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Over the past decade academics and practitioners alike have argued that multi-factor portfolios offer significant benefits to investors looking for enhanced and more diversified solutions. Among the papers making this argument is “The Death of Diversification is Greatly Exaggerated”, co-authored by my colleague Jared Kizer and Antti Ilmanen of AQR Capital. Their work was awarded [...] - was originally published at . Please read the Alpha Architect at your convenience.


DEC CORN As harvest winds down, the mkt is buffeted back & forth by ‘trade war headlines” and daily updates on the South American growing [...]


January soybeans broke lower yesterday on bearish headlines around trade with ChinaFebruary live cattle started the day under pressure but caught a bid, midday as the cash trade started to pick up. It started with the Fed Cattle Exchange which sold 283 at an 116 weighted average.December corn futures were able to find some footing yesterday with help from a flash sale of 191,000 metric tons of corn to an “Unknown” destination. U.S futures benchmarks are experiencing the healthiest of healthy pullbacks. Price action slipped from record highs early yesterday in this low volume environment.February lean hogs continued their slide lower today as the market threatens to close the gap from September 11th, which comes in from 67.825-68.525.January soybeans broke down on Monday and spent the rest of the week consolidating as market participants searched for new news to offer more conviction in the direction of the market. With harvest nearing 90% complete, headlines will largely be on the progress, or lack thereof, on the U.S. and China trade talks. Oliver Sloup breaks down the trading day in grain futures markets. January soybean futures were making a push higher into the final hour of trade but hit a snag when reports from Washington said “US-CHINA TRADE TALK HIT SNAG OVER FARM PURCHASE”.What a resilient market. From domestic drama in Washington to a dissipating interim “Phase One” trade deal and we still have a fresh record closing high on our hands.Both the S&P and NQ set fresh record highs ahead of President Trump’s address at the Economic Club of New York. However, his comments lacked the positive jawboning on U.S-China trade that was expected and price action dissipated into the afternoon.


We kickoff the day with Export Sales, Jobless Claims, Philadelphia FED Manufacturing Index and FED Mester Speech at 7:30 A.M., Existing Home Sales and CB [...]


Financials: Dec. Bonds are currently 15 lower at 159’27, 10 Yr .Notes 0’06.5 lower 128’18.0 and 5 Yr. Notes 0’03.75 lower at 118’24..75. Bonds rallied [...]


Oil prices snapped back as it appears that the oil supply adjustment is about to begin. Oil refiners are finally turning the corner, ramping up [...]


February live cattle started the day under pressure but caught a bid, midday as the cash trade started to pick up. It started with the Fed Cattle Exchange which sold 283 at an 116 weighted average.


Oil prices snapped back as it appears that the oil supply adjustment is about to begin. Oil refiners are finally turning the corner, ramping up production to meet outstanding seasonal demand.


Each day on the European market opening Anthony Cheung, Sam North, and Amplify Trading gets you prepared for the trading day. They focus on relevant macroeconomic insights and trade idea generation for the global macro futures markets.


Facebook Pay is very exciting. Facebook has over 2.5B monthly active users and conceivably this is just the start of what could end up being one of the world's largest retail financial services businesses.


Opalesque Industry Update - The hedge fund industry's redemption trend continued in September as a fourth straight month of net outflows saw monthly redemptions increasing to $14.7 billion. September's redemptions represented 0.5% of hedge fund industry assets and were up from August's $11.3 billio...





There has been abundant discussion regarding the utility of dividends.[ref]Here are a few examples: dividends, dividends, and more dividends...and Jon See'ds piece on buybacks, if you'd like to go down that rabbit hole.[/ref] Many investment models rely on factors or other strategies in their attempt to increase returns or reduce volatility. These approaches generally focus [...] - was originally published at . Please read the Alpha Architect at your convenience.


Alan Rohrbach, President & Lead Analyst of Rohr International, returns to discuss his previous market predictions with Phil.


