recovery

UBS Makes A Striking Discovery: Ex-Energy, US GDP Growth Is The Slowest Since 2010

According to UBS, global growth acceleration in 2017 was largely a commodity bounce, and nowhere more so perhaps than in the US which was 20% of the global growth improvement but, again entirely energy investment. Once you strip that out 'underlying' growth is only 1% or so (ex inventories) - the slowest since 2010! 

Key Events In The Coming Week: Taxes, Inflation, Yellen, Draghi, Kuroda And Brexit

This week’s economic calendar features several key data releases and Fedspeak. The main data release in US include: CPI inflation, retail sales, industrial production, housing data and monthly budget statement.Away from the data the ECB’s Draghi, Fed’s Yellen, BoE’s Carney and BoJ’s Kuroda are all scheduled to participate on a policy panel hosted by the ECB.

High Prices And Zombie Housing

This strange brew of limited sale inventory, rising prices and yet three months of vacant inventory being ransacked by squatters is not how markets work, unless manipulated by government.

FX Weekly Preview: Is The USD Correction Done Yet?

After a number of weeks of painfully tight ranges, there is little on the horizon which looks potent enough to warrant a break out.  Has the apathy in global stocks spread into FX? It looks like it, especially when looking at the carry trade. 

Goldman's Top Strategist Reveals The Two Biggest Risks To The Market Today

"We’ve also seen a growing allocation of retail and institutional money into “premium chasing” quant strategies, including, for example, ETFs that sell equity vol. I think many of these developments are positive, but the associated market structure remains largely untested. So I would not rule out the risk of a glitch that triggers, say, a 5-10% correction."