Uncategorized

Long End Of The US Yield Curve Flattest Since Jan 2009 December 09, 2014

Posted by Knowledge Leaders Team in Uncategorized

The spread between 30-year treasury yields and 10-year treasury yields fell to 65 basis points yesterday which is the lowest spread since January 21st, 2009. Since April 2013, the spread has narrowed by 59 basis points. As the long end has flattened, the spread between high yield and AAA bonds has narrowed considerably.

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Energy Sector Drives Leadership Trends December 08, 2014

Posted by Knowledge Leaders Team in Uncategorized

After today’s close, using our equal weighting methodology, the MSCI World Energy sector is in a technical bear market (down 20%).  In the table below, we can see that as of Friday’s close, the MSCI World energy sector was down 19.07%.

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US Employment Report Chart Update December 05, 2014

Posted by Knowledge Leaders Team in Uncategorized

Nonfarm payrolls came in well above expectations at 321K vs expectations of 230K for November. In addition, the previous two months were both upwardly revised by a total 44K jobs. Private nonfarm payrolls were up a very impressive 314K.

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A Dramatic Change in the Liquidity Environment December 02, 2014

Posted by Knowledge Leaders Team in Uncategorized

For the last six years of quantitative easing, commercial bank non-borrowed reserves have been a good proxy for liquidity.  These reserves have grown from under $50 billion in 2008 to $2.8 trillion at the peak a few months ago.

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World Inflation Falls To 59-Month Low December 01, 2014

Posted by Knowledge Leaders Team in Uncategorized

All eyes seem to be on crude oil prices right now. Taking an average price of WTI and Brent as a proxy for global oil prices, oil is down over 33% year-to-date. In November alone, oil was down about 12%.

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Black Friday Special: How Do The Retailers Look? November 28, 2014

Posted by Knowledge Leaders Team in Uncategorized

In honor of Black Friday, we thought we would look at how the North American retailers look from a technical perspective using our relative point and figure charts. Once again, our box size is  2.5% relative performance and all charts have four years worth of history.

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Spike In New Home Prices November 26, 2014

Posted by Knowledge Leaders Team in Uncategorized

US new home sales underwhelmed again in October. The latest data point came in at 458K SAAR versus consensus of 470K. What really caught are eye was the volatile increase in average and median prices. The average sales price spiked by nearly 28% month-over-month, easily to an all-time high for this series.

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Margin Debt Declines For The 4th Time This Year November 25, 2014

Posted by Knowledge Leaders Team in Uncategorized

NYSE margin debt declined by a little more than $10 billion in October. In 2012 and 2013, there were only three months that saw margin debt decline. So far in 2014, there have been four months. In 2011, there were six months with declining margin debt.

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