Monthly Archives: August 2012

The MorningSnapshot- 08/21

Sentiment is mixed this morning, with the Euro Stoxx 50 up +0.62%, the Nikkei closing down -0.16%, and the S&P 500 nearly unchanged at the open in New York. Commodities are poised to enter a bull market lead by a surge in grain futures amid the worst drought in the U.S. in half a century, and on mounting optimism that growth in the U.S. and stimulus from China will boost demand. The S&P GSCI index of commodities rose as much as +1.2% in London, the highest level since May 3.

The MorningSnapshot- 08/20

Sentiment is lower this morning after Germany’s central bank stepped up its criticism of the ECB’s bond buying program. Yields on Spanish bonds trimmed declines after dropping to a six-week low, and the euro slipped -0.2% in overnight trading. Europe’s leaders are now planning an intensive week of diplomatic talks to help defuse the region’s debt crisis.

The MorningSnapshot- 08/16

Sentiment is mixed this morning after yet another barrage of economic data releases. Not too much to say considering the picture has not changed; just be ready for volatility through the next FOMC meeting.

This crazy news comes from my friend Ellis Phifer, Managing Director of Raymond James Product and Credit Strategy Group.

“What’s going on with all the ammunition purchases by the governmental offices? First, Homeland Security buys 450 million rounds, then the National Weather Service (which says their name was used in error, it’s actually the Fisheries Office of Law Enforcement) buys 46,000 rounds and now the Social Security Administration is buying 174,000 rounds. It’s one thing to buy ammunition, but this stuff is reportedly hollow point rounds. Hollow point rounds are illegal for use in war but are allowed for terrorist operations. The Fisheries Office is supposedly using it for training. There is no need for hollow points in training, especially since they are far more expensive than standard metal jacket rounds. We all are unfortunately familiar with the concept that the government doesn’t spend in the most practical ways possible. Zombie apocalypse anyone?” –Ellis Phifer, CFA, CMT