Doug Short's picture

The Preliminary University of Michigan Consumer Sentiment for January came in at 98.1, a strong surge from last month's final reading of 93.6. This is the highest level of sentiment in eleven years. Today's sentiment level...

Marc Chandler's picture

The market is still trying to make sense of yesterday's bombshell by the Swiss National Bank to abandon its franc cap, which affirmed as an integral part of the central bank's monetary policy a few short days ago.

Chris Puplava's picture

Gold and the Yen appear to be strengthening together and given how oversold both are this countertrend move could have some near-term legs to it. With the recent Swiss National Bank announcement to remove the cap to the Euro, this is also adding fuel to gold’s rally.

Michael Shedlock's picture

Saxo Bank CIO and chief economist Steen Jakobsen made a few comments the other day that hit me in the face like a bucket of ice water. Here they are again, taken from Steen Jakobsen Warns "Euro is Not a Good Idea and...

Bill Fleckenstein's picture

I don't want to make too much of today's news and market action, but on the other hand, I want to make sure to acknowledge what importance it does have and the fact that I think today will be looked back on as a red letter day...

Sheraz Mian's picture

So far, early Q4 2014 earnings season is being eclipsed by bigger headlines elsewhere. This morning, the Swiss National Bank has made the surprise decision to remove its long-standing exchange rate of 1.20 Swiss francs to 1 euro.

Matthew Kerkhoff's picture

Inflation is a major driver of the long end of the yield curve. Investors typically don't lend money at rates at which there is a high likelihood that the proceeds, once repaid, will have less purchasing power than the initial money lent.

Chris Puplava's picture

While investors have not had to worry about sovereign defaults in Europe and other parts of the world in several years, there appears to be mounting evidence that sovereign debt default concerns will be picking up meaningfully in the coming months...

Doug Short's picture

The Advance Retail Sales Report released this morning shows that sales in December came in at -0.9% (-0.94% at two decimals) month-over-month, down from a downwardly revised 0.4% in November.

Marc Chandler's picture

The key axis in Europe is between creditors and debtors. Each pushes their own interests. The regime of austerity in Europe indicates that the creditors have had the upper hand. However, there have been two developments in the last...

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