July 3, 2017 | Daily JAM, Morning Briefing |
The Institute for Supply Management’s manufacturing index for June released this morning climbed to 57.8 from 54.9 in May. That was the highest level of the index, where anything above 50 signals expansion, since 2014. Economists surveyed by Briefing.com had projected a slight uptick to 55 for June.Â
June 12, 2017 | Daily JAM, Notes You Need |
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May 22, 2017 | Daily JAM, Notes You Need |
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May 19, 2017 | Daily JAM, Notes You Need |
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May 17, 2017 | Daily JAM, Morning Briefing, Short Term, Volatility |
This morning it looks like the combination of turmoil in Washington and some weak economic data have led traders and investors to take money out of risk assets and put money into safe havens. The Standard & Poor’s 500 was off 1.11% and the NASDAQ Composite, which has led this market higher, was down 1.6%. The German DAX Index was off 1.3% and the French CAC 40 Index fell 1.69%.
April 28, 2017 | Daily JAM, Friday Trick or Trend |
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April 25, 2017 | Daily JAM, Morning Briefing |
Last night President Donald Trump backed off his demand that any deal to fund the federal government include money to start construction on The Wall. At an event with conservative journalists, Trump said he’s okay waiting until September to have this fight. Which would seem to indicate that the President would sign a funding bill that doesn’t include money for The Wall.
April 24, 2017 | Daily JAM, Notes You Need |
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April 20, 2017 | Uncategorized |
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April 18, 2017 | Daily JAM, Notes You Need |
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April 14, 2017 | Daily JAM, Morning Briefing |
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.
April 11, 2017 | Daily JAM, Morning Briefing |
It’s a classic risk off market today as of 4 p.m. New York time. All the safe havens are up. The yen is ahead 1.2% to 109.65 to the dollar, breaching the 110 level for the first time since November. Gold is 1.73% higher to $1275.60 an ounce. The 10-year U.S. Treasury is up and the yield is down to 2.30%. And riskier asset classes are down. Modestly.
