Few Wall Street strategists have been as consistently bullish as Deutsche Bank’s David Bianco.
Even as JP Morgan‘s famous bull Tom Lee buckled earlier this year, Bianco was urging clients to buy stocks even as the sequester approached.
But in his latest note to clients, Bianco has adopted a more bearish tone.
“Respectable 1Q EPS coupled with better job gains pushed the S&P to 1615, but the profit outlook for 2Q has weakened on softness in manufacturing, business spending and [...]
Today’s AM fix was USD 1,674.50, EUR 1,234.88, and GBP 1,058.47 per ounce.
Yesterday’s AM fix was USD 1,666.25, EUR 1,230.70, and GBP 1,057.20 per ounce.
Silver is trading at $32.08/oz, €23.76/oz and £20.40/oz. Platinum is trading at $1,677.50/oz, palladium at $736.00/oz and rhodium at $1,200/oz.
Cross Currency Table – (Bloomberg)
Gold rose $13.80 or 0.83% in New York yesterday and closed at $1,676.50/oz. Silver slipped to a low of $31.24 in the [...]
Renewed jitters over Europe, growing fears about China and the U.S’s precarious fiscal situation all bode poorly for the recent stock rally, which could correct as much as 25 percent in the coming months, an investment manager said Wednesday.
Market participants often refer to unanticipated occurences that rock the global economy as “black swans“. Yet Stanley Crouch, chief investment officer at Aegis Capital, told CNBC’s “Street Signs” that a “freckled swan” [...]
Today’s AM fix was USD 1,708.50, EUR 1,355.09, and GBP 1,074.53 per ounce.
Yesterday’s AM fix was USD 1,689.50, EUR 1,349.23 and GBP 1,065.26 per ounce.
Silver is trading at $32.55/oz, €25.94/oz and £20.55/oz. Platinum is trading at $1,582.50/oz, palladium at $644.80/oz and rhodium at $1,025/oz.
Cross Currency Table – (Bloomberg)
Gold edged down $1.70 or 0.1% in New York yesterday and closed at $1,693.60. Silver fell off in Asia then rallied to [...]
NEW YORK – Best Buy Co. is reporting a 90 percent drop in net income during the second quarter, dragged down by restructuring charges and weak sales. The company also withdrew its earnings guidance for the year.
The poor report was announced a day after Best Buy name Hubert Joly, former CEO of the Carlson travel company as its new CEO and president. The chain is also waging a public fight [...]
The People’s Bank of China (PBOC) has cut interest rates once more in hope to stimulate the economy. The pace of monetary easing has surprised a lot of people, and we were expecting a cut in reserve requirement ratio instead of an interest rate cut. But for the purpose of the current discussion, the form of easing is not the focus here.
Whenever the PBOC eases monetary policy ahead of macro data releases, the market will instinctively believe [...]
Just wanted to share an editorial I wrote on the topic of our cultural fascination with Steampunk stories and how that relates to peak oil and peak water, etc, over at my magazine.
“…and then, beam me up Scotty.”
BofA’s Ex-Strategist David Bianco Is Making A Fool Out Of Everybody Sam Ro| Feb. 12, 2012, 8:52 AM
Read more: http://www.businessinsider.com/bofas-strategist-david-bianco-sp-500-2012-2#ixzz1mGiaPcRi
Interesting to see that in same publication Soc GEn sees the S&P tumbling by 10-15% before QE 3 in 2Q 2012.
SocGen: QE3 Is Coming Soon, But First The S&P Is Going To Tank Joe Weisenthal | 2 hours ago
Read more: http://www.businessinsider.com/socgen-qe3-is-coming-soon-but-first-the-sp-is-going-to-tank-2012-2#ixzz1mGjOqxNX
2Q 1Q 4Q 3Q 2Q 1Q 4Q 3Q
2011 2011 2010 2010 2010 2010 2009 2009
———————— As % of GDP* ———————–
EU27 -5.7% -5.9% -6.6% -6.8% -6.8% -7.1% -6.9% -6.0%
Eurozone -5.5% -5.7% -6.2% -6.5% -6.4% -6.7% -6.4% -5.5%
Ireland -23.4% -24.9% -31.3% -24.5% -19.3% -20.3% -14.2% -13.1%
Greece -10.2% -9.5% -10.8% -12.3% -13.6% -15.5% -15.8% -13.4%
United Kingdom -9.4% -9.5% -10.2% -10.5% -10.9% -11.5% -11.3% -10.2%
Portugal -8.8% -9.3% -9.8% -10.3% -10.5% -9.9% -10.2% -8.3%
Spain -9.2% [...]
As long asÂ the only hurdleÂ you’re clearing is the lowÂ bar set byÂ an in-bed financial main stream media that never met a company press release it didn’t immediately deep throat, theseÂ games could go on quite a bit longer.
Nice to see you slumming round The Hedge deadhead. :>)
Yesterday Netflix reported a quarter which missed EPS, and provided a guidance that was essentially below the street. Yet for some [...]
especially at the start, when the banking mafia is heavily manipulating index futures, and toward the end of the day when they will probably try another painting the tape episode. That said, it is time for anyone who has not jumped out of this market to exit stage right. You can use the fake rallies induced by the banking mafia to do that, as foolish institutional investors are deliberately misled, [...]