Bank of America

Three Reasons Why Retail Sales Are About To Disappoint Bigly

Retail sales ex-autos, as measured by BAC aggregated credit and debit card data, declined 0.1% in August. Controlling for the increase in gasoline spending, retail sales ex-autos and gasoline declined 0.4%: the sharpest drop YTD, and it's not just Hurricane Harvey's fault...

Could Market Complexity Trigger The Next Crash?

Just like in an avalanche, where various factors at the top of a mountain (accumulating volumes of snow, weather, temperature, geology, gravity, etc.) make up a complex system that is difficult to predict, markets are similarly complex... and prone to instantaneous collapse.

How Harvey And Irma Will Slam The US Economy: A Complete Walk Thru From BofA

Hurricane Harvey may end being the most expensive natural disaster in history (Irma damages estimates are still not available). Expect to see the sharply negative impact from Harvey in upcoming economic data, including jobless claims, manufacturing and consumer data, and eventually , GDP. Here's the full walk thru.

Dow Jones Changes "Hoax" Index Divisor For First Time In 2 Years

For the first time in two years, the owners of the Dow Jones Industrial Average have changed the benchmark’s divisor, the number used to determine how moves in the share prices of individual Dow components affect the level of the index... "Is the number of points that the Dow Jones now gives us a truth or a fictional truth?"

What Share Of Bond Markets Do Central Banks Own: Deutsche Bank Answers

In light of the upcoming ECB meeting, where Mario Draghi will be asked how he plans to reconcile extending QE with declining amounts of QE-eligible bonds, Deutsche Bank has released a useful analysis breaking down what share of bond markets the biggest central banks currently own.

How BofA Learned To "Stop Fighting Central Banks" And Love Shorting The Euro

In a new report that may come as music to the ears of Mario Draghi, who has been valiantly hoping to show the European economy recovering while keeping the EURUSD below the "red line" of 1.20, BofA FX strategist Athanasios Vamvakidis is out with a new note today urging currency traders to "stop fighting the central banks", in other words stop selling the USD and buying the EUR, and recommends shorting the EURUSD to 1.15 with a 1.21 stop loss.