Author Archive: Jeremy Parkinson
Helpful Thoughts About Coal
“Coal is a dead man walking” -Kevin Parker (Deutsche Bank Executive) Well, I don’t know about that, Kevin. On a billboard greeting travellers at the airport in Ranchi (India), the capital of the Indian state of Jharkhand, ‘Welcome to the Land of Coal’ is present in block letters, and in case you are seriously […]
Morning Call For November 19, 2014
OVERNIGHT MARKETS AND NEWS December E-mini S&Ps (ESZ14 +0.04%) this morning are down -0.05% ahead of the minutes of the Oct 28-29 FOMC meeting, while European stocks are up +0.24% at a 1-1/2 week high as health-care stocks gained on speculation of increased M&A activity. Yields on European government bonds rose after ECB policy maker Knot said he was […]
Traders Report November 19th: Australia
Australian shares have fallen for the third day in a row. The technicals show that the index fell straight through the support level of 5420 and closed at its low today of 5352. This level was the support low seen in April to June. If the price falls through this price level then it is […]
A Conundrum For Treasury Yields
New York Fed President William Dudley is inclined to ignore the recent drop in inflation forecasts via the Treasury market. In a speech last week, he explained that “in assessing inflation expectations, I currently put more weight on survey-based measures of inflation expectations as opposed to market-based measures.” The distinction is more than academic. “Survey-based measures have […]
These Divergences Haven’t Taken Place Since The 2007 Highs
Click on picture to enlarge Looking back at 2006/2007, several key market indicators started diverging from the S&P 500, before the large decline in 2007/2008 took place. The above chart compares the Staples/Discretionary and Russell 2000/SPY ratios against the S&P 500 over the past 5-years. The blue shaded areas reflects that both ratios started falling […]
EC The No-Lose Line
How long can you hold a Treasury Note or Bond, and not suffer a loss in total return terms, if yields rise from where they are today? Maybe the answer will surprise you, and maybe not — it depends on how fixed-income literate you are. Okay, here’s the scenario: I start off with the current […]
21 Facts That Prove That Dependence On The Government Is Out Of Control In America
If you could stay home and watch television, play video games and hang out with your friends all day at government expense, would you do it? Of course most Americans that collect money from the government each month are not abusing the system. Many truly are incapable of taking care of themselves, and others are […]
Uber Executive Suggested Company Hire Team To Dig Up Dirt On Journalists
First there was Grubergate. Now we have Ubergate. Reports of questionable behavior emanating from the executive suite at ridesharing company Uber are nothing new. My antennae first shot straight upward when I read that the company had hired one of Barack Obama’s chief political strategists, David Plouffe, as a senior vice president of policy and strategy. The Washington Post covered […]
Yen And Dollar-Bloc Sink, While Sterling Ticks Up
The run on the yen continues. The US dollar and euro are at new multi-year highs against the yen. The BOJ confirmed its JPY80 trillion monetary base target unexpectedly adopted at the end of last month. Last month’s seemingly last minute decision was based on a very un-Japanese 5-4 vote. Today, three of the dissents accepted […]
Class Action Opt-Outs And The Role Of Institutional Investor Plaintiffs
During a May 2014 trip to London, I had the pleasure of meeting with various attorneys who do work with institutional investors such as pension funds. While I did not have a chance to convene with Attorney David Seidel, our guest interviewee for this blog post, I did meet with his colleague, senior attorney and […]
