Yearly Archives: 2017

Gone Fishin’

Posted on August 4, 2017 by macromon

See you in a week or two.   Look for some large sigma event, which is always the case when we are off the desk.   I will try to work off the “fat tails’ on holiday. Have a great holiday,  folks!

Posted in Charts, Uncategorized | Tagged | 6 Comments

COTD: The United States of Unicorns

Posted on August 4, 2017 by macromon

Key insights about the companies in this map: Collectively, US unicorns are worth approximately $360B. Combined, these companies have raised just over $73B. After California, New York, Massachusetts, and Illinois, the next-highest unicorn populations are found in Utah (with four) and Florida … Continue reading →

Posted in Banking, Uncategorized | Tagged , | Leave a comment

U.S. Job Creation & Wages Over Past 7 1/2 Years

Posted on August 3, 2017 by macromon

On the eve of nonfarm payrolls here is a nice data dump that gives a good roadmap of what and how many jobs have been created since 2010.   We’ll layout just the data with some bullet points and let … Continue reading →

Posted in Employment, Uncategorized | Tagged , | Leave a comment

The “Dusenberry Effect” In The U.S. Economy

Posted on August 3, 2017 by macromon

Just saw this chart on Zero Hedge yesterday, which takes me back to the days of graduate school and an unfinished Ph.D. dissertation. One part of the “Dusenberry Effect” basically states that consumers do not give up their consumption patterns … Continue reading →

Posted in Economics, Uncategorized | Tagged , , | 17 Comments

Earnings Beat “Fist Pumps” Very Muted This Quarter

Posted on August 2, 2017 by macromon

Stephen Gandel of Bloomberg out with a good piece this morning on: …shares of companies that have reported both better-than-expected profits and sales for the second quarter have barely budged this earnings season. It’s the least fist-bumping investors have done … Continue reading →

Posted in Uncategorized | 10 Comments

Watch This Space – Industrials v Transports

Posted on August 1, 2017 by macromon

Not as relevant as it used to be,  but something to keep on your radar.  Transports approaching 200-day moving average at 9,117.59 (corrected on Aug. 19) and diverging from Industrials. Dow Theory, baby! The [Dow} theory was created by Charles … Continue reading →

Posted in Equity, Uncategorized | Tagged , , | 1 Comment

Apple’s Revenue Growth

Posted on August 1, 2017 by macromon

Interesting revenue makeup from Apple’s earnings release. Overall revenue up 7 percent y/y;  iPhone revenue up 3 percent y/y;  and the only negative is a 10 percent y/y decline in China – sixth straight quarter down in the country.   Tim … Continue reading →

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QOTD: Risk

Posted on August 1, 2017 by macromon

You want to take risk when others are fleeing from it, not when they’re competing with you to do so. …But it’s precisely when people can’t see what it is that could make things turn down that risk is highest, … Continue reading →

Posted in Economics, Quote of the Day, Uncategorized | Tagged | Leave a comment

July Key Takeaways

Posted on July 31, 2017 by macromon

Stock Indices Emerging markets dominated stock returns in July with Turkey leading the way. India, which we stated was one our favorites at the beginning of the month continues to rip,  up over 22 percent, YTD.   This is going to … Continue reading →

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No Worries: Vol Not Priced For Budget Ceiling

Posted on July 31, 2017 by macromon

Do the markets price risk anymore?   That it is always inevitable when the world is awash with central bank based liquidity is not a surprise. We do see the VIX creeping back over 10 after trading with 8 handle for … Continue reading →

Posted in Equities, Fiscal Policy, Uncategorized | Tagged , , | 6 Comments