December corn futures were able to find some footing yesterday with help from a flash sale of 191,000 metric tons of corn to an “Unknown” destination. U.S futures benchmarks are experiencing the healthiest of healthy pullbacks. Price action slipped from record highs early yesterday in this low volume environment.February lean hogs continued their slide lower today as the market threatens to close the gap from September 11th, which comes in from 67.825-68.525.January soybeans broke down on Monday and spent the rest of the week consolidating as market participants searched for new news to offer more conviction in the direction of the market. With harvest nearing 90% complete, headlines will largely be on the progress, or lack thereof, on the U.S. and China trade talks. Oliver Sloup breaks down the trading day in grain futures markets. January soybean futures were making a push higher into the final hour of trade but hit a snag when reports from Washington said “US-CHINA TRADE TALK HIT SNAG OVER FARM PURCHASE”.What a resilient market. From domestic drama in Washington to a dissipating interim “Phase One” trade deal and we still have a fresh record closing high on our hands.Both the S&P and NQ set fresh record highs ahead of President Trump’s address at the Economic Club of New York. However, his comments lacked the positive jawboning on U.S-China trade that was expected and price action dissipated into the afternoon.December live cattle started the week under moderate pressure but were able to defend the lower end of last weeks trading range, 118.20-118.525. So long as the bulls continue to defend this pocket, they remain in clear control.Corn futures were softer to start the week as market participants continued to digest Friday’s delayed WASDE report. The delay provided a pop from algo buying but was short-lived as participants realized it wasn’t a bullish report.



We started the day with Mortgage Applications coming in down 2.2% with the previous number was up 9.6% while the 30-Year Mortgage Rate came in [...]


U.S futures benchmarks are experiencing the healthiest of healthy pullbacks. Price action slipped from record highs early yesterday in this low volume environment.February lean hogs continued their slide lower today as the market threatens to close the gap from September 11th, which comes in from 67.825-68.525.January soybeans broke down on Monday and spent the rest of the week consolidating as market participants searched for new news to offer more conviction in the direction of the market. With harvest nearing 90% complete, headlines will largely be on the progress, or lack thereof, on the U.S. and China trade talks. Oliver Sloup breaks down the trading day in grain futures markets. January soybean futures were making a push higher into the final hour of trade but hit a snag when reports from Washington said “US-CHINA TRADE TALK HIT SNAG OVER FARM PURCHASE”.What a resilient market. From domestic drama in Washington to a dissipating interim “Phase One” trade deal and we still have a fresh record closing high on our hands.Both the S&P and NQ set fresh record highs ahead of President Trump’s address at the Economic Club of New York. However, his comments lacked the positive jawboning on U.S-China trade that was expected and price action dissipated into the afternoon.December live cattle started the week under moderate pressure but were able to defend the lower end of last weeks trading range, 118.20-118.525. So long as the bulls continue to defend this pocket, they remain in clear control.Corn futures were softer to start the week as market participants continued to digest Friday’s delayed WASDE report. The delay provided a pop from algo buying but was short-lived as participants realized it wasn’t a bullish report.U.S benchmarks snapped back after the open yesterday to pare Sunday night losses. The tape remains firm ahead of the bell today with a speech from President Trump at the Economic Club of New York in focus. The speech is scheduled to begin at 11:00 am CST .


U.S futures benchmarks are experiencing the healthiest of healthy pullbacks. Price action slipped from record highs early yesterday in this low volume environment.


Oil prices got hit hard as it is unclear that Russia wants to collude further with OPEC and U.S.-China trade talks stall over the same [...]


- The DOE reported Total Crude Oil Inventories increased by 1.4 million barrels to 450.4 million barrels for the week ending November 15, 2019, while the expectations average was for a 1.5 million ba


Eurodollar futures traded in a tight range of about 4-5 ticks as there was little news to move the market. The focus stayed on impeachment hearings, but futures caught a slight bid late as traders digested FOMC minutes, closing near the top end of the range.


Each afternoon Ira Epstein gets you up to speed on what happened inthe metals futures markets. He focuses on relevant economic and geopolitical topics that affect the precious metals and base metal markets.


Each day on the European market opening Anthony Cheung, Sam North, and Amplify Trading gets you prepared for the trading day. They focus on relevant macroeconomic insights and trade idea generation for the global macro futures markets.


Oil prices got hit hard as it is unclear that Russia wants to collude further with OPEC and U.S.-China trade talks stall over the same old issues.


Every minute of every trading day, trading signals are assessed on a portfolio of30 futures marketsand tracked in a veryhigh level of transparency and accountability.




