After slide in the PM, Dow finished up only 58, advancers over decliners 5-2 & NAZ climbed 4. The MLP index jumped 2+ to the 462s & the REIT index went up 1+ to the 283s. Junk bond funds slid back & Treasuries were weak. Oil had a modest gain & gold dropped again.
AMJ (Alerian MLP Index tracking fund)
![Live 24 hours gold chart [Kitco Inc.]](http://www.kitco.com/images/live/gold.gif)
Federal Reserve Bank of Chicago President Charles Evans said the central bank will probably raise interest rates in H2 of next year & the timing will depend on the pace of inflation. “I do tend to think inflation’s going to pick up and that will be the reason why we ultimately raise rates,” Evans said. “My own take is it’s most likely to be in the second half of 2015. If I had my druthers, I’d wait a little bit longer than that.” Fed Chair Yellen said last week that the central bank may wait about 6 months after it concludes its monthly purchases of bonds before raising the main interest rate. Her comments, along with Fed officials’ revised forecasts for faster tightening than previously expected, pushed up yields on Treasuries. “It’s going to be at least six months, in my opinion,” Evans said. Evans continued that he would wait until early 2016 to raise interest rates & expects a federal funds rate of 1.25% at the end of that year. The timing of the first increase isn’t as important as understanding the path, & the Fed doesn’t necessarily need to raise rates at every meeting, with increases depending on the economy & inflation, he said. “Is it going to be a sharp increase or is it going to be a more shallow increase?” he added. “We expect it to be a shallower path of increases.”
Fed’s Evans Sees Rate Increase in Second Half of 2015
German inflation slowed in Mar, indicating subdued price gains in Europe’s largest economy that could bolster the case for action by the ECB. Inflation, calculated using a harmonized EU method, was 0.9%, down from 1% in Feb, the Federal Statistics Office said (in line with the estimates). Prices increased 0.3% from the previous month, less than predicted. Eurostat, the EU’s statistics office, will release euro-area inflation data on Mon. The ECB’s Governing Council, which meets next week, has warned it could take action if the medium-term outlook for inflation in the currency bloc deteriorates. At the same time, the arrival of Easter holidays in Apr this year has the potential to push price gains higher next month. Euro-area inflation probably slowed to 0.6% in Mar from 0.7% in Feb, according to a recent survey. In Spain, consumer prices unexpectedly fell this month when compared with the previous year, the first decline since 2009. While the ECB aims to keep euro-area inflation just under 2%, consumer-price gains in the currency bloc have remained below 1% since Oct. ECB President Draghi has said the central bank expects inflation to gradually return to its goal as growth picks up over the next 2 years. Euro-area economic confidence as measured by the European Commission rose to the highest level since 2011, after data today showed that the region’s recovery strengthened in Q4-2013.
German Inflation Slows as ECB Prepares for Interest-Rate Meeting Next Week
JPMorgan, a Dow stock, is seeking to become one of the world’s 3 biggest stock brokers, lifting a division that has fallen behind its capital markets, equity derivatives & investment banking units. The largest US bank is trying to boost electronic trading & increase commission pools to climb in cash-equities trading. JPM is ranked first in investment banking, equities origination, fixed income, commodities & currencies, while it comes 2nd for derivatives products. JPM is betting that investments in electronic platforms & hedge-fund services will help it leap over rivals in an industry that has suffered from declining volume and profitability. Equities revenue at JPM climbed 8% in 2013, helped by rising sales from derivatives. The stock was up pennies today. If you would like to learn more about JPM, click on this link for Trend Analysis:
http://club.ino.com/trend/?symb=JPM&a_aid=CD3289&a_bid=6ae5b6f7
JPMorgan Aims to Be Top-Three Stock Brokerage to Match Investment Banking
Selling in the PM reduced AM gains. Biotechs sold off again, down 7% in the last week & 13% in Mar. Today Dow closed down 250 in Mar, signalling it will finished Q1 (on Mon) in the red. Recent volatility in the markets may be aggravated by money managers adjusting portfolios to make the Mar 31 close friendly to their objectives. Next Fri, the important Mar jobs report is due.
