Wednesday, 21 January 2015

A few charts and thoughts today

So what has caught my attention today?

You have to start with the Bank of Japan who up their growth forecast...but reduce their inflation one.  They will do well to achieve the former...whilst the latter indicates some of the challenges that Abenomics faces.  My view: more stimulus will have to come...and probably a weaker yen:

Good to see gold moving above US$1300/ounce for the first time since August.  I still like the yellow metal in today's world of volatility.  

One of the reasons gold is going up is- of course - enhanced currency volatility recently.  Russia was one of the first to see high levels of volatility over the last few months...but there is always someone worse: check out what has happened in Belarus recently: 

It remains a stock picking world...and there are plenty of company insights to work through at the moment.  I thought this was interesting on the consumer discretionary versus consumer staple sector in the US via @MktOutperform: 

Meanwhile after noting a few days ago that the Schlumberger results were - all things considered - of reasonable quality, I thought it was interesting that the merging companies Baker Hughes and Halliburton (both of whom reported yesterday) saw their shares also rise despite this macro backdrop: 

And finally...what a brilliant chart from @RaoulGMI.  Says/explains so much of the market related weirdism...



  1. Appropriate typo for divided as the market dived when adjusted for the Fed buying!