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Trick or Trend: So when do you buy Brazil?
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Buy on the dip reflex is still in force today
Last night I posted that today would be critical for this market’s buy on the dip reflex. Yesterday’s move up after the Wednesday rout wasn’t convincing. As long as traders and investors treat any dip as an occasion for buying, it will be difficult for this market to build up any downside momentum. So far, today’s market action is a very strong vote in favor of the continued working of the buy on the dip reflex.
Oil back down this morning as “hedgies” reposition
So much for Monday’s oil rally. This morning, a day after Russia and Saudi Arabia succeeded in talking up oil prices with promises that OPEC and allied non-OPEC producers would extend the current production cuts past their June expiration until the end of 2017, U.S. benchmark West Texas Intermediate is down 0.8% to $46.06 a barrel and international benchmark Brent crude is off 0.81% to $48.94 a barrel as of noon in New York
Macron swamps Le Pen but Euro markets retreat
And now comes the hard part. Centrist newcomer Emmanuel Macron trounced far-right candidate Marine Le Pen in Sunday’s vote for president of France. The political and business leaders of France and the European Union certainly breathed a sigh of relief. Le Pen had threatened to pull France out of the euro. But the euro and European financial markets are generally lower today.
Optimism reigns as we head into first quarter earnings
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Market reacts to Fed meeting–and then over-reacts as it hears Fed say rates will stay really low for really longer
Today Friday March 17, the financial markets have moved to the other end of the dial from its pre-meeting worries. Markets have decided that the Fed’s comments indicate that Janet Yellen & Co. are very dovish on inflation and interest rates.At the close of trading on Thursday the 10-year Treasury had dropped to 2.53%, that’s below the peak this week of 2.63%. Today the yield dropped further to 2.50%
Waiting–still–for the bond market bear: How to tell when it’s at the door
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China’s growth target: More of the same but a little less
China’s government has announced its new economic growth target for 2017. At “around” 6.5% it’s just a bit lower than the 2016 target of 6.5% to 7%. China’s GDP grew by 6.7% in 2016. The slight decline in the headline growth target is echoed throughout the government’s planning.
Now the big question for oil shares: When does the world hit peak oil demand?
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...More than one-third of U.S. households will struggle to pay their water bills within the next five years
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