January 17, 2017: UBS signs multi-year agreement valued at over $300 million with EPAM. UBS AG, the world’s largest wealth manager, has signed a multi-year strategic framework agreement. For the past nine years, UBS and EPAM have collaborated to stay at the forefront of technology, positioning UBS as a global leader in innovative financial products (Read More….)
January 9, 2017: Keefe Bruyette initiates coverage of First Internet Bancorp with an Outperform rating and a price target of $36.
First Internet Bancorp Stock Chart
The Finviz screener settings used to find First Internet Bancorp are: Sector Financial, P/E Low (<15), Forward P/E Low (<15), EPS growth this year 100% – 105%, Sales (Read More….)
January 3, 2017: Detected trend of swing traders playing Argentina banks. Banco Macro is one such swing trade. Banco Macro has a P/E of 9.56, and a forward P/E of 8.68.
Banco Macro Stock Chart
Banco Macro S.A. provides various banking products and services to individuals, entrepreneurs, and corporate customers in Argentina.
January 2, 2017: BBVA Banco Frances appears to have bottomed. The stock trades at a P/E of 11.6, a forward P/E of 9.5, and a PEG of 0.44.
BBVA Banco Frances Stock Chart
BBVA Banco Frances S.A., together with its subsidiaries, provides various financial services to corporations, medium and small companies, and individual customers (Read More….)
December 14, 2016: Hearing rumors that First NBC Bank is in discussions with potential buyers but I can’t find the source of the rumor.
December 14, 2016: FBR Capital cuts First NBC Bank to Underperform from Market Perform, and sets a price target of $5.
November 29, 2016: The Clinton Group issues letter to the (Read More….)
Franklin Financial Network provides various banking and related financial services to small businesses, corporate entities, local governments, and individuals.
Franklin Financial Stock Chart
Chart Comments: Testing previous resistance at around $38. Inverted hammer with long upper shadow is bearish and may indicate a pullback is coming. Wait for close above $38 before long entry. (Read More….)
Whether we are talking about individual stocks, the stock market, or the economy, when you’re wrong just admit it and then move on. The goal is to make money, not to be right 100% of the time so you can stroke your ego.
AM TV and Peter Schiff predicted that the Federal Reserve could not (Read More….)
For the week, the S&P 500 lost -1%, the DJIA fell -0.6%, and the Nasdaq dropped -1.5%. Last week, preannouncements from Honeywell, Dover, Ericsson, and Fortinet scared traders, along with a disappointing Q3 report from Alcoa. HP announced a cut of 3,000 to 4,000 jobs across all divisions because of challenging market conditions.
Friday’s solid (Read More….)
Foreign countries are dumping US debt at an alarming pace. Foreigners dumped $54.2 billion in US Treasury bonds in just the last four weeks.
Since the start of 2016, foreign countries have sold more than $177.7 billion in US Treasury bonds, bringing the total to $2.827 trillion, the lowest amount of Treasuries held by (Read More….)
Fed’s Eric Rosengren was clear in his speech early Friday that rates need to be raised. Mr. Rosengren said that if we don’t raise rates soon, we could crash the economy. Mr. Rosengren said, “A failure to continue on the path of gradual removal of accommodation could shorten, rather than lengthen, the duration of this (Read More….)
The main rug on which perma-bulls stand is the falling unemployment rate in the U.S. A falling unemployment rate seems like a good thing for markets but is it?
Japan Unemployment Rate
We all know that Japan’s economy has been in trouble for decades as its central bank scrambles to prop up the economy. The (Read More….)
The mainstream financial media first reported that Brexit was not going to happen. After Brexit had happened, the mainstream media said that the people of the UK didn’t know what they were doing and were experiencing remorse.
When the market dropped after the Brexit vote, the mainstream media was all about doom and gloom regarding (Read More….)
Mark Johnson was arrested by the FBI for front-running a $3.4 billion order for the British Sterling. Mark Johnson is HSBC’s global head of foreign exchange cash trading.
The FBI alleges Mark Johnson and others made millions in profits from the trade.
The FBI has been watching HSBC closely for years. Bloomberg writes…
“…senior manager (Read More….)
As earnings season kicks off, banks are set to report next week for the quarter ending June 30, 2016. Banks revenue has been falling for years as I wrote about here.
We know that Brexit made the situation worse for banks, but that will not factor in until next quarter.
Below is an interactive chart (Read More….)
Japan’s bond yields are all going negative. Reports are that the 20-year bond yield briefly fell below zero today in some markets. The bid chart I was able to retrieve shows 20-year bond yields just above zero at 0.017%.
The number of Japanese bonds with a negative yield are astounding. Anything below the 20-year (Read More….)
The latest campaign donations show that while more bankers are backing Hillary Clinton, smaller traders are supporting Trump.
The Trump campaign has raised $65.3 million of which 73% came from individuals.
The Clinton campaign has raised $313.9 million of which only 22% came from individuals.
[graphiq id=”csighUXFFwp” title=”2016 Presidential Candidate Small Donors” width=”460″ height=”600″ url=”https://w.graphiq.com/w/csighUXFFwp” (Read More….)
A stock market crash in July could be coming straight at us. The Federal Reserve illusion of an improving US economy came to an end with June’s Employment Situation report. Economists thought the US economy created 160,000 jobs in May. The actual number was a shocking 38,000.
As the chart of non-farm payrolls (Read More….)
Brexit has crashed the Italian banking system. Italian banks crashed -22% on Friday, and then fell another -9% on Monday. The -31% plunge has pushed Italian banks down to the lowest level since the Eurozone crisis.
Italy is the first casualty of the Brexit shock waves reverberating around the world.
Italian banks were (Read More….)
The significant negative impact on US markets from Brexit is the rising US dollar. It is the rising dollar which will ultimately cause a stock market crash. Traders from around the world are selling out of the British Pound and the Euro, and buying safer US dollars.
The rising US dollar is harmful to (Read More….)
The motor vehicles and parts component of the Industrial Production report has gone negative for the first time since September 2007, right before the start of the Great Recession.
The mainstream financial media is strangely quiet about the chart above.
The economic slowdown is clearly turning into something much more serious: an outright recession. (Read More….)