On normal market days, the (positive) correlation between gold and silver is quite high. Looking at the chart below, it looks like silver gives chase to the movements in gold and follows them quite closely. One thing we can observe though is that downside changes in gold reflect more heavily Read more…
US It has been a busy week for US markets, filled with plenty of data and the outcome of the midterms on November 4th. The result of these was a Republican takeover of the Senate, and in all the expression of dissatisfaction or anger at Mr Obama’s performance. The S&P Read more…
US After turmoil in the recent weeks US equities are back to all-time highs. Very solid data on consumer confidence and a Q3 GDP growth rate print of 3.5%, above a lower forecast of 3%, propelled the S&P 500 to 2018.05. Not even the completion of tapering on Wednesday stopped Read more…
US Last week’s losses were followed by some more, as the S&P 500 lost 0.75% to close at 1967.9 and the NASDAQ Composite and DJIA went down 0.81% and 0.6% respectively from their values at the end of last week. Stocks took a beating on Tuesday and Wednesday especially as Read more…
US Equity markets in the US lost ground this week, ending short of the fresh highs touched in the previous one. Macroeconomic data came in mixed, as a solid manufacturing PMI and positive data on new home sales on Tuesday and Wednesday were confounded by disappointing durable goods orders and Read more…
US US equities enjoyed significant gains in the week just past us after trading sideways for most of the summer. The S&P 500 was 1.25% above its closing value last Friday, closing now firmly above the 2,000 level at 2,010. The index clocked in its largest gains mid-week, on the Read more…
[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…
[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…
[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…
[edmc id=1492][/edmc] US Positive data for the US economy has come out this week. Manufacturing PMI of February (53.2) showed a significant improvement with respect to January (51.3) and beat expectations of 52.0. The most interesting indicators, however, concern labour force. On February 175k new jobs were created in the Read more…
When we analysed luxury stocks, we stressed that the industry has faced a downturn, probably due to a kind of sector rotation. The same phenomenon has affected European banks and utilities in the opposite way. In this article, we focus on banks, proposing some ideas on how to trade them. Read more…
[edmc id=1406][/edmc] US The economy grew at a slower pace than it was first estimated. Indeed, the fourth quarter GDP growth estimate was revised down to 2.4%, in contrast with the initial estimation of 3.2%. This revision was attributed to lower consumer spending growth. As this data adds to a Read more…
[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…
The investment banking industry is expected to announce lacklustre returns for 2013, despite an improving global economy, soaring asset prices and abundant liquidity. According to Deutsche Bank, the overall revenue pool is forecasted to be down by 6% (FICC down by 18%, Equity up by 28% mostly driven by equity Read more…
Cinda Market Cap (as of 22/11/13): N/A News surfaced on Thursday, November 21st that Chinese bad bank Cinda is finalizing the details of its long awaited Hong Kong IPO, which is expected to bring in up to HK$19bn (US$2.45bn) in fresh equity financing. The company will offer around 5bn shares Read more…