Dow Jones Industrials
AMJ (Alerian MLP Index tracking fund)
Treasury yields:
U.S. 3-month |
0.04% | |
U.S. 2-year |
0.45% | |
U.S. 10-year |
2.71% |
| CLK14.NYM | ....Crude Oil May 14 | ....101.49 |  ...0.21 | (0.2%) |
Federal Reserve Bank of Chicago President Charles Evans said the central bank will probably raise interest rates in H2 of next year & the timing will depend on the pace of inflation. “I do tend to think inflation’s going to pick up and that will be the reason why we ultimately raise rates,” Evans said. “My own take is it’s most likely to be in the second half of 2015. If I had my druthers, I’d wait a little bit longer than that.” Fed Chair Yellen said last week that the central bank may wait about 6 months after it concludes its monthly purchases of bonds before raising the main interest rate. Her comments, along with Fed officials’ revised forecasts for faster tightening than previously expected, pushed up yields on Treasuries. “It’s going to be at least six months, in my opinion,” Evans said. Evans continued that he would wait until early 2016 to raise interest rates & expects a federal funds rate of 1.25% at the end of that year. The timing of the first increase isn’t as important as understanding the path, & the Fed doesn’t necessarily need to raise rates at every meeting, with increases depending on the economy & inflation, he said. “Is it going to be a sharp increase or is it going to be a more shallow increase?” he added. “We expect it to be a shallower path of increases.”
Fed’s Evans Sees Rate Increase in Second Half of 2015
German inflation slowed in Mar, indicating subdued price gains in Europe’s largest economy that could bolster the case for action by the ECB. Inflation, calculated using a harmonized EU method, was 0.9%, down from 1% in Feb, the Federal Statistics Office said (in line with the estimates). Prices increased 0.3% from the previous month, less than predicted. Eurostat, the EU’s statistics office, will release euro-area inflation data on Mon. The ECB’s Governing Council, which meets next week, has warned it could take action if the medium-term outlook for inflation in the currency bloc deteriorates. At the same time, the arrival of Easter holidays in Apr this year has the potential to push price gains higher next month. Euro-area inflation probably slowed to 0.6% in Mar from 0.7% in Feb, according to a recent survey. In Spain, consumer prices unexpectedly fell this month when compared with the previous year, the first decline since 2009. While the ECB aims to keep euro-area inflation just under 2%, consumer-price gains in the currency bloc have remained below 1% since Oct. ECB President Draghi has said the central bank expects inflation to gradually return to its goal as growth picks up over the next 2 years. Euro-area economic confidence as measured by the European Commission rose to the highest level since 2011, after data today showed that the region’s recovery strengthened in Q4-2013.
German Inflation Slows as ECB Prepares for Interest-Rate Meeting Next Week
JPMorgan, a Dow stock, is seeking to become one of the world’s 3 biggest stock brokers, lifting a division that has fallen behind its capital markets, equity derivatives & investment banking units. The largest US bank is trying to boost electronic trading & increase commission pools to climb in cash-equities trading. JPM is ranked first in investment banking, equities origination, fixed income, commodities & currencies, while it comes 2nd for derivatives products. JPM is betting that investments in electronic platforms & hedge-fund services will help it leap over rivals in an industry that has suffered from declining volume and profitability. Equities revenue at JPM climbed 8% in 2013, helped by rising sales from derivatives. The stock was up pennies today. If you would like to learn more about JPM, click on this link for Trend Analysis:
http://club.ino.com/trend/?symb=JPM&a_aid=CD3289&a_bid=6ae5b6f7
JPMorgan Aims to Be Top-Three Stock Brokerage to Match Investment Banking
J P Morgan (JPM)
Selling in the PM reduced AM gains. Biotechs sold off again, down 7% in the last week & 13% in Mar. Today Dow closed down 250 in Mar, signalling it will finished Q1 (on Mon) in the red. Recent volatility in the markets may be aggravated by money managers adjusting portfolios to make the Mar 31 close friendly to their objectives. Next Fri, the important Mar jobs report is due.
Dow Jones Industrials
I’m a huge fan of INO & from what I have seen so far, their service Marketclub! This isn’t a stripped down version, everything in MarketClub is available to you. I don’t want to give everything away, but you’ll have unlimited access to my favorite 3 tools: Trade Triangles, Smart Scan & Alerts! The best part is that the MarketClub customer support team will be providing UNLIMITED support! You can call or email for an instant response to any question, comment or concern.
Here’s that link:
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I’d recommend you jump on this now.
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