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February, 2017 Archives

Oblivious

By Benjamin J. Butler

 

South China Sea

 

Since last writing this column, I've had meetings with an eminent economics professor from Tsinghua University who is connected with government, my geopolitical advisors in Seoul,  Parag Khanna who wrote Connectography and Technocracy in America, the Chairman of a shipping company, the dean of China’s top design school, and the Bank of Korea, amongst others.

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Financial Deregulation

by Jon S. Strebler

The FDIC shows the following national average rates paid to depositors as of last Friday, who are the major source of funds for banks. These rates are essentially the same as rates shown by the FDIC for November 6, 2016 – before the election and the beginning of a spike in interest rates. In other words, banks have not had to pay depositors significantly more today than they did in early November. And by the way, these rates for jumbo deposits aren’t much different than what people get on smaller deposits; either way, just about nothing!

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Global LEIs and Technicals Point Up

By Matthew Kerkhoff

 

This post-election stock market rally has been exciting and profitable, but it has also become long in the tooth. After going nowhere for almost two years, the Industrials shot from 18,000 to 19,000 in about a two-week period, took out the 20,000 mark roughly two months later, and now we’re closing in on 21,000.

 

You can see the entirety of this move in the chart below, which also contains indications that more gains may lie ahead.

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Daily Recap

Equity markets took a timeout today following five days of all-time highs in the US. Japanese shares were lower, Chinese and Indian shares higher.  In Europe, stocks were mostly lower, with the STOXX 600, down 0.37%.

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Daily Recap

Once again the feature is higher prices across the board, with new all-time highs in the major indices. The President is again promoting his upcoming tax changes, this time labeled "massive," and investors are taking him at his word. It didn't hurt that January's retail sales rose a solid 0.4%, and that the CPI was up double the expected amount, + 0.6%.

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