Daily Commentary 01/05/2015

The Fed’s language is changing with the departure from referencing a time for interest rate rises. This confirms the deteriorating economic conditions and reinforces speculation that it will not happen this year! This hit the Dollar, with the EUR rising to 1.1250, while the GBP hit 1.5350. German Retail Sales contracted and EU employment and…

Daily Commentary 30/04/2015

The canary is finding its voice in Europe, with warning lights beginning to flash, in the form of bond yields. German CPI contracted, reflecting the growth status of the European engine, while CPI rose in the ‘Med’ members. The phenomena of rising inflation and bond yields in the ‘Med’ states point to problems in the…

Daily Commentary 29/04/2015

Advanced economies are drowning in money as global printing presses run hot! The avalanche of liquidity has led to corrupted markets, with equities booming, currencies distorted and commodities reflecting demand constrained by a weak reserve. Promises of a return to normal monetary policy in the US, as economic conditions improve, have fallen by the wayside.…

Daily Commentary 28/04/2015

Markets had a mixed start to the week with little released on the economic data front and no major Geo-political revelations. Greece remains a threat to the European markets but no major deadlines on debt repayments allows the return of some composure. US Market Composite PMI drifted lower and the Dallas Fed Manufacturing Index remained…

Daily Commentary 24/04/2015

Equities continued to rise, led by a resurgent Nasdaq, which bested 15 year old dot.com levels. Global economic data was weak and earnings have also missed, on the revenue front, putting further pressure on Monetary Policy to do the heavy lifting. Chinese flash PMI contracted further, falling from 49.6 to 49.2, followed by a fall…

Daily Commentary 23/04/2015

Equities marched higher towards record levels again, boosted by stronger housing data, and improving corporate earnings. European markets were mixed with weak Consumer Confidence data and the Greek crises waiting in the wings. The ECB QE has continued to support a recovery in equities and a shot in the arm for investment. The EUR has…

Daily Commentary 22/04/2015

The equity rally stalled in the US after Asian and European markets soaked up the previous days moves. European markets ignored the ongoing Greek tragedy unfolding and the dip in ZEW confidence from Germany and the EU. Debt/GDP also crept up to 91.9, from 90.9, reflecting the underlying intrinsic economic crises over the single market.…