Equity Markets

How Dumb Is The Fed?

"Nothing comes from nothing. Fake money produces fake prosperity. Take away the fake money… and the fake prosperity goes “poof,” too. Which is why the Fed will never, voluntarily, stop manipulating prices. It can’t let the markets return to “normal” price discovery. Because the markets are likely to discover prices a lot lower than Dow 20,000."

Global Shares Hit Another Record High In Lethargic Session Ahead Of US Data Deluge

It was another painfully low-volume overnight session, which however did not prevent global stocks from hitting another record highs, capping their best week in over two months as the dollar stayed close to nine-month lows following Yellen's dovish retreat in which she noted caution on persistently low inflation as odds of future rate hikes in 2017 and 2018 dropped.

Global Stocks Hit New All Time High After Dovish Yellen, Strong Chinese Trade Data

The hawkish tone and global bond tantrum unleashed by central bankers at the Sintra ECB forum two weeks ago is now a distant memory, and after Janet Yellen surprised markets with an unexpectedly dovish testimony yesterday, overnight global shares hit their fourth all-time high in less than a month as Septmeber and December rate hike odds tumbled, pushing the dollar to the lowest level since September 2016.

All Eyes On Yellen As Dollar Slumps On Trump Revelations, Stocks Rebound

The dollar was broadly weaker after dovish comments from Fed Governor Lael Brainard amid reverberations from reports of Donald Trump Jr.’s contact with a Russian lawyer; European equities rebounded with oil while S&P futures were 0.2% higher at 2,428 as traders eagerly await Janet Yellen’s Congressional testimony for further clues on the trajectory of monetary policy while the Bank of Canada is expected to hike rates later.

Fed Or Fed? Why One Trader Is Watching Wimbledon Closer Than The Market

Markets have had a quiet start to the week as we await Fed Chair Janet Yellen’s testimony to Congress and then the Fed’s Beige book. While both events have potential to cause some short-term volatility, there’s some historical evidence that investors might be better off watching the other Fed’s performance at Wimbledon.

Bond Selloff Returns As EM Fears Rise; Oil Slides; BOJ Does Not Intervene

U.S. index futures point slightly lower open. Asian shares rose while stocks in Europe fell as energy producers got caught in a downdraft in oil prices and reversed an earlier gain after Goldman unexpectedly warned that WTI could slide below $40 absent "show and awe" from OPEC.

US Equities: Unwinding The Yellen Leveraged Buyout

"Corporate credit spreads are the key indicator to watch, both in terms of the economy and the financial markets.  It’s a game of financial musical chairs. Ray Dalio, Janet Yellen and all of us are dancing.  When does the music stop?"

FANG Stocks Break Above Key Technical Level (Again)

Amid today's low volume, VIX-crushing, melt-up in equity markets, FANG stocks appear to be back in favor by the machines and has rallied back above its 50-day moving-average once again...

Global Stocks Rise Amid Strong Economic Data; Yen Drops To 2 Month Low As Oil Resumes Slide

In a quiet overnight session, S&P 500 futures are fractionally in the green (2,426, +0.2%) with European and Asian stocks as oil drops second day after an initial ramp higher amid speculation that LIbya and Nigeria may be asked to cap their production. Nasdaq 100 Index are again higher, following the biggest daily advance in more than a week, up 0.4% as of 6:20 a.m. in New York.