Back to Reality …
Hey There Income Hunter, It didn’t take long on Monday, after the markets opened higher, for another record-worst economic number to again douse the flames of a hot relief rally. This time it was the National Association of Home Builders report on the second worst drop in the history of its housing index. […]
Data That Matters This Week
Hey There Income Hunter, Green across the board last week … Stocks were boosted on Friday by positive CitiGroup earnings and lower inflation expectations reported in the University of Michigan survey. This week, the earnings calendar gets serious with over 320 companies reporting. Today, I’ll lay out the important real-time data that you need to […]
Time to Short the Dollar?
Hey There Income Hunter, A couple of months ago, Janet Yellen made a statement that the dollar index (DXY) could reach 110. That’s not really much of a call when you control the currency’s value, but we’re almost there. The banks, after all, act on the Fed’s behalf to create hundreds of billions of gold […]
JP Morgan Hammered on Bad Earnings
Hey There Income Hunter, During a live event I hosted on Wednesday night I said get ready for very bad Q2 earnings … Well, JP Morgan made me look good yesterday by reporting shockingly bad results for them. Banks are getting hit from all sides. Twenty-five percent of assets held on banks […]
Market Shrugs Off Huge CPI. Here’s Why.
Hey There Income Hunter, I have been saying that I think recession has become more important than inflation, and I think yesterday’s market reaction proves that. Now, the Fed has its final inflation report before its July 27 meeting and it certainly was a doozy (a 40-year high of 9.1%)… My question is what are […]
CPI Big Upside Surprise
Hey There Income Hunter, Expectations for today’s CPI report were quite high with an average forecast of 8.8%, but the numbers were even higher across the board … The headline CPI year-over-year is the most important since that includes the most important items for consumers (food & energy) – and it was a […]
QT Is in Motion … But for How Long?
Hey There Income Hunter, Well, well, well. The numbers show that the Fed is already slowing removing liquidity from the system … It’s a very slight reduction so far, but it has begun. Is the Fed trying to drag its heels to get a look at more data? No doubt […]
JPM Accused of Commodities Fraud
I initially started talking about JPMorgan’s legal issues after the firm agreed to pay almost $1 billion dollars to resolve US claims of market manipulation in September2019. Back then, it was the largest ever sanction against a bank for price manipulation. JPM, you see, admitted to manipulating precious metal and US Treasury prices. Well, now […]
The Calm Before the Storm
Hey There Income Hunter, The employment report was a real snoozer yesterday, with the headline number a bit higher but revisions a bit weaker. I have flagged next week as the big mover this month and I don’t think it will disappoint. In the past couple of weeks we have gotten a bear market rally […]
China Gooses Commodities with Stimulus
Hey There Income Hunter, China’s ministry of finance announced yesterday morning that it is considering allowing local governments to sell 1.5 trillion yuan ($220bn) of Chinese bonds in the second half of 2022. This would be an acceleration of infrastructure funding used to shore up the country’s economy, which has been beaten up by the […]