Commodities

China’s Big Money Gamble

By |2019-02-15T12:06:00-04:00February 15th, 2019|Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

While oil prices rebounded in January 2019 around the world, outside of crude commodities continued to struggle. According to the World Bank’s Pink Sheet, base metal prices fell another 1.8% on average from December. On an annual basis, these commodities as a group are about 16% below where they were in January 2018. The last [...]

COT Black Is Partially Back With A Lot of Towels

By |2019-02-06T16:33:23-04:00February 6th, 2019|Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

The Commodity Futures Trading Commission (CFTC) is in a bit of a tough spot. Being subject to the federal government shutdown meant shutting down the various Commitment of Traders (COT) reports for all the products listed on the exchange. There are a lot of them. Though the government and therefore the CFTC has reopened, it [...]

Chinese Robots, New York Heartburn, and Goldman Sach’s Central Role

By |2019-02-05T18:54:16-04:00February 5th, 2019|Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

In the continued absence of regular data, as the US federal government attempts to get back up to speed before the next lull, it is perhaps appropriate to continue on with this week’s parade of anecdotes. Here I’ll discuss three of them, each seemingly unrelated to the others. To begin, we start with Chinese robots. [...]

Monthly Macro Monitor – January 2019

By |2019-01-24T17:30:37-04:00January 24th, 2019|Alhambra Research, Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Monthly Macro Monitor, Politics|

A Return To Normalcy In the first two years after a newly elected President takes office he enacts a major tax cut that primarily benefits the wealthy and significantly raises tariffs on imports. His foreign policy is erratic but generally pulls the country back from foreign commitments. He also works to reduce immigration and roll [...]

Living In The Present

By |2019-01-10T17:15:44-04:00January 5th, 2019|Alhambra Research, Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Investing, Markets, Politics, Real Estate, Stocks, Taxes/Fiscal Policy|

The secret of health for both mind and body is not to mourn for the past, nor to worry about the future, but to live in the present moment wisely and earnestly. Buddha Review It's that time of year again, time to cast the runes, consult the iChing, shake the Magic Eight Ball and read [...]

Monthly Macro Monitor – November 2018

By |2018-11-29T21:46:14-04:00November 29th, 2018|Alhambra Research, Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Monthly Macro Monitor, Stocks|

Is the Fed's monetary tightening about over? Maybe, maybe not but there does seem to be some disagreement between Jerome Powell and his Vice Chair, Richard Clarida. Powell said just a little over a month ago that the Fed Funds rate was still "a long way from neutral" and that the Fed may ultimately need [...]