DJ USDA Grain Inspections for Export in Metric Tons – Nov 18 COUNTRY OF DESTINATION IS REPORTED AS KNOWN AT THE TIME OF EXPORTATION.


February lean hogs continued their slide lower today as the market threatens to close the gap from September 11th, which comes in from 67.825-68.525.January soybeans broke down on Monday and spent the rest of the week consolidating as market participants searched for new news to offer more conviction in the direction of the market. With harvest nearing 90% complete, headlines will largely be on the progress, or lack thereof, on the U.S. and China trade talks. Oliver Sloup breaks down the trading day in grain futures markets. January soybean futures were making a push higher into the final hour of trade but hit a snag when reports from Washington said “US-CHINA TRADE TALK HIT SNAG OVER FARM PURCHASE”.What a resilient market. From domestic drama in Washington to a dissipating interim “Phase One” trade deal and we still have a fresh record closing high on our hands.Both the S&P and NQ set fresh record highs ahead of President Trump’s address at the Economic Club of New York. However, his comments lacked the positive jawboning on U.S-China trade that was expected and price action dissipated into the afternoon.December live cattle started the week under moderate pressure but were able to defend the lower end of last weeks trading range, 118.20-118.525. So long as the bulls continue to defend this pocket, they remain in clear control.Corn futures were softer to start the week as market participants continued to digest Friday’s delayed WASDE report. The delay provided a pop from algo buying but was short-lived as participants realized it wasn’t a bullish report.U.S benchmarks snapped back after the open yesterday to pare Sunday night losses. The tape remains firm ahead of the bell today with a speech from President Trump at the Economic Club of New York in focus. The speech is scheduled to begin at 11:00 am CST .Corn drifted lower yesterday on another lackluster export sales number, 487,900 metric tons. This was up from the 4-week average and within the range of expectations, but the bull camp NEEDS to see....


We kickoff the day with Housing Starts & Permits at 7:30 A.M., Redbook at 7:55 A.M., FED Williams Speech at 10:00 A.M. and API Energy [...]


What is increasingly looking like a failure of the Saudi government to get foreign interest in the Saudi Aramco public offering is making one wonder [...]


Managed Futures remains the best performing alternative strategy year-to-date, up 9.2% according to the estimates, Lyxor said in its weekly brief. But after a massive rally up to end-August, the ...


Each afternoon Ira Epstein gets you up to speed on what happened inthe metals futures markets. He focuses on relevant economic and geopolitical topics that affect the precious metals and base metal markets.


Every minute of every trading day, trading signals are assessed on a portfolio of30 futures marketsand tracked in a veryhigh level of transparency and accountability.


Each day on the European market opening Anthony Cheung, Sam North, and Amplify Trading gets you prepared for the trading day. They focus on relevant macroeconomic insights and trade idea generation for the global macro futures markets.


What is increasingly looking like a failure of the Saudi government to get foreign interest in the Saudi Aramco public offering is making one wonder if they will still have the same incentive to try and support oil prices.


Lowering Portfolio Risk with Corporate Social Responsibility Clark, Krieger, and MauckJournal of Investing, February2019A version of this paper can be foundhereWant to read our summaries of academic finance papers? Check out ourAcademic Research Insightcategory What are the Research Questions? In this paper, the authors propose a different research approach to study Socially Responsible Investing (SRI). [...] - was originally published at . Please read the Alpha Architect at your convenience.


COTTON General Comments: Cotton was little changed last week. The market got some good news on Friday as USDA reported the strongest week of [...]


We kickoff the day with NAHB Housing Market Index at 9:00 A.M., Export Inspections at 10:00 A.M., 3 & 6-Month Bill Auction at 10:30 A.M., [...]


I guess $111 billion dollars in profit is not what it used to be. The Saudi Aramco valuation looks as if it is going to [...]


Each afternoon Ira Epstein gets you up to speed on what happened inthe metals futures markets. He focuses on relevant economic and geopolitical topics that affect the precious metals and base metal markets.


Futures traded in a relatively tight range overnight and found their session lows before the pit opening. With little economic news to digest, the market focused on a report that China is not optimistic about trade deal.


Crypto markets are generally negative today. Spot volumes over the weekend were arguably the lowest they have been in 6-months.


Each day on the European market opening Anthony Cheung, Sam North, and Amplify Trading gets you prepared for the trading day. They focus on relevant macroeconomic insights and trade idea generation for the global macro futures markets.


