Financial Sense

Greece Deal, ADP Cheer Markets
Sheraz Mian's picture

Markets appear in a cheery mood on renewed hopes of a Greek deal following fresh proposals from the Greek government. The Greek headlines dominate while a strong ADP (ADP) jobs report this morning adds to...


Now’s Really Not the Time for a Liquidity Crisis
Global Risk Insights's picture

Liquidity risk in the global bond markets is peaking at the worst possible time. It’s not simply an inconvenience for Greek bank customers emptying ATMs; a number of other trends have been building for a while that have bond investors worried.


Deadlines Come and Go, Markets Endure
Marc Chandler's picture

Greece has formally fallen into arrears with the IMF, and the second aid package has expired. The markets have taken it in stride. The euro was briefly pushed below $1.1100 but snapped back quickly amid reports that Greece is...


NYSE Margin Debt: A 1.6% Decline From Last Month's Record High
Doug Short's picture

The New York Stock Exchange publishes end-of-month data for margin debt on the NYXdata website, where we can also find historical data back to 1959. Let's examine the numbers and study the relationship between...


Current Oil Price Slump Far From Over
Oil Price's picture

The oil price collapse of 2014-2015 began one year ago this month (Figure 1). The world crossed a boundary in which prices are not only lower now but will probably remain lower for some time. It represents a phase...


Deadlines, Deals, and Defaults
Sheraz Mian's picture

Greece has defaulted on its loan to the IMF, but hopes of a last-minute deal remain alive. And it is these hopes and rumors of a potential deal that appear to be giving markets a lift today. It isn’t easy to fully decipher...


Events Continue to Conspire Against The Fed
Tim Duy PhD's picture

Federal Reserve policymakers just can't catch a break lately. Riding on the back of strong data in the second half of last year, they were positioning themselves to declare victory and begin the process of policy normalization...


Barry Bannister on Greece
David Kotok's picture

A sharp note this morning by Barry Bannister (STIFEL) is worth sharing. We thank Barry for giving us permission. Despite all this posturing over Greece and “Grexit” risk, I doubt Greece will be allowed to leave the eurozone.


Recession vs. Wealth Inequality
Matthew Kerkhoff's picture

The economy contracted 0.2% in the first quarter, based on the latest revision released last Wednesday. But as we know, a number of temporary factors including another harsh winter, the west coast port strike...


Earnings Preview - Second Quarter 2015
Patrick O'Hare's picture

With the second quarter coming to an end, that means another earnings reporting period is right around the corner. Clearly, the market isn't expecting the results of the coming reporting period to be as dour as...


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