In the recent meltdown of the NDX, IBM has held up quite well. IBM has taken a longggg time to right its ship, but many signs point to success at last! The street reaction in recent days is telling...while tech was being annihilated, IBM stood its ground reasonably well. One could expect the naysayers of recent years to be taking note and looking to add.
Bond yields often broadcast a pulse on global economic and geopolitical events long before the equities markets! Most market observers are already keeping 10yr Tsy yields on their radar, and of course the 3mth Bills/10yr Tsy spread as the key indicator of curve 'steepness' or 'inversion'. But especially as the Fed starts unloading bonds from its balance sheet,...
HBI's stock has taken a beating of late, not the kind that is typical of real companies making real products serving real needs and making real money, but rather the kind of beating usually endured by high-flying tech stocks with Price/Sales ratios that are up in the low-to-no-oxygen zone! HBI earnings earlier this month indicated weaker than expected guidance for...
Admittedly, the EUR/USD is off of last week's highs, but it is nonetheless, still trading above 1.1400, despite the continued blow-out of Italian bond spreads to Bunds. This has not traditionally ended well! In previous published ideas, I highlighted technical reasons why I've been short EUR, in addition to the fundamental reason, primarily being the central bank...
The BTP/Bund spread is likely to be a key roadblock to the ECB pivoting too hawkish. Italy’s fiscal health remains the Achilles Heel of EU stability. Recent EUR strength is understandable given LaGarde’s hawkish presser, but BTP vulnerability ought to be a mitigating factor.
The EUR/USD has been in a downtrend for some time, the attached chart showing the most recent leg from the May'21 highs to late Nov'21 lows. Central Bank activity this week has caused a flurry of activity...first the ECB's hawkish presser which rallied the EUR up to the Fib 23.6% retracement of the May/Nov downtrend, then today's NFP which heightened expectations...