The biggest loser yesterday vs. the dollar was the Loonie, falling .45% after October housing starts missed expectations at 183k vs. (E) 200k. Like Australia and the UK, the Canadian housing market is viewed as a potential risk to the economy, as prices remain high and risk of a downward move remains. That number yesterday […]
Sevens Report 11.11.14TYV
Last Week Global economic data were again mildly disappointing last week, but they didn’t turn negative. Against the backdrop of global central banks becoming “more” accommodative, the data were good enough not to change the current outlook that the global recovery is (barely) continuing—but that outlook is enough to hold stocks up at current levels. […]
After a few months of calm, the situation in Ukraine is heating up. Russian tanks were reportedly crossing the border Friday and intense fighting between Russian separatists in Ukraine and government forces was reported over the weekend. As has been the case, the truly negative event here is a full-on, blatant Russian invasion of Ukraine, […]
Sevens Report 11.10.14VQD
Jobs Report Preview The importance of these jobs reports from a Fed policy standpoint is on the rise, and the risk to stocks is for the numbers to run too “hot” and pull forward Fed interest rate increases. The “Too Hot” Scenario: >300K job gains. A jobs number this strong would likely result in a […]
Sevens Report 11.7.14WFW
Midterm Election Takeaways Ignoring the politics (I’ll leave that to others far more intelligent than I), there are a few potential market takeaways to monitor now that the Republicans will control the 114th Congress (undoubtedly some clients will call asking what the mid-terms mean for the market, and I want to provide some talking points). […]
ISM Non-Manufacturing PMI October ISM Non-Manufacturing PMI was 57.1 vs. (E) 58.0. Takeaway The non-manufacturing (or service sector) October PMI was a slight disappointment as it declined from a 58.6 reading in September, and the details were also a bit underwhelming. New orders (the leading indicator of the report) fell 1.9 points to 59.1, the […]
Sevens Report 11.6.14WED