Thursday, 26 March 2015

Macro thoughts today

Some macro thoughts today...as volatility makes a bit of a return:

Yemen / oil – rise in oil price after Saudi Arabia launched military operations against rebels in Yemen as detailed in this chart from Zero Hedge



Why is it important?  Location, location, location…


…but move surely accentuated by inventory rise recently



US market falls stats – Nasdaq sees the largest daily drop since April 2014, biggest fall in the Dow on a Wednesday since Nov 2012, S&P futures have fallen for 3 days in a row, dropping 2.1%. Run has extended to 4 days three times in the last 78...

And then there is the biotech sector...


China – looks like 11 out of the last 12 days will be up...but matters are stretched (but stimulus/further rate cut hopes keep things going...) 


Rise in inequality in the West due to housing far more than anything else.  That feels very right. 



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