Last week with most of the attention being on whether or not the US Government would be able to get a deal done to raise the debt ceiling and fund the government, the factor with the highest R-square performance was Beta.
Read MoreOn a weekly closing basis we can see quite clearly that the number of new 52 week highs in Europe has continued to expand while the MSCI Europe index makes new cyclical highs.
Read MoreOver the last four years, the derived inflation expectation of 30 year US Treasury bonds have moved in tandem with US Dollar. When the USD falls, inflation expectations rise, and when the USD rises, inflation expectations fall. Since mid-September, the US Dollar Index has fallen from over 82 to under 80.
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US existing home sales dropped 1.9% in September following a downwardly revised reading for August. Median home selling price has fallen over 7% since making a 5-year high in June. The number of months supply has remained right around 5 months over the past half year.
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One way to look at volatility of stock markets is to look at the standard deviation of returns or a volatility index like the VIX.
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QuestionWhat are speculators long right now? Answer1) Stocks – from the E-mini S&P500, to the E-mini NASDAQ, to the E-mini Dow, to the E-mini Russell 2000 QuestionWhat are speculators short right now?
Read MoreThe Euro surpassed its January high today:If sustained, it appears to have a good deal of room to move higher:
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In reaction to the deal to avert the debt ceiling, short rates have slammed back down. The one month bill peaked at 35bps on Tuesday and is back down to 1bp today.
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Stocks continue to perform well here, but with little confirmation from breadth measures. We noted the other day here the divergence between lower levels of new 52 week highs and stock indices near all-time highs. Given the rally yesterday, we thought we’d provide a quick mid-week update.
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Today’s better than expected Retail Sales data follows a number of other positive releases:Will the improvements in employment, consumer confidence, house prices, and the Markit manufacturing survey be reflected in next week’s GDP release?Data for Q3 will be updated on Friday, October 25th:
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