Some say housing prices have bottomed. Not unless it’s truly “different this time”.
Category: Chart Of The Day
(Just Charts)
CHINA’S PROPERTY MARKETS ARE FORECASTING PLUNGING COPPER PRICES
Bloomberg’s chart of the day shows the very high correlation between the Chinese property market and copper prices. Property prices have been a reliable leading indicator of economic activity in [ … ]
ARE BP’S DAYS NUMBERED?
Credit markets are giving an ominous sign for what was once a blue chip among blue chips. Credit spreads are forecasting increasing near-term solvency risks in shares of BP as the oil catastrophe in the Gulf continues to worsen. The term structure in CDS has severely inverted implying a very high risk of near-term default:
AN INVERTED DEATH CROSS IN INVESTMENT GRADE CREDIT
As we’ve previously described the primary differentiating factor between this sell-off and every sell-off since March 2009 has been the action in the credit markets. For the first time in [ … ]
USING THE ECRI AS AN INVESTMENT TOOL
Great chart here from David Rosenberg at Gluskin Sheff. As we note on a weekly basis the ECRI’s leading index has proven to be a fairly prescient market indicator.
PCE SHOWS CONTINUING DEFLATION
From the always informative David Rosenberg:
CHART OF THE DAY: DOW 7,000?
Great chart here from Deutsche Bank’s Jim Reid (via FT Alphaville). The chart displays the inflation adjusted Dow going back to 1900. Reid used two different trend lines: 1) The [ … ]
EURO SOARS IN 48 HOURS
The Euro is soaring again in overnight trade and is now up over 4.2% from its bottom just yesterday. That is a titanic move for a currency. Many are attributing [ … ]
OVERSOLD, BUT STILL NOT AT A HISTORICAL BUYING POINT
We’re oversold, but not at good historical buying level just yet.