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=1778][/edmc] US Equities closed at record highs in the week just past us; the S&P 500 in particular closed above 1,900 for the first time, gaining 1.29 percentage points from the week’s open. Such good performance, which was also echoed by the Nasdaq Composite (which retraced some of its Read more…
Seven years after the global financial crisis, collateralized debt obligations and mortgage backed securities are back and in good health. According to the latest data, sales of both CLOs (CDOs with loan collaterals) and CMBS (Commercial mortgage-backed securities, the pools on which CMOs are based) are expected to exceed pre-2007 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…
[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…
The Emerging Markets boom has been driven mostly by easy money and commodity exports. As the Federal Reserve continues to retreat its massive bond-buying programme, and China shows signs of a slowdown, Emerging Markets are taking a hit. We’ve seen their currencies depreciate dramatically and their stock markets plunge. The 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…
Since the last time we wrote, many things have happened on the markets. The Fed has finally turned on its tapering programme in mid-December and said it would unwind its asset purchasing by another 10 billion in February. This long expected event has provoked what news broadcasters all over the Read more…
[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…
Panel_29|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 Read more…