Welcome back to What's Happening Now, following a grim week for investors, especially those hanging on for that last evasive yet entirely possible "melt-up" in stocks to come should the Fed print more dollars out of thin air.
Beyond (and more important than) the impeachment proceedings launched in the U.S. last week, China trade negotiations fell off track again as new U.S. threats to contain even passive investing in China, along with Chinese company listings on U.S. Exchanges, were floated.
A resolution of the trade war would send markets temporarily much higher; as of today, however, such a resolution remains elusive.
In the meantime, U.S. manufacturing data continued to plummet... to below breakeven.
And on the Central Bank front, necessary Fed repo rescues alarmed the U.S. as chaos at the European Central Bank mounted.
In short, a lot is going on and not much of it is objectively good, though further Fed "stimulus" could easily buy us more time and highs.
Happy Monday and welcome back to this week's What's Happening Now.
Last week was quite a week, no?
It seems we're not the only ones seeing red with our "Fed Red Days." Last Monday, the Fed saw red, too, and jumped to the rescue of an out-of-control repo market to assure liquidity for bank and other short-term financing needs.
By Sunday morning last, the smoke rising from drone attacks on Aramco’s oil production facilities in Saudi Arabia could be seen from outer space. Rising energy costs from this singular event (which significantly reduced global oil production), when combined with... Read more »
Welcome back to What’s Happening Now, your weekly guide to what’s going on right now and why it matters to you – and your money. In our last column on compressed yields, we prefaced the long Labor Day Weekend with... Read more »
This will be a brief but extremely important Critical Signals Report. With the month nearly over and as we head into a holiday weekend, we wanted you to know that the U.S. 10-year Treasury Yield may be in for its... Read more »
Welcome back to What’s Happening Now, your weekly guide to what’s going on right now and why it matters to you – and your money. In last Tuesday’s issue, we discussed the 800-point drop in the Dow Jones Index and... Read more »
The global bond market is spiking, which means unprepared investors in stocks, credits, and even real estate are poised for a beating. The first symptoms of this credit crisis are appearing in Europe, from where I’ve just returned. As career... Read more »
Welcome back to What’s Happening Now, your weekly guide to what’s going on right now and why it matters to you – and your money. In last Monday’s issue, we discussed turning points and tipping points, differentiating one from the... Read more »
Now here’s something you may not have expected me to talk about today: The Association of American Railroads (AAR). The AAR recently released its July data, and there’s a lot behind these reports, which just showed a 4.4% decline in... Read more »