Not to be Bitten by Same Dog Twice: Slovenia Update
Since the Greek private sector debt restructuring, many understood that Cyprus was vulnerable. The timing and policy response is that took most by surprise. The experience spurred investors to look...
View ArticleGreat Graphic: Euro and Yen Correlation with S&P 500
This Great Graphic was created on Bloomberg. The top chart is a graph of the rolling 60-day correlation between the euro and the S&P 500. The bottom chart does the same for the yen. As...
View Article"I Regard the [Wall Street] Moral Environment as Pathological."
I've posted many commentaries about widespread fraud in the financial system, ineffective regulation, moral hazard, and why, without reform, we are doomed to repeat this pattern. I'm not the only...
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Morgan Stanley's Trading Revenue Completely Cratered This Quarter
Morgan Stanley's first-quarter earnings show that not much has been done to heal the weakness in its fixed-income department. Revenue from trading bonds, commodities, and currencies fell 42 percent to...
View ArticleDaily Interest Rate Monitor – April 18
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View ArticleDaily ETF Roundup: IHF And XLK Slump On Lackluster Earnings
For a second day in a row, U.S. equities slumped as a slew of lackluster first quarter earnings reports hit the street. On the earnings front, Morgan Stanley (MS) reported disappointing bond-trading...
View ArticleIMF still keen on eurozone rate cut in face of weak growth
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View ArticleEmerging Markets: What Has Changed?
(from my colleague Ilan Solot) This is what has changed in the EM space, in our view: 1) Brazil is hiking, but reluctantly 2) Turkey is cutting, and resolutely 3) China will further relax the FX...
View ArticleYen Drops, Lifts Other Currencies
The weakness of the yen is the main development in the foreign exchange market. The dollar resurfaced about JPY99 for the first time this week. The ostensibly driver is the realization that, as we...
View ArticleBattle For Inflows: Brazil (EWZ) vs. Mexico (EWW) vs. Chile (ECH)
As the U.S. market slowly walks the road to recovery, many investors who avoided the short-term effects of the recession are now left looking for a long-term solution for slow American economic growth....
View ArticleInvesting: Should the Past be a guide to the Future?
As regular readers of Stockopedia will know, we are big believers in learning from data and statistical techniques what investing strategies have worked when. This kind of "quant" thinking is embedded...
View ArticleHedge Fund ETFs Head-To-Head: QAI vs. MCRO
While passive, index-based funds continue to reign supreme in terms of assets under management, investors have also started to tap into alternative asset classes available within the ETF universe in...
View ArticleLaunch Frenzy: iShares, FlexShares and Credit Suisse All Bring Funds To Market
The dramatic drop in gold prices and less than inspiring earnings reports cast a shadow across the market this week, but the ETF space saw a huge expansion in funds. iShares alone has rolled out nine...
View ArticleGreat Graphic: VIX and the Yen
Following the post yesterday that showed that the yen's inverse correlation with the S&P had increased to its highest level in a year, some readers pointed out a piece in the Financial Times that...
View ArticleXi Jinping Is Determined To Pull Off His Own 'Asia Pivot' To India
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View ArticleKOTOK: Gold Has Just One Of The Three Characteristics Of A Functional Currency
Gold made the headlines with a rapid plunge, some possible basing, and then another plunge. Let’s talk about gold for a minute.Central bankers prefer to have the public, the investor class, and the...
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It's Amazing How Much Indonesia Has Changed In The Last 18 Months
April 19, 2013 Jakarta, IndonesiaWhoever said “it’s a small world” never flew across the Pacific.The flight from Santiago to Sydney is a mind-numbing 14 hours. And then it’s another 8 to Jakarta. Yet...
View ArticleIs Sweden Concerned about the Krona?
The Swedish krona is somewhat firmer today but it is the biggest lower among the major currencies this week. It has lost about 2.3% against the dollar and 2.1% against the euro. According to...
View Article12 Signs The Economy Is Slowing Down
To gauge the current state of the stock market, look no further than the economy. As far as the market is concerned, everything else is random noise. Recent data releases make it quite clear that the...
View ArticleWhy Macroeconomics Doesn't Work Very Well
I don't think it's politics (mostly). I don't think it's the culture of consensus and hierarchy. I don't think it's too much math or too little math. I don't think it's the misplaced assumptions of...
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