(Adds foreign holdings of T-bills, comments on inflation and fuel subsidies, context)By Andrew TorchiaDUBAI, Feb 10 (Reuters) - Egypt is considering plans for a Eurobond issue but wants to see more stability in global financial markets before it goes ahead, Egyptian finance minister Amr El Garhy said on Saturday."We want to find the right time and we hope to do this in the next few days,&quo...Read More
VERONA, Feb 10 (Reuters) - Italian lenders set to head two new banking groups being created by merging hundreds of small cooperative banks (BCCs) must be ready to strengthen their capital if needed, the central bank's governor said on Saturday.Italy is forcing its tiny BCC banks to merge and two new groups being formed will undergo an asset check-up this year before moving under the European Centr...Read More
VERONA, Italy, Feb 10 (Reuters) - The European Central Bank is finding it difficult to raise inflation expectations but it will patiently pursue its objective of bringing price increases back up towards 2 percent, Bank of Italy Governor Ignazio Visco said on Saturday."The risk of inflation has been averted but it is proving difficult to push up inflation expectations," Visco, who sits on...Read More
KIGALI, Feb 10 (Reuters) - Rwanda's year-on-year inflation increased to 1.3 percent in January, the statistics office said on Saturday, up from 0.7 percent in December.The monthly inflation increase was 0.2 percent. The increase was mostly due to non-food items like housing, fuels, electricity and gas, the National Institute of Statistics of Rwanda said.(reporting by Clement Uwiringiyimana; editin...Read More
DUBAI, Feb 10 (Reuters) - Egypt is considering plans for a Eurobond issue but wants to see more stability in global financial markets before it goes ahead, Egyptian finance minister Amr El-Garhy said on Saturday."We want to find the right time and we hope to do this in the next few days," Garhy told Reuters on the sidelines of a financial conference in Dubai, when asked if this week's sw...Read More
(Corrects 3rd paragraph to remove extraneous word)BEIJING, Feb 10 (Reuters) - Securities regulators in several provinces of China are investigating the use of shares as collateral for financing activities to curb potential risks, the state-owned Securities Times newspaper reported on Saturday.The provincial regulators have launched an "intensive investigation" into stock-backed borrowin...Read More
Goldman's Currie Says Commodities Worked as Advertised in Equity SelloffIt’s fair to ask why havens haven’t rallied as shares slumped. Gold, for example, is down this week and exchange-traded funds backed by the metal saw heavy selling, with holdings declining the most since July.One possible reason is that ETF investors might be selling gold to offset their stock-market losses, acco...Read More
Adam HamiltonArchivesFeb 09, 2018 The unnaturally-tranquil stock markets suddenly plunged over this past week. Volatility skyrocketed out of the blue and shattered years of artificial calm conjured by extreme central-bank distortions. This was a huge shock to the legions of hyper-complacent traders, who are realizing stocks don't rally forever. With stock selling unleashed again, herd psychology w...Read More
Friday advance pares S&P 500's weekly plunge to 5.2 percentInterest-rate jitters could return with U.S. inflation reportLiz Ann Sonders of Charles Schwab says the pickup in economic growth contributed to the market selloff.U.S. equities ended their worst week in two years on a positive note, but rate-hike fears that pushed markets into a correction remain as investors await American inflation figu...Read More
Here are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average's plunge on Thursday of 1,033 points was its second-worst point drop in history. The S&P 500 has lost more than $2 trillion in market cap from its high.The energy sector was under pressure after oil prices fell for a sixth straight session. Wall Street Overview The Dow Jones Industrial Aver...Read More
U.S. stocks could open firmly higher Friday, according to early futures prices, but with government bond yields and volatility gauges still elevated, investors in Europe and Asia remained cautious the echo from last night's 1,000 point plunge for the Dow Jones Industrial Average echoed across global markets. Early indications from U.S. futures prices suggest a positive open on Wall Street, altho...Read More
Markets were up and down like a yo-yo today, but the Dow closed today up 330 points.Since last Thursday we'd seen a triple meltdown in bonds, stocks and cryptocurrencies. What's amazing is that there's no consensus on why these three markets were all crashing at once.Using my unique Project Prophesy predictive analytic methods, I can offer investors a clear view of why markets have been falling, a...Read More
The lion has lost its roar.Stocks have officially suffered a "correction."After yesterday's soaking, both the Dow Jones and S&P fell 10% from their recent highs.And like a moony love affair gone suddenly wrong... last month's euphoria has succumbed to this week's disillusionment."Disillusionment" seems just the right word, too.This week's events have left many investors disillusioned…Van...Read More
It was another rough day for the markets.The major averages fell off a cliff yesterday afternoon to finish the trading day at the lows. The Dow Jones Industrial Average coughed up another 1,000 points to post a 4% drop. The S&P 500 and Nasdaq Composite weren't far behind.Aside from a couple positive earnings surprises, few stocks were safe from Thursday's drop. This morning, the selling is con...Read More
As the dust settles from Monday’s flash crash, we’re starting to get a better picture of what actually happened.It turns out the carnage can be traced back to a kind of financial “weapon of mass destruction” - or WMD. Traders regularly use these instruments to siphon cash out of the market. But one wrong move, and BOOM! - as we saw firsthand earlier in the week.So today, we...Read More
From the technical point of view, the VanEck Vectors Junior Gold Miners ETF (GDXJ) is primed for a big move.The share price of GDXJ is strongly correlated with the gold price.If the support at $30 is broken, things may get ugly.If the $30 support level holds and the broader stock market stabilizes, the triangle trading pattern may be broken to the upside.The VanEck Vectors Junior Gold Miners ETF (...Read More
US Stock MarketWe will update global markets as well as the macro situation in NFTRH 486, but for this article I'd like to focus on the US stock market.Let's cut to the chase; the markets have finally fallen in line for those of us who manage markets, as opposed to dollar cost average into them through a money manager and then go about life, blissfully unaware. Much like during the 2015-2016 perio...Read More
Our proprietary cycle indicator is down.To public readers of our updates, our cycle indicator is one of the most effective timing tool for traders and investors. It is not perfect, because periodically the market can be more volatile and can result in short term whipsaws. But overall, the cycle indicator provides us with a clear direction how we should be speculating.InvestorsDuring a major buy si...Read More
- Hussman warns 'the S&P500 to lose approximately two-thirds of its value over the completion of this cycle'- 'The market has lost value, even since 2009, when overvalued, overbought, over-bullish conditions were joined by divergent internals'- Believes the market is going to learn lessons about the crash 'the hard way'In an almost prophetic blog post from John Hussman last week, we are warned a...Read More
Summary And Conclusion30% to 45% assuming consumers remain rational and assuming commercial banks are able to cope with a possible increase in their levels of non-performing loans.***********The era of Artificial Intelligence will facilitate easier and lower cost ways of conducting existing activities but will not necessarily add to conventionally measured Gross Domestic Product. (GDP)Flowing from...Read More