic run that has taken place thus far.
Worldwide equity markets were higher last night as the global rally, which began in mid-November and has been grinding higher in various fits and spurts, continues. It seems to me that some of this rally has been a consequence of so-called professional investors who must outperform their various benchmarks.
Congress and the administration are a total embarrassment, as this entire exercise has been about posturing rather than dealing with any of our issues. Even worse, we are going to see this same sorry movie again as we approach the debt ceiling, since it is extremely unlikely that anything of consequence will be done until that deadline is fast upon us.
Dec 27 – Jim welcomes back Bill Fleckenstein, president of Fleckenstein Capital in Seattle, and author of Contrarian Chronicles for MSN Money. Bill believes the deflation fears are fading as the country enters a period of stagflation. He also sees...
