Chris Ciovacco
Chris Ciovacco Articles
After tapering comments spooked the markets in May, Ben Bernanke spent weeks trying to jawbone the markets back into a calmer state. He was successful for the most part with the S&P 500 gaining 132 points off the June low.
Fed Tests...
The equity side of Wall Street coined the term great rotation to describe what they hoped would be a mass migration by investors from bonds to stocks. Many investors have not forgotten when the S&P 500 plunged 50%-plus (2007-2009).
As the Federal Reserve moves closer to tapering their monetary stimulus program, you can bet they are keeping an eye on developments in China. From Wednesday’s Wall Street Journal:
Signs of a further contraction in China’s manufacturing...
As noted on July 15 (http://www.gold-eagle.com/article/tapering-bets-could-backfire-stock-bears ), our guess is the tapering dialogue at the Fed is more about escalating fears of another round of asset bubbles rather than confidence in the...
The Fed’s tea leaves still infer the base case is some form of tapering to their bond buying campaign in September.
In an environment where financial markets are probably more dependent on the action of central banks than at any point in our lifetimes, the markets parsed every word of Ben Bernanke’s Congressional testimony Wednesday.
Efforts To Calm...
Dual Mandate Says No Major Changes Coming. In 1977, Congress amended The Federal Reserve Act, stating the monetary policy objectives of the Federal Reserve are “to promote effectively the goals of maximum employment, stable prices and...
Sometime between late Wednesday and mid-day Thursday, we should get a read on the market’s true reaction to the minutes from the last Fed gathering. At some point, the market will take a breather for a day or two in the form of a pullback...
Six Reasons Bulls Should Be Very Concerned:
Gridlock remains in Washington.
Fiscal cliff negotiations could be messy.
The VIX is sending up warning flares.
Europe's economy and debt markets remain shaky.
Commodities are questioning...
The last week of October was something else. Heavy fiscal year end selling for mutual funds seemed to put a damper on good news and push stocks and commodities lower. October is historically a tough month on the US market with mutual funds...
