Alhambra Investment Partners, LLC

The front month WTI futures contract traded as low as $27.27 this morning, a few dimes less than the low of January 20. Just three months out, however, the June 2016 contract is trading at $33.17 and...

The link between stock prices and oil has been especially high of late, and that has left quite a few traders and experts stumped. For a good long while any impact from oil was denied as only...

When the June 2018 eurodollar futures price touched above 98.50 on October 2, I thought that was an impressive bid suggesting just how much negativity had survived the August liquidations. It was...

When real household spending fell by 4.6% in April 2014 it was cause for concern. That was the first month after the tax hike hit and the decline in spending was much larger than anticipated (by...

The prospects of an especially severe stock market decline are far greater than widely perceived. There is a strong possibility of the most severe decline in over a century transpiring. In fact, a...

K.I.S.S. – Keep It Simple Stupid – An acronym used in the US military; a design principle; unnecessary complexity should be avoided.The acronym KISS is just another way of expressing...

How did the world get this way? I don’t mean the oncoming recession, if that is indeed, as it appears, the economy’s fate. How did the payroll statistics ever attain this kind of deference...

If the Chinese were intent on financial reform, and that meant trying perhaps the impossible task of a managed bubble deformation, the genesis of the idea was forged in the United States....

So much for the services savior? The worries about manufacturing weakness spreading are spreading. It’s maddening only because it was entirely predictable, maybe even inevitable. If consumers...

You simply cannot act as a money dealer when the money you are dealing is highly suspect. I am not writing about money in the true sense, such as any tangible form that falls under property laws of...

FOMC Voting Member Esther George issued a vote of confidence for the economy, despite financial turmoil returning across asset markets again today. With front month WTI back under $30, her idea of a...

In the third quarter 10-Q from Capital One, the bank notes a rather large change in funding. At the start of the year, Capital One (N:COF) had drawn $17.72 billion in advances from the Federal Home...

To an economist, the economy can bear no recession. In times of heavy central bank activity, an economy can never be in recession. Those appear to be the only dynamic factors that drive economic...

Throughout October, the S&P 500 Index (N:IVV) rebounded remarkably from the lows made in late August, breaking above both moving averages and getting close to new all-time highs. After a volatile...

The Bank of Japan did something Friday that took the market by surprise, something the bank’s own governor had repeatedly rejected as a potential course of action. Yes, the BOJ joined the ECB...

The Bank of Japan shouted down the debt laden economy on Thursday evening in the US. Following Europe’s precedent, they took interest rates on a certain segment of bank assets negative.News...