Financial Sense

Italian Banks & Moving the Risk During Crisis
Daniel Amerman CFA's picture

Europe is changing by the hour and the day at this point. In this analysis, I'm going to take a quick look at critical events that have happened in Italy in the last day or so, and how they relate to my recent Video Guide to Bail-Ins series. I will be using three current Bloomberg articles that...


The Big Four Economic Indicators: Real Personal Income for May
Doug Short's picture

Official recession calls are the responsibility of the NBER Business Cycle Dating Committee, which is understandably vague about the specific indicators on which they base their decisions. This committee statement is about as close as they get to identifying their method.


Policy Uncertainty and Global Equities
BCA Research's picture

Rising global policy uncertainty should lead to lower equity multiples. There is no doubt that policy uncertainty in Europe has risen since last week’s UK referendum. The Global Policy Uncertainty Index, created by Baker, Bloom and Davis, is almost certainly much higher today than...


Diving Into Deutsche Bank’s “Passion to Perform” Balance Sheet
Michael Shedlock's picture

Deutsche Bank shares have collapsed to lows deep under crisis lows and collapse of Lehman in the Great Financial Crisis. What’s going on? An investigation of Deutsche Bank’s “Passion to Perform” balance sheet provides the clues.


Do the Charts Agree With George Soros on Brexit?
Chris Ciovacco's picture

Stocks have staged an impressive rally off the recent Brexit low, which may turn into a push to higher highs. However, as noted on Twitter, the S&P 500’s chart currently contains two lower highs, and a recently printed new multi-month low.


Regional Fed Manufacturing Overview: June Decline
Jill Mislinski's picture

Five out of the twelve Federal Reserve Regional Districts currently publish monthly data on regional manufacturing: Dallas, Kansas City, New York, Richmond, and Philadelphia. Regional manufacturing surveys are a measure of local...


Today’s Quiz: Donald Trump, Bernie Sanders, Hillary Clinton – Who Said It?
Michael Shedlock's picture

It’s quiz time. I will list a statement. You decide who said it. The correct answer is either Bernie Sanders, Donald Trump, or Hillary Clinton.


Bond Mechanics in a Negative Interest Rate World
Matthew Kerkhoff's picture

We’re going to talk about bonds today but before we get to that, I want to briefly point out why the Brexit event is impacting US markets so heavily. As we’ve discussed many times here at DTL, the strength of the US dollar dictates...


Venezuela: Mired in Crisis, With No Clear Path Ahead
Global Risk Insights's picture

With Venezuela facing an unprecedented economic crisis, time is running out to enact much-needed reforms and avoid a drawn-out catastrophe. Venezuela is a time bomb. The opposition, led by former presidential candidate Enrique Capriles...


Brexit and the Revolt Against Globalism
Clif Droke's picture

Everywhere one turns there is evidence of widespread rage and frustration. The peoples of Europe and the Americas in particular are aggrieved at their political lot and are becoming increasingly angry. What was once a simmering...


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