This is a syndicated repost courtesy of Sober Look. To view original, click here. Reposted with permission. Japan’s “Merchandise Trade” exports surprised to the upside this morning. All of a sudden Japan’s export activity is picking up steam. Source: Econoday Furthermore, Japan just overtook China as the largest exporter into the US. CNN: – Japan…
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What’s causing sharp declines in crude oil prices? Visit ND lately? – Sober Look
by Walter Kurtz • • 0 Comments
This is a syndicated repost courtesy of Sober Look. To view original, click here. Reposted with permission. Staying with the theme of bearish sentiment in commodity markets, crude oil came under severe pressure recently. Based on today’s data, US crude inventory actually declined last week, surprising some forecasters who expected crude stocks to continue rising.…
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Is China’s anti-corruption campaign responsible for global commodities sell-off? – Sober Look
by Walter Kurtz • • 0 Comments
This is a syndicated repost courtesy of Sober Look. To view original, click here. Reposted with permission. Commodities came under severe pressure yesterday, in part driven by some negative news out of China, the world’s largest single consumer of natural resources. CRB Commodity Index (Bloomberg) The nation’s GDP growth rate came in below expectations. Source:…
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Canadian households may face more deleveraging – Sober Look
by Walter Kurtz • • 0 Comments
This is a syndicated repost courtesy of Sober Look. To view original, click here. Reposted with permission. Some recent data out of Canada points to a slowdown in growth of consumer indebtedness. According to RBC, the non-mortgage consumer debt has grown at the slowest rate in 20 years. Global News: – Non-mortgage debt including credit…
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Declining dry powder of LBO funds- Sober Look
by Walter Kurtz • • 0 Comments
This is a syndicated repost courtesy of Sober Look. To view original, click here. Reposted with permission. The private equity industry’s capacity for leveraged buyouts continues to decline. Here are some reasons for this trend: Monetizations of portfolio companies have been talking longer in recent years. That traps investors’ capital, reducing capacity for redeployment in…
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Corporate CDS tightens to multi-year lows; bonds lag- Sober Look
by Walter Kurtz • • 0 Comments
This is a syndicated repost courtesy of Sober Look. To view original, click here. Reposted with permission. US corporate CDS are tightening to new lows, as the Fed continues to pump liquidity into the market. The JPMorgan CDX indices which measure spreads for the “on-the-run” CDX (and include rolling into the most current series) are…
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US government’s bearish crude oil forecast- Sober Look
by Walter Kurtz • • 0 Comments
In spite of the Fed’s ongoing monetary expansion, the US Department of Energy is projecting a moderate decline in crude prices over the next couple of years. Here is the key component of their rationale:EIA: – Non-OPEC supply growth, particularly in No…
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ABS meets EBay – the disintermediation of consumer finance- Sober Look
by Walter Kurtz • • 0 Comments
This is a syndicated repost courtesy of Sober Look. To view original, click here. Reposted with permission. Can unsecured consumer lending be disintermediated? At least one fairly successful company thinks it can – as long as you get large groups of people willing to borrow and investors willing to lend. The company is called Lending…
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Why has the US broad money supply flat-lined in 2013? – Sober Look
by Walter Kurtz • • 0 Comments
This is a syndicated repost courtesy of Sober Look. To view original, click here. Reposted with permission. The US money indicators have been showing something odd in the last few months. While the monetary base (M0) has been rising sharply due to increasing bank reserves (the liability side of the Fed’s balance sheet), the broader…
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Egypt’s descent into chaos- Sober Look
by Walter Kurtz • • 0 Comments
This is a syndicated repost courtesy of Sober Look. To view original, click here. Reposted with permission. Egypt’s cities are erupting into protests once again. Commentators have been focused on the nation’s politics and the government’s attempts to suppress certain freedoms. After all that’s what usually makes for great news. The reality however is grounded…
