Morning Roll Call

That Recent House Price Boom May Be Over Before It’s Started  You know we can’t be alone in rolling our eyes when reading of the return of ‘house flippers’ in the USA. Many had hoped that these beasts had become extinct with the collapse of the mortgage backed securitization model that went down with the […]

Orders For Durable Goods In The USA Collapses  We thought carefully before using the word “collapse” as it can often suggest a cataclysmic slump. Despite the economists polled suggesting that the USA durable goods orders would fall by -3%, versus a 3.9% growth the previous month, the print of -7.3% was undoubtedly a shock. This

Can the Jackson Hole Symposium stop digging the USA economy into an early grave? The markets reacted predictably to the FOMC minutes published on Wednesday. The DJIA falling 105 points to fall through S2 and critically crash through the psyche barrier of 15,000 to finally close at 14,897. The SPX 500 followed suit by closing

Traders looking for ‘code’ from the FOMC minutes Tuesday continued the mini slump global equities markets have suffered over recent days with the USA indices falling to a six week low. Once again fears that the USA Fed will curb its bond purchases, as early as next month, continued to stalk the markets and cause

  Monday registered another negative day for many European equity indices, the European STOXX closed down 1.08%, the UK FTSE closed down 0.53%, the CAC closed down 0.97%. Italy’s principal index, the MIB nearly registered the largest fall of 2.46% only outdone by the Athens exchange fall of 2.95%. USA indices also closed down, albeit

As we predicted in our early morning call Thursday was dominated by the president of the ECB, Mario Draghi, giving his conference speech. This came after the announcement was made via Eurostat that base interest rates, in particular the deposit rate, would remain static. The bullish speech delivered by Mr. Draghi, with specific reference to

So the Wednesday numbers and the scores published on the various analysts’ doors, exceeded expectations. Well sort of… The ADP jobs report numbers pitched in with a healthy 135,000 new jobs added. However, as is customary with ADP, the last set of results in April, came with the now expected revision downward. The numbers for