Earnings season is here, ladies and gentlemen, and with it comes heightened volatility for many stocks as investors anticipate, and react to, quarterly reports. What can savvy traders do to capitalize on volatility spikes? Today, we will break down the long strangle options strategy, and how it can help investors profit from surging volatility without committing to a bullish or bearish bias.A long...Read More
* Strong U.S. wage growth boosts inflation expectations* Euro zone yields follow U.S. Treasury yields higher* German Bund yields highest since Sep 2015 (Updates prices, adds Viceroy)By Fanny PotkinFeb 2 (Reuters) - Euro zone bond yields extended their rise on Friday after U.S. payroll data indicated that annual wage growth in the world's biggest economy was the strongest since 2009. U.S. job growt...Read More
OTTAWA, Feb 2 (Reuters) - Canadian job growth in 2017 was revised slightly higher, data from Statistics Canada showed on Friday, confirming a stellar year for the country's labor market, though economists expect the rampant pace of employment will soon start to moderate.From December 2016 to December 2017, the economy created 427,300 jobs on a seasonally-adjusted basis, the annual revision showed....Read More
JANUARY 26, 2018Dear Katusa Research reader,Vancouver is still buzzing from the 2018 Vancouver Resource Investment conference.The event was an incredible success, with over 8,000 registered attendees, packed workshops, and lots of great investment ideas. Many presentations weren’t just “standing room only,” but also had people peeking through curtains from the outside. If you did...Read More
(Updates with further ARDAL comment)BRATISLAVA, Feb 2 (Reuters) - Slovakia will offer its new 30-year bond, the longest-dated paper it has, for the first time in a domestic auction in February, looking to lock in low yields before they are gone.Euro zone member Slovakia has enjoyed a comfortable borrowing position with a strong-growing economy helping state finances and leading to lower than expe...Read More
DUBLIN, Feb 2 (Reuters) - Ireland collected 4.9 percent more tax in January than a year ago, driven by strong growth in value-added tax receipts submitted for the busiest shopping months of November and December, the finance ministry said on Friday.Ireland's economy has been the best performing in the European Union since 2014, swelling the tax take to a record level last year even as the governme...Read More
MOSCOW, Feb 2 (Reuters) - Russian government bonds, known as OFZs, rallied on Friday following a U.S. Treasury report cited by Bloomberg that warned about the implications of sanctions on holding Russian debt.Investors in OFZ bonds, popular among foreign market players thanks to their lucrative yields, have been on alert about new possible sanctions recently, buying into Russian debt pre-emptively...Read More
ACCRA, Feb 2 (Reuters) - The Bank of Ghana said the yield on its weekly 91-day bill eased to 13.32 percent at an auction on Friday from 13.35 percent at the last such sale, on Jan 26.The bank said it had accepted all 157.8 million cedis ($35.16 million) worth of bids tendered for the bills, which will be issued on Monday.Ghana's treasury bill yields have fallen to around 13 percent in the past six...Read More
TBILISI, Feb 2 (Reuters) - Consumer prices in Georgia rose 0.6 percent in January in month-on-month terms after rising 0.8 percent in December, the State Statistics Service said on Friday.Annual inflation in January stood at 4.3 percent, down from 6.7 percent in the preceding month, data from the agency showed. CONSUMER PRICE INDEXJan 18Dec 17 Jan 17Month/month pct change+0.6+0.8+2.9Year/year pct...Read More
(Updates with final IPO price)MADRID, Feb 2 (Reuters) - Spanish property developer Metrovacesa on Friday set the final price for its stock market listing at 16.5 euros per share, the bottom end of its indicative range, valuing the company at 2.5 billion euros ($3.11 billion), down from a previous estimate of up to 2.95 billion euros. The pricing at the bottom end of the range and a one day delay...Read More
(Kitco News) - Forthe first time this year, there is a sharp divergence between Wall Street andMain Street in the weekly Kitco News gold survey. Wall Street Bullish Bearish Neutral VSMain Street Bullish Bearish Neutral Themajority of traders and analysts who make up the Wall Street poll look for theyellow metal to remain on the defensive next week, while Kitco readers who tak...Read More
WASHINGTON, Feb 2 (Reuters) - Federal Reserve Chair Janet Yellen will join the Brookings Institution, a Washington think tank, on Monday after stepping down from the U.S. central bank."I'm delighted to be joining," Yellen said, according to a statement announcing her position that was issued on Friday by the think tank. Yellen spearheaded the Fed's gradual move away from the near-zero in...Read More
It's been a rough ride for junk bonds since the European Central Bank (ECB) announced in late October its intent to taper bond purchases. That pain is evident in a daily chart of the iShares iBoxx $ High Yield Corporate Bond ETF (NYSEARCA:HYG), which sliced cleanly through formerly solid support at its 200-day moving average in November.We see a potentially significant bearish tell from the action...Read More
Subscribers to our Weekly Options Countdown services just doubled their money on weekly 2/2 Alcoa Corp (NYSE:AA) 55.50-strike puts. We recommended these positions just this past Friday, meaning options traders realized a profit of 100% in just a matter of days. Let's look back at what attracted us to AA in the first place, and how the short trade unfolded.In our recommendation on Friday, we noted...Read More
(Update prices)JOHANNESBURG, Feb 2 (Reuters) - South Africa's main stock index ended lower on Friday, wrapping up its worst week in two years as an extended bull run loses steam, while the rand dropped two percent after strong U.S. jobs data lifted the dollar. The blue-chip JSE Top-40 index fell 1 percent to 51,908 points, bringing losses this week to 4.8 percent - the biggest weekly decline sinc...Read More
* U.S. 10-year yield hits 4-year peak, 2-year highest since 2008* Year-over-year U.S. wage growth strongest since 2009* U.S. 2-year, 10-year part of yield curve steepest since November (Updates market action, adds quote)By Richard LeongNEW YORK, Feb 2 (Reuters) - A strong payrolls report on Friday raised concerns the Federal Reserve might hasten to increase interest rates to stem inflation, compou...Read More
Deckers Outdoor Corp (NYSE:DECK) is up 5.7% to trade at $92.26 this morning, after the UGG maker delivered fiscal third-quarter earnings and sales that beat expectations. The company cited tax reform as a contributor to the earnings beat. As a result, no fewer than seven brokerage firms chimed in with price-target hikes, including Canaccord Genuity's hike to $110 -- a 19% premium to the stock's c...Read More
Sprint Corp (NYSE:S) is set to end the week on a high note, with the stock up 4.4% to trade at $5.32 on the heels of a well-received earnings report. The wireless carrier reported fiscal third-quarter earnings of $7.16 billion, or $1.79 per share, on net operating revenue of $8.24 billion. On an adjusted basis, Sprint earned 3 cents per share. By contrast, analysts were bracing for a quarterly los...Read More
* U.S. dollar rises after jobs data* Euro falls against greenback* Yen inversely tracks with U.S. bond yields (New throughout; updates prices, market activity, changes byline, dateline, previously LONDON)By Stephanie KellyNEW YORK, Feb 2 (Reuters) - The U.S. dollar rose on Friday against a number of currencies including the Japanese yen and the euro after strong national jobs data, but investors w...Read More
(Kitco News) - Gold and silver prices are solidly lower and have hit newdaily lows in late-morning trading Friday. An upbeat U.S. jobs report hasrallied the U.S. dollar index, which has in turn pressured the entire rawcommodity sector, including the precious metals markets. However, the U.S.stock market is also in a significant sell-off late this week, despite theupbeat U.S.economic news (The sto...Read More