Blogs

More relief for small businesses and hopes for a economic rebound on reopening A snapshot of the major indices 7 minutes into the opening is currently showing:

Spoiler: It won't be Fox Business reported yesterday were that indications on the additional $310B is that it will last around 3 days. That results in a brutal situation where banking relationships and execution result in some businesses getting free money and others getting bankruptcy. That's going to stoke some real resentment, especial

Yields higher again today Here are the moves in a handful of bond markets today: There is increasing talk about the ECB increasing it Pandemic Emergency Purchase Program (PEPP). The ECB meeting is next week but ABN Amro is out with a note saying "another emergency ECB announcement a distinct possibility" while forecasting the prog

February FHFA house price index data: We already knew that the US housing market was strong coming into the pandemic. See here for global coronavirus case data

Canada March 2020 consumer price index data Core measures (to come)This was the fastest fall in the month-over-month reading since September 2006. The big drag, as expected, was energy prices down 11.6% y/y led by -21.2% in gasoline.

What to watch for The price of oil is trying to stabilize and risk markets are welcoming the development, with stocks trading back to the topside on Wednesday. There hasn't been a whole lot of activity in the FX market, with currencies mostly consolidating, waiting for that next catalyst that jolts volatility.

Trump ramps up the rhetoric Tweet from Trump: I have instructed the United States Navy to shoot down and destroy any and all Iranian gunboats if they harass our ships at sea. I don't think he's referring to harassing navy ships here but US ships in general. The thing is, how many ships are flying […]

What's on the economic calendar There are a few highlights on the economic calendar today starting at the bottom of the hour with Canadian CPI for March. The drop in energy prices is the main thing expected drag down the month-over-month reading by 0.4%. I wouldn't expect it to move the market.

Forex news from the European trading session – 22 April 2020 Headlines: Markets: – AUD leads, USD lags on the day – European equities slightly higher; E-minis up 1.3%

Latest data from the Mortgage Bankers Association for the week ending 17 April 2020 –  +7.3% – Purchase index 186.4 vs 182.6 prior – Market index 768.5 vs 770.7 prior The good news is that purchases moved off the lows seen from the previous week but it is still relatively weak, given the economic situation […]