Market Observations on the Economy

FS Staff's picture
FS Staff
02/12/2016 - 17:10
Edward Altman, Professor of Finance at New York University's Stern School of Business and a leading authority on the high yield and distressed debt market, says to expect more defaults this year and next with the average health of companies issuing...
Charles Hugh Smith's picture
Charles Hugh Smith
02/12/2016 - 10:33
What NIRP communicates is: this sucker's going down, so sell everything and hoard your cash and precious metals. The last hurrah of central banks is the negative interest rate policy—NIRP. The basic idea of NIRP is to punish savers so severely...
Ben Hunt PhD's picture
Ben Hunt PhD
02/09/2016 - 16:00
The susceptibility of credit spreads to systemic risk(s) that I was describing last month was borne out last week. Protection on the ITRAXX senior European financial debt index widened by over 45 bps from 92 bps at the close of January to 137 bps at...
Chris Puplava's picture
Chris Puplava
02/08/2016 - 11:31
With credit default swaps spiking in recent weeks among a wide number of major financial institutions—most notably Germany's largest bank, Deutsche Bank—it's time to take a look at the overall credit markets for signs of contagion/crisis. Here are...
FS Staff's picture
FS Staff
02/05/2016 - 14:15
The percent of banks tightening on loans to small businesses leads nonfarm payrolls by about 6 months. In the chart above we’ve advanced the percent of banks tightening forward by that amount to show the extremely high correlation between these two...
FS Staff's picture
FS Staff
02/04/2016 - 16:54
Wednesday’s drop in the US service sector to the lowest level in two years took many economists by surprise, leading to a sell-off in the dollar and a boost to gold and commodities, as expectations for further rate hikes this year diminished....
Charles Hugh Smith's picture
Charles Hugh Smith
02/03/2016 - 09:06
What the central banks cannot do is create productive places to invest the credit they've generated in such excess, or force qualified borrowers to swallow more unproductive debt. One way to lose a war is to focus on preparing to fight the last war.
Cris Sheridan's picture
Cris Sheridan
02/01/2016 - 18:06
Given fears expressed by a number of major strategists on our show that the Fed made a policy mistake by waiting too long to hike rates, BofA Merrill Lynch's Global Liquidity Tracker is going to be a very interesting chart to keep an eye on. In the...
FS Staff's picture
FS Staff
01/26/2016 - 08:40
After one of the worst starts of the year on record, Financial Sense spoke with Jim Bianco of Bianco Research to get his outlook on the stock market, oil, China, Fed policy and more. Jim notes record capital outflows in China, why the Fed is likely...
FS Staff's picture
FS Staff
01/25/2016 - 12:23
In a recent interview with Financial Sense, Renaissance Macro's Neil Dutta made his case for a slightly optimistic outlook on the US economy in 2016. Pushing back against concerns that problems in the manufacturing sector are the beginnings of a...

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