US CPI falls to four-year low of one per cent in October November 20, 2013 CPI in October increased just 1.0 per cent, compared to October 2012 – the smallest 12-month increase since October 2009. Analysts had expected a 1.1 per cent increase, following September's 1.2 per cent rise, which was the smallest gain since April. The drop, says Paul Ashworth of Capital Economics, is unlikely to impact the Fed's [...]
Errors must be punished – but US justice is becoming arbitrary November 19, 2013 IMAGINE the following scenario. It’s 2024 and we are in the middle of a major banking crisis caused by a political implosion in China. Banks are going bust left, right and centre, with the regulators trying to offload failed institutions to stronger ones to contain the chaos. If you were in charge of one of [...]
New York Report: Stocks drop off their highs for a second day November 19, 2013 US STOCKS fell yesterday, with the Dow and the S&P 500 retreating further from milestone levels, led by a slide in Best Buy after a disappointing outlook. Charles Evans, president of the Chicago Federal Reserve Bank, said that the Fed may need to wait until next year, possibly until March, before beginning to wind down [...]
Markets soar to record highs on easy money November 18, 2013 US MARKETS hit record levels yesterday as investors were boosted by sustained money printing in the US combined with the emerging economic recovery. The Dow Jones broke the 16,000 mark for the first time ever during the day, the S&P 500 peaked at 1,802 and the Nasdaq at 3,995. “These are impressive gains by any [...]
CNBC Comment: Romania risk hinges on euro fine print November 18, 2013 COUNTRIES once fell over each other to gain membership of the exclusive Eurozone club. But following four bailouts, the rich crowd now looks more like a liability. Romanian Prime Minister Victor Ponta’s face twisted into a wry smile when I asked him if he is waiting to see how the Eurozone appears in several years’ [...]
DailyFX: Analyst picks November 18, 2013 CURRENCY ANALYST CHRIS VECCHIO My pick: Stopped flat on euro-dollar and Aussie-dollar, long sterling-yen Expertise: Fundamental and technical analysis Average time frame of trades: A few hours to a few days Both my short Aussie-dollar and euro-dollar positions started off strong, but were both stopped out at break-even after Janet Yellen made clear her intent [...]
Golf Comment: That was greatest performance, tee to green, that I’ve ever seen November 18, 2013 HENRIK Stenson’s win on Sunday was not just the culmination of an extraordinary run of form; it was the greatest performance in a tournament, tee to green, that I have ever witnessed. From Thursday to Sunday, the Swede was sublime. He set a new course record of 25 under par, hit 68 out of 72 [...]
What you need to know before the open – 18/11 November 18, 2013 A quiet beginning to this week as European markets are set to get off to a slow start, with data from the US later in the week shedding more light on the impact of shutdown. Over in Asia, markets got a lift in trading today following the Third Plenum reforms announced last week. ETX [...]
What the other papers say this morning – 18 November 2013 November 18, 2013 FINANCIAL TIMES Fed considers delay to Volcker rule The Federal Reserve is considering a delay in the compliance date for the highly anticipated Volcker regulation, giving banks additional time to conform with its provisions, according to people familiar with the matter. The Fed has the option of delaying the compliance date in one-year increments. It [...]
All-conquering Stenson is best in the world November 17, 2013 RACE to Dubai runner-up Ian Poulter hailed champion Henrik Stenson as the “best player on the planet” after his six shot victory at yesterday’s DP World Tour Championship brought the curtain down on a triumphant 2013 for the Swede. Stenson, who won the US PGA Tour’s FedEx Cup in September, added the European Tour title [...]