With the dollar continuing to trend lower, it was time to check again with Ben Lichtenstein at TD Ameritrade. It was a privilege to join him today to discuss the drivers. I sketched out my views that the greenback’s two legs, growth and interest rate differentials have been knocked from under it. There is a …
I had the privilege of joining TD Ameritrade’s Ben Lichtenstein, who I enjoy talking with. People who trade futures often look across the capital markets. By contrast, banks are so regimented and fragmented that often it seems that few follow developments in other markets that do not impact theirs in obvious or direct ways. In this …
Cool Video: TD Ameritrade–Overview of Currencies, Rates, and Gold Read More »
I have been talking with Neils Christensen, editor at Kitco news, for several years about the dollar, gold, and my read of the capital markets more broadly. We had a chance to discuss recent developments yesterday. I began my career at a small newswire, and Kitco reminds me of it. Here is the link to …
I began my career as a reporter on the floor of the Chicago Mercantile Exchange, covering the currency futures and short-term interest rate futures for a news wire. Among other things, I learned that often, the locals, people trading with their own money and wits, would take the opposite side of trades of the institutional …
Cool Video: Dollar, Trade, and China on TDA Network Read More »
From my remote location in Ocean Grove (next to Asbury Park of Bruce Springsteen fame), I joined Martin Soong and Sri Jegarajah for a brief interview as the Asia session was about to begin the new week. A three-minute clip of the interview can be found here. I suggest that there are two main drivers …
Sometimes the news drives the price action, but sometimes the price action drives the news. If the initial rally in US stocks after the FOMC meeting had been sustained and if the dollar had continued to decline, observers would drawing a different conclusion. Because of the sell-off in risk assets, many observers are blaming the …
Cool Video: A Quick Review of the the FOMC and a Look to Next Week Read More »
Jackie Pang from Meigu TV called and wanted to talk about the seeming disconnect between Wall Street and Main Street. In this nearly 4.5 minute clip that she posted here, she gave me plenty of time to explain what I make of it. At the beginning of the year, as the S&P 500 was making new record …
Here is a nine-minute clip of a chat I had with Ben Lichtenstein at TD Ameritrade. Ben captures futures traders’ energy and breadth of vision. Often in institutional settings, one develops a specialization, but in my experience, futures traders are more likely to look across the markets and asset classes. It is one of the …
Cool Video: TD Ameritrade–Stocks, the Dollar and the Trap Laid by the German Court Read More »
As the markets were re-opening in Asia earlier today, I joined Martin Soong and Sri Jegarajah on CNBC Asia. I had returned from a business trip and visited our summer house on the Jersey shore for what I thought was going to be a weekend more than a month ago. Oil prices had initially reacted …
I had the privilege to join Ben Lichtenstein at TD Ameritrade (from a remote location) this morning to talk about the global markets. I make four points. First, the reversal of the S&P 500 yesterday set the tone for Asia and Europe. Volatility throughout the capital markets remains elevated, even if off the peaks. Second, …