Yield Curve

Banks Tumble After BofA, JPM Warn Revenue Will Be Down As Much As 15%

The banking sector is sliding after JPM CFO Marianne Lake warned that contrary to expectations for an ongoing rebound in revenue and profits, the bank's second quarter revenue has been 15% lower from a year ago. And while she said that US economic figures are "solid, not stellar", she blamed the same thing that has been the nightmare of daytraders everywhere: collapsing volatility. 

Are Stock Traders Actually More Pessimistic Than Bond Traders?

"As a former equity guy, it pains me to say that when the bond and equity markets are at odds, it usually pays to go with the bond guys. Let’s face it, the bond guys are better at math, often smarter, and less likely to fall for a story. Therefore I am a little at a loss regarding this next chart..."

Fink Fears Bond Curve Signals, Cooperman Warn Stocks Ahead Of Fundamentals

US equity markets pushed back into the green this morning just as two heavyweight investors suggested all is not well in the land of exuberance. Blackrocks' Larry Fink warned the equity market is not appreciating the message from the Treasury yield curve (and sees lower growth than Trump hopes for), while Omega's Cooperman warned that markets are fully priced, and ahead of fundamentals.

On Gold, Dollars, & Bitcoin

Given the highly leveraged state of the current monetary regime, the most dominant variable for future wealth maintenance and creation, in our view, may not be asset selection but rather money selection. Something to think about...

What Is Causing China's Yield Curves To Invert: UBS Answers

The inverted curve reflects a contradiction between market expectations on policies and economic fundamentals. On one hand, the slowdown of economic growth may prevent the back end of the yield curve from further going up. On the other hand, financial institutions' funding costs have kept rising but the financing costs for the real economy measured by loan rates have not risen that much.

FX Week Ahead: Highlights Include FOMC, BOC And OPEC

Politics dominate yet again, as focus on Comey testimony set to determine Trump and USD fate.  Fed minutes and OPEC meeting on the same day with the BoC thrown in!  EUR on the front foot and leading the pack as growth and inflation stats heighten tapering expectations, greenback flagging.

Global Markets Rebound To End Volatile Week, As Trump Rout Fades

Two days after the biggest rout in US stocks in 8 months, and one day after Brazil's stock market was halted due to a circuit breaker, wiping out out 8.8% of its market cap, traders are eager to put it all in the rearview mirror and in a quiet session on the last day of the week, S&P futures are set for a green open, up 0.2%, in line with Asian and European markets, all looking to close the week on a positive note.