Goldman Slashes Q3 GDP By 30% Due To Hurricane Disaster
Yesterday, when commenting on the impact of Hurricanes Harvey and Irma, we noted that even before the two devastating storms were set to punish Texas, Florida and the broader economy, erasing at least 0.4% GDP from Q3 GDP according to BofA and costing hundreds of billions in damages (contrary to the best broken window fallacy, the lost invested […]
Forces Of Movement In FX: The Week Ahead
The US dollar’s selloff accelerated. It has been selling off since the start of the year. The first phase of the decline at the start of the year seemed similar to what happened at the start of 2016. Following the Fed’s first-rate hike at the end of 2015, the dollar weakened in the first several months […]
Markets Hit A Critical Juncture
Stocks end week at a critical juncture. In tonight’s video market update we take a look at all of the critical areas of the market coming at a crossroad. What stocks or sectors are going to hold this market together?
Forex Strength And Comparison Week 37 / 2017
In the Currency Strength table, the CAD was again the strongest currency while the USD was the weakest. There were some significant changes last week with the CHF gaining 3 points, the USD losing 4 points and the AUD losing 2 points. The other currencies remained around the same level of last week with a maximum change in the […]
Dollar Losses Accelerate, Adjustment Not Over
The US dollar had one of its worst weeks of the year, as its interest rate support eroded. Despite prospects for a further upward revision in Q2 US GDP above 3.0% and continued above trend growth, the market continues to downgrade the chances of another rate hike this year. The CME’s model suggests the odds of a hike […]
Gold And The Coming Collapse: Are We Close To A Major Monetary Event?
It really should be clear that a major international banking crisis is inevitable, and likely to occur fairly soon. Due to the extreme debt levels, many banks are close to that point of failure. An event like a stock market crash is likely to push many banks to that point of failure, since the pressure […]
Disaster Capitalism
This morning, we posted excerpts from Goldman’s latest projections on the likely economic impact from Hurricane Harvey. In a response to the tweet that accompanied that post, Notes From Disgracedland’s Bjarne Knausgaard (who regular readers will recall pens some of the best political/economic color around) wrote the following: As Irma Hits, A ‘Disastrous’ Econ Retrospective https://t.co/u9UH9753GN pic.twitter.com/U1TJSMKTx6 — Walter White (@heisenbergrpt) […]
Debt Ceiling Eliminated?
There was yet another twist in the debt ceiling debate as President Trump’s meeting with Nancy Pelosi and Chuck Schumer has led to an additional agreement. President Trump wants to eliminate the debt ceiling completely. This has been a talking point the progressives have used for years so it’s not surprising to see the Democratic […]
Emerging Markets: Preview For The Week Of Sept. 11
EM FX ended the week on a mixed note, but still capped off a strong week overall.US data this week could challenge the market’s dovish take on the Fed. For now, though, the global liquidity outlook still seems to favor further gains in EM. China should report August new loan and money supply data this […]
The Oil And Water Business
It’s seldom appreciated outside the energy industry, but drilling for oil, natural gas and natural gas liquids (NGLs) involves handling far more water than hydrocarbons. This isn’t just because production often involves pumping water into a well. Water is usually present naturally, and comes up with the oil and gas that is produced. Ideally in […]
