Weak inflation data would have surprised U.S.markets if they had been open
U.S. financial markets are closed today for Good Friday so we don’t have any market reaction to this morning’s surprising inflation data. My best estimate, though, is that on Monday markets will assume that the data argues for a slower than expected schedule for higher interest rtes.
Notes You Need for April 10: Bank earnings, French elections, Dollar, Euro, India e-commerce, Flipkart, Gold
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Notes You Need for April 3: China corporate bond defaults, Libya oil production, U.S. manufacturing, dollar, AAPL, Treasury yields
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Housing strength and Fed chatter push dollar higher–and economy continues to support stocks
Pending home sales for February climbed 5.5%, according to the National Association of Realtors. Economists surveyed by Briefing.com were looking for a 2.4% gain. The jump is the largest since July 2010.Pending home sales had dropped 2.8% in January.
Do markets seem a little nervous today?
It’s not like anything momentous happened over the weekend. It didn’t. But if you’re inclined to read tealeaves, the implications of this weekend are unsettling. Which seems to have affected the financial markets today.
Saturday Night Quarterback says, For the week ahead expect…
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Winners from the Fed’s move on Wednesday
The jump in the price of gold and the even huger spike in the prices of gold mining stocks tells us something really important about how the financial markets see the Federal Reserve’s action and rhetoric on Wednesday, March 15. Gold for April delivery climbed 2% in New York after the Fed raised its short-term benchmark interest rate by 25 basis points. The VanEck Vector Gold Miners ETF (GDX) roared ahead 7.69%
Brexit moves closer as House of Commons votes down Lords amendments
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Oil falls below $50; market rethinks Trump reflation trades
West Texas Intermediate was down 2.74% to $48.90 a barrel today as of noon New York time. International benchmark Brent crude was lower by 2.60% to $51.73 a barrel. The drop in West Texas Intermediate brought the price per barrel below the psychologically important $50 level. Oil had already tumbled 5.7% in the last three trading sessions.
Markets say the European Central Bank is about a year behind the Fed in raising interest rates
Ahead of Thursday’s meeting of the European Central Bank futures markets have started to raise the odds that the bank will start raising its benchmark deposit interest rate beginning in April 2018. The market was putting the odds of an April increase at 20% last month. Those odds have now climbed to 40%, according to Bloomberg.
Dollar climbs on Trump speech; markets bet on more U.S. growth and sooner rather than later interest rate increase
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