Edit

Great Graphic: The ETF Industry

June 19, 2014
This Great Graphic comes from Matt Stone at Kurtosys.com. It draws on data from the Investment Company Institute.  It shows the evolution of the ETF industry, which the US dominates, accounting for a little more than 70% of the  ETF assets.  The ETF space has grown rapidly over the past decade or so and now there are ETFS for nearly every entire U…
Great Graphic: The ETF Industry Great Graphic:  The ETF Industry Reviewed by Marc Chandler on June 19, 2014 Rating: 5
Edit

What the Fed Did and Did Not Do

June 18, 2014
The main take away from the FOMC meeting is that the Federal Reserve is not the Bank of England. Hawkish comments by top BOE officials--not just Governor Carney--are encouraging investors to bring forward the beginning of a normalization of monetary policy and a tightening cycle, no matter how gradual. In contrast, the Federal Reserve stuck to i…
What the Fed Did and Did Not Do What the Fed Did and Did Not Do Reviewed by Marc Chandler on June 18, 2014 Rating: 5
Edit

Great Graphic: US M&A Boom

June 18, 2014
The US is experiencing its biggest M&A boom since the Financial Crisis.  This Great Graphic was posted on CNN by Jesse Solomon.   It shows the dollar value of USA mergers and acquisitions announced from the start of this year through mid-June and the annual figures for the earlier years

There are several motivations behind the M&A wave.  M…
Great Graphic: US M&A Boom Great Graphic:  US M&A Boom Reviewed by Marc Chandler on June 18, 2014 Rating: 5
Edit

On the Way to the FOMC Meeting

June 18, 2014
The main focus, today, is on the FOMC meeting; the statement, forecasts, and Yellen’s press conference. Since the April meeting, nearly every inflation measure, core PCE, CPI, PPI and the price components of the ISMs have ticked up. The slightly stronger than expected CPI report for May that was released yesterday suggests the next (May) core P…
On the Way to the FOMC Meeting On the Way to the FOMC Meeting Reviewed by Marc Chandler on June 18, 2014 Rating: 5
Edit

Four Dimensions of the FOMC Meeting

June 17, 2014
The FOMC meeting is the week's highlight even though policy outcome seems a foregone conclusion. It will continue with the tapering course that Bernanke put on the Fed on before he left. However, there are more moving parts than usual, and it is worth reviewing.
Essentially, there are four elements of the FOMC meeting: composition, statemen…
Four Dimensions of the FOMC Meeting Four Dimensions of the FOMC Meeting Reviewed by Marc Chandler on June 17, 2014 Rating: 5
Edit

The Pound Remains Sterling

June 17, 2014
Softer than expected UK inflation is threatening to halt sterling's advancing streak to five sessions. Consumer prices slipped 0.1% in May, while the consensus expected an increase of 0.1-0.2%. The year-over-year rate of 1.5% represents a four year low.
The market responded in the expected way, pushing short-sterling interest rate futures h…
The Pound Remains Sterling The Pound Remains Sterling Reviewed by Marc Chandler on June 17, 2014 Rating: 5
Edit

Three Developments in China

June 16, 2014
After depreciating earlier this year, China's yuan now appears to be carving out a trading range.  The dollar has been confined to roughly CNY6.20-CNY6.2650 since early April. 
Recent data lends credence to our view that the Chinese economy was stabilizing with annualized growth a little above 7%.  Although officials have clearly indicated a re…
Three Developments in China Three Developments in China Reviewed by Marc Chandler on June 16, 2014 Rating: 5
Edit

Emerging Markets: Preview of the Week Ahead

June 16, 2014
(from my colleagues, Dr. Win Thin and Ilan Solot)
Between the World Cup, the approaching summer, rising geopolitical risk, and a generally weaker tone for risky assets in global markets, the recovery in EM assets may be placed on hold near-term. Still, we think the conditions are still there for an extension of the recent moves, though a new catal…
Emerging Markets: Preview of the Week Ahead Emerging Markets:  Preview of the Week Ahead Reviewed by Marc Chandler on June 16, 2014 Rating: 5
Edit

Great Graphic: Federal Reserve and ECB Balance Sheets

June 16, 2014
The balance sheets of the Federal Reserve and ECB have been diverging for a couple of years.  TheGreat Graphic from Pictet shows the evolution of the two balance sheets since the onset of the Great Financial Crisis. 
The Fed's balance sheet has not peaked.  Tapering of its purchases will continue in the coming months.  Even when it is finished…
Great Graphic: Federal Reserve and ECB Balance Sheets Great Graphic:  Federal Reserve and ECB Balance Sheets Reviewed by Marc Chandler on June 16, 2014 Rating: 5
Powered by Blogger.