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MARKET RECAP BRIEF 10|05|14
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Currencies Equity Indices Fixed Income Macroeconomic Views Markets Old Articles Trade Ideas
MARKET RECAP 29|03|14
[edmc id=1641][/edmc] US This week has been full of economic data. The most relevant are the following: – Final GDP growth for 4th 2013 quarter q/q is 2,6%, still mainly driven by inventories. – Flash manufacturing PMI is at 55.5, a bit lower than expectations. However, this suggests a manufacturing Read more…
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MARKET RECAP 22|03|14
[edmc id=1589] [/edmc] US Another volatile week for the markets and for the U.S. ended on Friday amid concerns over Russia. As was expected, Crimea voted for annexation to Russia on Sunday 16th and this led to further sanctions to a group of Russian wealthy individuals that rattled Russia’s economy Read more…
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BSIC Market Recap 15|03|14
[edmc id=1554][/edmc] U.S. At the end of a week dominated primarily by uncertainty, markets mostly closed in negative territory. Signs of the week that’s past can be clearly seen in the VIX index which has been on a constant hike path since the beginning of 2014. The VIX is seen Read more…
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Ukraine: where are we now
Let’s give a short insight to what has happened in the past months in Ukraine. For the second time in six years Mr. Putin has led his troops across an internationally recognized border, and it does look like the situation won’t be changing soon. All of this happened as a Read more…
Equity Indices Fixed Income Macroeconomic Views Markets Old Articles Trade Ideas
BSIC Market Recap 22|02|14
[edmc id=1325][/edmc] BSIC MARKET RECAP 22/02/2014 U.S. Stocks in the U.S. edged lower on Friday after quite a good week data wise: producer and consumer price index coming in as forecasted but better than expected on a monthly basis, markit’s manufacturing PMI scoring the highest variation in nearly four years. Read more…
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BSIC Market Recap 08|12|13
[edmc id=998][/edmc] BSIC MARKETS DIVISION MACRO VIEW US This week’s US data releases showed improvement in the economic sentiment: GDP and labour market confirmed our view on US Economy. The second estimate of third-quarter GDP was revised from 2.8% to 3.6%. However, we must point out that positive GDP growth Read more…
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The Onion Paradox or Why Futures are Good for the Economy
History is full of surprises, even regarding financial history. For example do you know that the only futures contracts you cannot trade are the ones on onions? This is not a joke but a serious piece of law, the Onion Futures Act passed on august 1958. Indeed in 1955, two Read more…
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BSIC Market Recap 30|11|13
US This week has been really quiet for the US. Two main issues arise: the initial jobless claims surprise on the downside (actual 316K vs expected 330K), and the decline in the durable goods orders. (-2%) in October. With regard to the first data, although it is clearly good for Read more…
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Prepare for Tapering
There seems to be a consensus in the market that the Fed will gradually start tapering in the next few months (our guesses at BSIC is in December). Therefore it is time to understand what could happen to markets and get prepared. What could happen on the equity market in Read more…
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BSIC Market Recap 23|11|13
Panel 22|11|2013 US This week Bernanke surprised the markets outlining the chance of early tapering of QE (December meeting). For us this is quite surprising, as we still believe the US economy is not performing as well as it was believed this spring. Three main reasons have worsened our outlook Read more…
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What game is the FED playing?
What game is the Fed playing? The Fed’s unconventional monetary policy so far has been a mix of Market policy (or, better, Balance Sheet policy) and Mouth policy. Indeed, great part of the job has been done “manipulating” expectations to make agents reacted to Fed stimuli the way it meant Read more…
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Special Report: How did Turkey get out of the Financial Crisis?
Since 2001, Turkey has been subject to profound and remarkable economic and financial transformations that have led this emerging market to become the 17th largest economy in the world, with a nominal GDP of $800 billion. After the banking crisis that hit the country at the beginning of 2001, Turkey Read more…
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BSIC Markets Division Macro View: 16|11|13
Two main issues dominated the week, the Yellen speech in front of the senate and the BoE inflation report. Ms. Yellen’s tone was strongly dovish and we understand why. The US economy is not ready for a December tapering. Inflation is declining from 2% in July to 1.2% now and Read more…
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BSIC’S SPECIAL: Janet Yellen
Who is Janet Yellen, the woman everyone seems to be talking about these days? Why have we been hearing this name so often and what implications will it have on us? Well, we will presumably be hearing of Janet Yellen for quite a long time: last Wednesday President Obama nominated Read more…