Sunday, 15 November 2015

Stories we should be thinking about

A few finance and related stories we need to be thinking about before Monday morning:

Macro matters:

Likely to be a difficult start to trading on Monday. Just a quick reminder how different financial markets have performed year-to-date:

(h/t @David_Stendahl)

An update from Europe...and the banks need more money!

'The European Central Bank found capital gaps totaling 1.74 billion euros ($1.87 billion) among nine lenders it tested, with the biggest hole at Portugal’s Novo Banco SA. “Shortfalls amount to 1.74 billion euros resulting from CET1 ratios falling below the threshold of 5.5 percent in the adverse stress-test scenario, after including impact of asset quality review,” the ECB said in a statement on its website on Saturday. “Banks will be required to address remaining shortfalls in a timely manner by issuing capital instruments or undertaking other eligible measures to restore their capital positions to the required levels” ' (link here).

And of course all of this at a time when euro zone growth is fading...
I liked this graphic on where global growth comes from: yes, China really matters...

...and so does the US.  I thought this was insightful from Seeking Alpha:

'For the first time in at least a decade, imports fell in both September and October at the three busiest seaports in the U.S., according to the WSJ. The three - Los Angeles, Long Beach, and New York harbor - handle more than half of the goods coming into the country...'

And reflecting this...a weak manufacturing sector as shown graphically below:  
Meanwhile earnings growth for the S&P 500 appears to be set to be negative for the second consecutive quarter: 

Despite this...the VIX appears set for a fourth below recent average trends level...which feels wrong to me:

Really interesting set of oil graphics (link here).  I feel we are at/around a sentiment low here.

Wow...the long-run world real rate has pushed down to zero.  An unusual occurrence to say the least:

Fascinating graphic from Zero Hedge about a big gold sale in Hong Kong under the headline of:

About 38% Of All The COMEX Gold In Hong Kong Left The Warehouses Yesterday

Meanwhile is the gold price looking like a previous set-up?  I still like gold here. 

A few other graphics.  From today's Sunday Times a good indication of the risks of a Brexit: 

It was world diabetes day on Tuesday and some fascinating insights on the link with urbanisation below: 

The rise and rise of robotics: 

Meanwhile would you have guessed this C02 emissions league table?

Company-related observations:

This from the Daily Telegraph on the UK food retail sector:

More VW stories insights: 

And finally...

The most complex watch ever?

Meanwhile I thought this was great about how to be a straight A student at Harvard (link here):

The rise and rise of the number of words in the english language:

The growing number of English words
in 1900: 544,000 words
in 2000: 1,022,000 words!

(h/t @MaxCRoser)

Have a good week

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