I guess $111 billion dollars in profit is not what it used to be. The Saudi Aramco valuation looks as if it is going to come in short of the two trillion-dollar valuation that Saudi Crown Prince Mohammad Bin Salman Al Saud.


January soybeans broke down on Monday and spent the rest of the week consolidating as market participants searched for new news to offer more conviction in the direction of the market. With harvest nearing 90% complete, headlines will largely be on the progress, or lack thereof, on the U.S. and China trade talks.


Every minute of every trading day, trading signals are assessed on a portfolio of30 futures marketsand tracked in a veryhigh level of transparency and accountability.


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Oliver Sloup breaks down the trading day in grain futures markets. January soybean futures were making a push higher into the final hour of trade but hit a snag when reports from Washington said “US-CHINA TRADE TALK HIT SNAG OVER FARM PURCHASE”.What a resilient market. From domestic drama in Washington to a dissipating interim “Phase One” trade deal and we still have a fresh record closing high on our hands.Both the S&P and NQ set fresh record highs ahead of President Trump’s address at the Economic Club of New York. However, his comments lacked the positive jawboning on U.S-China trade that was expected and price action dissipated into the afternoon.December live cattle started the week under moderate pressure but were able to defend the lower end of last weeks trading range, 118.20-118.525. So long as the bulls continue to defend this pocket, they remain in clear control.Corn futures were softer to start the week as market participants continued to digest Friday’s delayed WASDE report. The delay provided a pop from algo buying but was short-lived as participants realized it wasn’t a bullish report.U.S benchmarks snapped back after the open yesterday to pare Sunday night losses. The tape remains firm ahead of the bell today with a speech from President Trump at the Economic Club of New York in focus. The speech is scheduled to begin at 11:00 am CST .Corn drifted lower yesterday on another lackluster export sales number, 487,900 metric tons. This was up from the 4-week average and within the range of expectations, but the bull camp NEEDS to see....China’s Foreign Ministry announced yesterday that the two sides would agree to roll back tariffs in phases upon signing an interim “Phase One” trade deal. The headlines sound very copasetic, right? The only problem, the U.S had not confirmed this “great news”.Oliver Sloup breaks down the trading day before WASDE report in grain futures markets.


We kickoff the day with Business Inventories, Export Sales, New York Empire State Manufacturing Index and Retail Sales at 7:30 A.M., Industrial production and Capacity [...]


The Energy Information Administration (EIA) reported a 2.2 million barrel (MB) build in crude oil supply helped by a 1.443 million release from the Strategic [...]




The Department of Energy (DOE) reported Total Crude Oil Inventories increased by 2.2 million barrels to 449.0 million barrels for the week ending November 8, 2019, while the expectations average was for a 1.6 million barrel build.


The Energy Information Administration (EIA) reported a 2.2 million barrel (MB) build in crude oil supply helped by a 1.443 million release from the Strategic Petroleum Reserve (SPR), yet once again it was the oil import and export numbers that raised more eyebrows surrounding EIA data.


Every minute of every trading day, trading signals are assessed on a portfolio of30 futures marketsand tracked in a veryhigh level of transparency and accountability.


Each day on the European market opening Anthony Cheung, Sam North, and Amplify Trading gets you prepared for the trading day. They focus on relevant macroeconomic insights and trade idea generation for the global macro futures markets.


Crypto prices are trending lower today with bitcoin (BTC) down -2% at 2:00 CST. Spot volumes are again just ~60% of the 30-day average.


Quiet overnight session leads to a muted day trading session as futures bounced within a narrow range, mostly between 3 and 4 ticks.


DJ CBOT Delivery Intentions: Totals – Nov 14 Source: CME Group Contract Quantity Next Trade Commodity Month Delivery Day Assigned Today Date [...]


Editor's note: Earlier this week, Lu Zhang discussed his thoughts on the investment factor and expected returns. In this piece, Larry discusses a recent research piece that tells a different side of the story. We recommend that blog readers review both pieces. As is the case with many ideas in finance, there are no "correct" [...] - was originally published at . Please read the Alpha Architect at your convenience.


The investment seeks positive absolute returns. The fund uses a managed futures strategy and principally invests in U.S. and international, including emerging market, commodity and financial futures ...


