From Fed Chair Jerome Powell: Monetary Policy in the Post-Crisis Era. Excerpt: In our baseline outlook, we expect growth in the United States to remain solid, labor markets to stay strong, and inflation to move back up and run near 2 percent. Uncertainties about this outlook have increased,...
Emerging Money Daily Audio Call November 15 - If growth proxy plays for the economy are rallying and energy is just off 27m highs why is high-yield testing fresh lows in the first part of today before we covering in the afternoon to be flat on the day?
Trump weights to bash Asia on trade until...
Emerging Money Daily Audio Call November 14 - The market once again hides significant pain below lake placid (aka SPX, NDX, INDU ) and we are highlighting key areas of breakdown where not only are RSI's flashing oversold but the support has been broken or in some cases annihilated.
Time for...
On the call today we size up the move higher in rates over the last 48hrs and try to gauge potential impact of the break down High Yield.
Meanwhile oil, commodities head higher and are supported by better industrial data and global macro. We have a better global economy this week over last....
Nothing drove the ECB to the extremes more than oil. With Brent nearing $65.00/bbl we are now more than 2x the level of the bottom lows.
Oil at these levels means the ECB who has done nothing yet to pull back on the QE and rates cycle they implemented is that much more behind the curve.
They...
Emerging Money Daily Audio Call November 8 - On the call today we highlight extreme bullish sentiment for global equity markets coupled with a the stall in small-cap stocks.
Something might have to give.
Chinese trade data out last night supports our view of a strong foundation under the...
Emerging Money Daily Audio Call November 7 - Global markets set fresh highs overnight and we continue to point towards Japan for leadership based on elevated EPS growth and capex reinvestment that should prove reflationary.
The DAX, too has rallied to new highs even when you weave in Dollar...
Here is an article written by an Emerging Money Alumni, Craig Mellow who correctly points out how Bitcoin could be characterized as an Emerging Market. Those of us who have toiled in Emerging Markets over our careers see a lot of parallels with the whole Bitcoin movement. Why Bitcoin Is Right at Home in Emerging Markets A store of value in nations with weak currencies could prove very popular, and “a good alternative to hoarding TV sets.” To Wall Streeters, Bitcoin may look like tulip bulbs for millennials. but for long-suffering citizens of Venezuela or Zimbabwe, the cryptocurrency is emerging as a lifeline. In those countries, where the currencies really are fiat and hyperinflation eats a paycheck in a matter of days, Bitcoin’s funky, invisible peer-to-peer regulatory backbone can seem safe by comparison. “We’re seeing an uptake of millions of bolivars a week,” says Gavin Serkin, editorial director at OnFrontiers, a London-based consulting firm. In a country like Venezuela, “it’s a good alternative to hoarding TV sets and other stuff you don’t need.”...
Emerging Money Daily Audio Call November 6 - While we have a light week ahead on macro data, Trump's trip to Asia promises to produce headlines on trade policy and North Korea while domestic headlines get a little heavier on where the administration has links to the Russia related acquisitions....