Market Overview

The Federal Housing Finance Agency (FHFA) has released its U.S. House Price Index (HPI) for the most recent month. Here is the opening of the report: U.S. house prices rose in February, up 0.8 percent...

On April 11, we got our rock-solid, never-fail signal to short the oil market. Since then, every single trading day — nine consecutive as of this writing — have been black candlesticks, in...

This week I will be in Washington, D.C., attending Evercore ISI’s Energy Policy & Geopolitics Conference, where I will be visiting senior staff from the White House infrastructure team and...

Concerns of a Frenchxit diminished a bit following the first round of elections in France. The results have given the markets a hint that France will have a centrist President, who will look to remain...

The currency market revolves around themes. The theme of the first round of French elections produced a strong upward reaction for the EUR. With the recent reliability woes in polling, markets had...

The probability that a recession has started is virtually nil at the moment, but it’s debatable if low macro risk will deliver robust growth in the preliminary estimate of first-quarter US GDP...

Tuesday April 25: Five things the markets are talking aboutYesterday’s price action across the various asset classes would suggest that the French presidential elections are no longer an issue...

New-home sales in the US are expected to ease in March US Consumer Confidence Index on track to dip, but remain close to 17-year high EUR/USD jumped to a five-month high after the French election on...

Economic indicators are picking up in most of the developed countries. Eurozone growth is more robust, at an annualised rate of nearly 2% in first-quarter 2017. The rebound is also better distributed,...

It seems increasingly clear that there will be no fiscal stimulus, at least not in 2017. Attention is now focused on intrinsic economic trends. Survey results and production statistics are looking...

The economic situation in the eurozone continues to improve: confidence surveys point to a very positive trend, although the latest “hard” economic data suggest that the prevailing...

The German economy is performing very well. Growth in 2017 and 2018 is likely to remain close to 1.8%. Germany’s outperformance vis-à-vis the eurozone is often attributed to the reform...

In 2016, activity grew by almost 1%, driven by domestic demand. Net exports kept on negatively contributing to the overall growth for the third year in a row. Gross fixed capital formation grew by...

In 2016, activity grew by almost 1%, driven by domestic demand. Net exports kept on negatively contributing to the overall growth for the third year in a row. Gross fixed capital formation grew by...