GDP Disappoints

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The top three government data points will continue to rule the market perception about the economy. U3 will tell us the unemployment story and will be spoon fed to us by the government and the market will ultimately believe it (regardless of the math, U6, and participation rate). The CPI will be hailed as the Read more…

FOMC Changes?

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The change to the FOMC statement yesterday, sent the markets lower to their support level. Without the press conference and only the FOMC statement, the market participants read into every word and change. It wasn’t hawkish and it wasn’t dovish, it was just different and without clarity. FOMC CHANGES Bowie’s song Changes keeps ringing in Read more…

It’s all about the Fed!

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I did receive a few emails, which was expected from my headline. The point that I wish to make as it pertains to the markets is that government interventionism (monetary and fiscal) have only escalated of late (Japan QE, Obamacare, Tax changes, ECB QE, ZIRP, etc.). The economies and therefore markets are becoming MORE dependent Read more…

Road to Socialism

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The economic landscape in the U.S. is not nearly as robust as we are lead to believe. This is creating some concerns after a strong market rally, combined with expectations that the Fed will start raising rates. The 10-year yield is heading below 1.8%, the dollar has rallied, and volatility in equities is starting to Read more…

ECB Fires Salvo

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2015 will be the year of the Dollar and other currencies as I have stated before. We have already seen the dollar rally strongly, the Swiss Franc decouple moved the currency 15% in minutes, and this morning the ECB is positioning their new QE launch. You can’t help but wonder if the economies are as Read more…

Hyper-Interventionism

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I was out the last couple of days as I was under the weather, my apologies. Lot happened when I was out and it is important that we reflect on one specific item as it brought massive volatility to the world markets. I call it hyper-interventionism. Hyper Interventionism Democracy? If you ask pretty much anyone Read more…

Got Growth?

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The pre-market futures are under serious pressure this morning on the disappointing retail holiday sales. Who would have thought? That was sarcasm, because we all should have known. The Market Preview has covered in detail the sales during the holiday and try as I might I really couldn’t find any growth (other than online – Read more…

The Oil Game

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The market continues to face volatility and again the TV pundits are now blaming oil again. Is it oil prices fault? Not directly, as it is apparent that low oil prices are a beneifit to consumers as well as margins for businesses. However, there is a big picture risk which is the dollar and it’s Read more…

Real Job Story

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It’s time to take a look at December Labor Report. Did we create jobs, was a good end to the year. We need to read beyond the headlines to get to the real story and how will it impact the market. Regardless of the Labor Report, the market is fully focused on the Fed’s monetary Read more…

Currencies and Sotheby’s

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Yesterday I was in South West Florida giving a presentation on Currencies and the impact to the real estate market for foreign buyers at the Premier Sotheby’s International Realty conference. It was an impressive affair, with associates and consultants from Brazil, New York, Miami, Hong Kong, and around the world. They are a truly 1st Read more…

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