Oct. 6 (Bloomberg) — The Bank of Japan may have acted first in a new round of central bank action to prop up the global economy as recoveries in industrial nations falter. The unexpected decision by the Japanese central...
Read MoreWe often write that the market is similar to some previous time frame. Our view is that the markets go through cyclical swings with excesses to both the upside and down side and that broad similarities exist between various time...
Read MoreWe have a curious assortment of views with respect to the markets as we argue, for example, that the equity market trends with the bond market on two different time frames and that there are broad similarities between each...
Read MoreThe dance between crude oil, natural gas, and the bond market continues to intrigue us. This has definitely been an interesting year. The argument has been that when crude oil is ‘high’ relative to natural gas prices...
Read MoreWe are going to cover an important point today. Not, of course, that all of our points aren’t important but we suspect that getting this one in particular ‘right’ is going to be crucial to one’s mental...
Read MoreOver the past few years we have argued that the markets have tended to push the energy and metals theme over the first half of the year before swinging back to ‘left behind’ themes through the second half. This has...
Read MoreWe comment from time to time that it is seldom a good idea to argue with the bond market. By ‘bond market’ we are not referring to the decisions and actions of central bankers who are invariably late to the party. In...
Read MoreWith the equity markets somewhat softer yesterday we thought that we would end the week with a number of bullish perspectives. Below is a comparison between the U.S. 30-year T-Bond futures and the ratio between copper futures...
Read MoreWe have been arguing for some time that the tail end of 2010 would include a strong cyclical push. Our sense is that over the coming quarter we will see the U.S. Dollar Index drift down towards roughly 75, 10-year yields moving...
Read MoreBelow is a chart comparison between crude oil futures and the ratio between the Amex Oil Index (XOI) and the S&P 500 Index (SPX). The argument is that there is a basic relationship between the relative strength of the oil...
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