(Adds background, quote)CAIRO, Feb 4 (Reuters) - Egypt's foreign reserves registered in January the biggest month-on-month jump since July last year as the country pushed forward with economic reforms aimed at boosting growth.Foreign reserves rose to $38.209 billion at the end of January from $37.020 billion at the end of December, the central bank said on Sunday.It did not immediately provide de...Read More
CAIRO, Feb 4 (Reuters) - Egypt's foreign reserves rose to $38.209 billion at the end of January from $37.020 billion at the end of December, the central bank said on Sunday.Cairo's foreign reserves have been climbing since the country secured a $12 billion, three-year International Monetary Fund loan programme in 2016 in a bid to lure back foreign investors and revive its ailing economy.The countr...Read More
BEIJING, Feb 4 (Reuters) - China's Shanxi Xinghuacun Fen Wine Factory Co Ltd said its controlling shareholder Fen Jiu Group has signed an agreement to sell a 11.45 percent stake to a subsidiary of top beer maker China Resources.The stake sale is worth 5.16 billion yuan ($819.26 million), the state-owned company said in a statement to the Shanghai Stock Exchange on Sunday.The agreement will see the...Read More
COLOMBO, Feb 4 (Reuters) - Sri Lankan police said on Sunday they had arrested two officials from primary dealer Perpetual Treasuries Ltd, which was named in a report as being involved in an alleged government bond scam in 2015. Police arrested Arjun Aloysius, owner of Perpetual Treasuries which more than half the bonds in a 2015 auction were sold to, and Perpetual CEO Kasun Palisena. Aloysius is t...Read More
CAIRO, Feb 4 (Reuters) - Egypt is to issue dollar-denominated Eurobonds worth $4 billion to $5 billion within days, Finance Minister Amr El Garhy said on Sunday.Egypt sold $7 billion in five-, 10- and 30-year bonds last year as it begins its return to international markets after turmoil following the ousting of president Hosni Mubarak in 2011. (Reporting by Momen Saeed Attallah and Ehab Farouk; Ed...Read More
DUBAI, Feb 4 (Reuters) - Gulf stock markets sank early on Sunday in response to Friday's tumble on Wall Street, after U.S. data showed the strongest annual wage growth since 2009 and raised the risk of more interest rate hikes than expected this year. The Saudi index dropped 0.6 percent in the first hour with falling shares outnumbering gainers by a ratio of about two to one. Al Rajhi Bank , which...Read More
(Add context)DHAKA, Feb 4 (Reuters) - Bangladesh's foreign exchange reserves fell to $32.69 billion as at the end of January from $33.23 billion the previous month, but were up nearly 3 percent from a year earlier, the central bank said on Sunday.The monthly decline was fuelled by a rise in imports, a senior central bank official said, adding the reserves were sufficient to cover about 10 months'...Read More
DHAKA, Feb 4 (Reuters) - Bangladesh's foreign exchange reserves fell to $32.69 billion as at the end of January from $33.23 billion the previous month, but were up nearly 3 percent from a year earlier, the central bank said on Sunday.The monthly decline was fuelled by a rise in imports, a senior central bank official said, adding the reserves were sufficient to cover about 10 months' worth of impo...Read More
DUBAI, Feb 4 (Reuters) - Middle Eastern stock markets look likely to be dampened on Sunday by Friday's sharp fall on Wall Street, after U.S. data showed the strongest annual wage growth since 2009 and raised the risk of more interest rate hikes than expected this year.The Dow Jones Industrial Average sank 2.5 percent on Friday, its biggest single-day percentage decline since June 2016. The prospec...Read More
As I keep saying: the status quo has locked the working and middle classes out of today's economic benefits.The reason why the status quo has failed and is fragmenting is demonstrated in wages, employment and assets: wage earners (labor) are in a rowboat trying to catch the yacht of those who own assets (capital).Wages of those employed full time are up a gargantuan $4/week in the 18 years since 2...Read More
The tail is now where the head was generations ago, said 19th-century British historian Thomas Macaulay.Today, the American "tail" wallows in opulence once reserved for the "head" of society.The late political scientist James Q. Wilson:The poorest Americans today live a better life than all but the richest persons 100 years ago.Before air conditioning, for example, even the industrial titan hemorr...Read More
Featured GuestsCharles Nenner & John ScurciShow HighlightsJohn Scurci, head of Corona Associates Capital Management, outlines his view on the financial markets in 2018. The US Greenback struggled throughout 2017; investors should expect the theme to persist in the new year with profound implications for investors. US equities are priced for a perfect world scenario, which may lead to considerabl...Read More
By John MauldinY2K ReliefFederal CompulsionsRewind the Tape to 1987Correction Odds RisingSonoma, San Diego and SIC, and ElsewhereIf you travel as much as I do, you come to value nonstop flights. Connections introduce uncertainty and potential delays, not to mention what often feels like wasted time; but sometimes connections are just unavoidable. But you don't want them to be too tight. Those fi...Read More
By Gary TanashianOver and over again I've been making goofy headlines about the Amigos, the 3 macro riders who will reach (or abort) their respective destinations, at which point the macro is subject to change. The latest update was yesterday with a daily chart view.Just look at them, the SPX vs. Gold Amigo, the 10yr & 30yr Yield Amigo and the Yield Curve Amigo. So happy-go-lucky while they ride...Read More
Disclosures in the December 2017 statement of account published by the Bank for International Settlements --https://www.bis.org/banking/balsheet/statofacc171231.pdf-- indicate that during December the bank reduced substantially its use of gold swaps and other gold-related derivatives. The information provided in the BIS monthly statement of account is not sufficient to calculate a precise amount...Read More
By David HaggithI'm pretty sure the nation's favorite groundhog, Punxsutawney Phil, knows more about the weather than he does about markets, and I'm not all that sure he knows anything about the weather! In fact, I don't understand the underground methods of this rodent resident of Gobbler's Knob at all. It would seem to me that sighting his shadow should indicate a nice sunny day, which in turn...Read More
By Steve St. AngeloWith the Dow Jones Index falling 665 points today, the risk of a large market correction has just increased significantly. Ironically, I discussed the very indicators that were setting up for a huge market correction in my newest video which I recorded on Tuesday. Unfortunately, I wasn't able to get the video posted on my Youtube channel on Friday morning and now on my we...Read More
By Gary SavageThe correction occurring in the stock market is a normal profit taking event following the development of an extremely right translated cycle. This video examines this correction in the context of stock's entire bull market and projects where stocks will go from here.https://blog.smartmoneytrackerpremium.com/ Read More
We're certain that many of you are asking yourself this question after seeing the markets rotate to the downside so hard recently. If you had been reading our past analysis for the early portion of 2018, you would likely know the answer to this question. If not, this research article will assist in your understanding of the market's rotation and what to expect over the next few weeks/months.We c...Read More
Featured GuestsCharles Nenner & John ScurciShow HighlightsJohn Scurci, head of Corona Associates Capital Management, outlines his view on the financial markets in 2018. The US Greenback struggled throughout 2017; investors should expect the theme to persist in the new year with profound implications for investors. US equities are priced for a perfect world scenario, which may lead to considerabl...Read More