January soybean futures were making a push higher into the final hour of trade but hit a snag when reports from Washington said “US-CHINA TRADE TALK HIT SNAG OVER FARM PURCHASE”.What a resilient market. From domestic drama in Washington to a dissipating interim “Phase One” trade deal and we still have a fresh record closing high on our hands.Both the S&P and NQ set fresh record highs ahead of President Trump’s address at the Economic Club of New York. However, his comments lacked the positive jawboning on U.S-China trade that was expected and price action dissipated into the afternoon.December live cattle started the week under moderate pressure but were able to defend the lower end of last weeks trading range, 118.20-118.525. So long as the bulls continue to defend this pocket, they remain in clear control.Corn futures were softer to start the week as market participants continued to digest Friday’s delayed WASDE report. The delay provided a pop from algo buying but was short-lived as participants realized it wasn’t a bullish report.U.S benchmarks snapped back after the open yesterday to pare Sunday night losses. The tape remains firm ahead of the bell today with a speech from President Trump at the Economic Club of New York in focus. The speech is scheduled to begin at 11:00 am CST .Corn drifted lower yesterday on another lackluster export sales number, 487,900 metric tons. This was up from the 4-week average and within the range of expectations, but the bull camp NEEDS to see....China’s Foreign Ministry announced yesterday that the two sides would agree to roll back tariffs in phases upon signing an interim “Phase One” trade deal. The headlines sound very copasetic, right? The only problem, the U.S had not confirmed this “great news”.Oliver Sloup breaks down the trading day before WASDE report in grain futures markets. The market softened up yesterday on the delay of a potential Phase-1 trade deal. The market has tried to claw back some of those losses this morning on headlines that the US and China have come to an agreement to roll back tariffs.


At 6:30 A.M. we had the FED Quarles Speech and we have Jobless Claims and PPI at 7:30 A.M., FED Clarida and FED Evans Speech [...]


I am not sure if Bamwx Meteorologist Bret Walts makes the weather or just predicts it but yesterday he sure seemed to move the natural [...]



The managed futures industry suffered a second straight down month in October declining 0.74 per cent, according to the Barclay CTA Index compiled by BarclayHedge, a division of Backstop Solutions.


Interest Rate futures moved steadily higher throughout the session, closing just off their session highs. Rate futures implied volatility was up today, it’s just moving off its recent lows.


The rally in Cocoa futures higher this week is all technical.Once 2560 price level broke, 2600 was the next price level traders needed for the market to close above.


Trades we are monitoring today. If you’re also looking at the Silver and Gold Options volatility this might be a trade that’s worth a look.


Crypto is lower today with volumes well below recent averages once again. Today marks the one-year anniversary of the 2018 bitcoin cash hard fork.


Each day on the European market opening Anthony Cheung, Sam North, and Amplify Trading gets you prepared for the trading day. They focus on relevant macroeconomic insights and trade idea generation for the global macro futures markets.


I am not sure if Bamwx Meteorologist Bret Walts makes the weather or just predicts it but yesterday he sure seemed to move the natural gas market! If you have been following the natural gas market lately, you know it has been moving on the weather.


What a resilient market. From domestic drama in Washington to a dissipating interim “Phase One” trade deal and we still have a fresh record closing high on our hands.





We started the day with MBA Mortgage Applications that came in at 9.6% versus the previous -0.1% and the MBA 30-Year Mortgage Rate came in [...]



Both the S&P and NQ set fresh record highs ahead of President Trump’s address at the Economic Club of New York. However, his comments lacked the positive jawboning on U.S-China trade that was expected and price action dissipated into the afternoon.


