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Currencies: Markets Shift Focus Back to Greece By Chuck Butler, EverBank Good day. A crazy day in the markets yesterday, but a very peaceful evening for me. With everyone gone, I treated myself to eating out and had a steak dinner. I reduced my intake of red meat after the cancer discovery five years ago, so […]
By Chuck Butler, EverBank Good day. The end of a very long week for me. It seems like a month of Sundays since just last Friday! But that’s OK; the weekend is here, and I have plans! I hope my plans don’t get squashed like the hopes that the markets had yesterday that Big Ben Bernanke […]
By Chuck Butler, EverBank The risk assets’ rally that was going on yesterday morning continued throughout the day, and overnight and European sessions. This morning, the currencies have received a boost from a couple of fairly good bond auctions in France and Spain. In Spain, the demand outstripped the supply, but the yields rose to above […]
By Chuck Butler, EverBank Good day. I’m at a complete loss this morning on what to start with! I’ve sat here staring at the blank Pfennig template for about 10 minutes now. My mind wandering to this, that and the other stuff, but never really settling on something. UGH! So I thought I would just start typing […]
By Chuck Butler, EverBank Yesterday’s price action left more blood in the streets, with the euro (EUR) losing the 1.24 handle, and the Australian dollar (AUD) reaching a 2012 low. The Brazilian government and central bank continue to do their best to unravel the markets, by cutting interest rates again this morning and crowing that there […]
By Chuck Butler, EverBank The dollar is moving onward and upward this morning, as the two-day calm in the currencies was lifted overnight, and the dollar is swinging its mighty hammer once again. The euro (EUR) has slipped to its lowest level since August 2010, and we all know that when the euro is taking its […]
By Chuck Butler, EverBank After reaching a high of nearly $106 on Wednesday, the price of oil has hit the slippery slope (yay!) all the way down to $101.27 this morning. While it will take a while before this ride on the slippery slope is seen at the gas pump, if ever, the psychological feeling it […]
By Chuck Butler, EverBank The euro (EUR) was removed from the boiling water this weekend, as the next phase of the bailout for Greece was approved… The reaction of the euro has been somewhat muted though, as most of the markets, being Pfennig readers, already saw the baby steps of stabilization going on, and priced in […]
Where’s the Economic Growth We Were Promised? by Chuck Butler, President, EverBank Have you ever wondered, at least recently, if the markets are just playing games with investors? It’s like a game of good cop, bad cop… On one day, the markets will be all about the euro (EUR), and the prospects for a solution […]
by Chuck Butler There’s a fly in the ointment, folks… The ointment being the bailouts of Greece, Ireland and Portugal… A German court is going to rule on the constitutionality, or legality, of Germany’s participation in the bailouts, and this ruling is expected tomorrow, September 7th! This is like here in the US, where we […]
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