Both the S&P and NQ set fresh record highs ahead of President Trump’s address at the Economic Club of New York. However, his comments lacked the positive jawboning on U.S-China trade that was expected and price action dissipated into the afternoon.December live cattle started the week under moderate pressure but were able to defend the lower end of last weeks trading range, 118.20-118.525. So long as the bulls continue to defend this pocket, they remain in clear control.Corn futures were softer to start the week as market participants continued to digest Friday’s delayed WASDE report. The delay provided a pop from algo buying but was short-lived as participants realized it wasn’t a bullish report.U.S benchmarks snapped back after the open yesterday to pare Sunday night losses. The tape remains firm ahead of the bell today with a speech from President Trump at the Economic Club of New York in focus. The speech is scheduled to begin at 11:00 am CST .Corn drifted lower yesterday on another lackluster export sales number, 487,900 metric tons. This was up from the 4-week average and within the range of expectations, but the bull camp NEEDS to see....China’s Foreign Ministry announced yesterday that the two sides would agree to roll back tariffs in phases upon signing an interim “Phase One” trade deal. The headlines sound very copasetic, right? The only problem, the U.S had not confirmed this “great news”.Oliver Sloup breaks down the trading day before WASDE report in grain futures markets. The market softened up yesterday on the delay of a potential Phase-1 trade deal. The market has tried to claw back some of those losses this morning on headlines that the US and China have come to an agreement to roll back tariffs.Corn futures continued to bleed lower yesterday, marking the fourth consecutive lower close. Harvest pressure and concerns over dismal demand continue to be a thorn in the side of the bull camp.December lean hogs managed to breakout above the top end of the recent range on the back of demand firming up. The bulls need to see follow-through buying while defending support.


December live cattle started the week under moderate pressure but were able to defend the lower end of last weeks trading range, 118.20-118.525. So long as the bulls continue to defend this pocket, they remain in clear control.Corn futures were softer to start the week as market participants continued to digest Friday’s delayed WASDE report. The delay provided a pop from algo buying but was short-lived as participants realized it wasn’t a bullish report.U.S benchmarks snapped back after the open yesterday to pare Sunday night losses. The tape remains firm ahead of the bell today with a speech from President Trump at the Economic Club of New York in focus. The speech is scheduled to begin at 11:00 am CST .Corn drifted lower yesterday on another lackluster export sales number, 487,900 metric tons. This was up from the 4-week average and within the range of expectations, but the bull camp NEEDS to see....China’s Foreign Ministry announced yesterday that the two sides would agree to roll back tariffs in phases upon signing an interim “Phase One” trade deal. The headlines sound very copasetic, right? The only problem, the U.S had not confirmed this “great news”.Oliver Sloup breaks down the trading day before WASDE report in grain futures markets. The market softened up yesterday on the delay of a potential Phase-1 trade deal. The market has tried to claw back some of those losses this morning on headlines that the US and China have come to an agreement to roll back tariffs.Corn futures continued to bleed lower yesterday, marking the fourth consecutive lower close. Harvest pressure and concerns over dismal demand continue to be a thorn in the side of the bull camp.December lean hogs managed to breakout above the top end of the recent range on the back of demand firming up. The bulls need to see follow-through buying while defending support.December corn futures were softer to start the week as the lack of bullish headlines coupled with harvest pressure was too much for the bulls to overcome. Crop Progress was released after the close, showing corn conditions unchanged at 58% good/excellent.



It was not too long ago when people were freaked out about oil. The word was that the world was running out of oil! The [...]




Each afternoon Ira Epstein gets you up to speed on what happened inthe metals futures markets. He focuses on relevant economic and geopolitical topics that affect the precious metals and base metal markets.


It was not too long ago when people were freaked out about oil. The word was that the world was running out of oil! The world would soon hit so-called "peak oil”, a point in time when the maximum rate of extraction of petroleum would be reached, after which it was expected to enter terminal decline. Freak out!


It Has Been 4 Trading Days Since Crypto-Friendly US-Based Bank Silvergate Capital Was Listed The New York Stock Exchange (NYSE: SI) - The Firm's Shares Have Risen ~13% Since The Issue - We Provide Context And Insights


Each day on the European market opening Anthony Cheung, Sam North, and Amplify Trading gets you prepared for the trading day. They focus on relevant macroeconomic insights and trade idea generation for the global macro futures markets.


Every minute of every trading day, trading signals are assessed on a portfolio of30 futures marketsand tracked in a veryhigh level of transparency and accountability.



Managed Futures funds, which saw returns at -1.73% in October, were the primary reason aggregate returns were not more positive last month. In addition to Managed Futures, Distressed funds (-0.54%), ...


DEC CORN The only positive from Friday’s USDA Report was on the corn side where they reduced the yield to 167.0 (Oct – 168.4) & [...]


DJ CBOT Delivery Intentions: Totals – Nov 12 Source: CME Group Contract Quantity Next Trade Commodity Month Delivery Day Assigned Today Date [...]


We kickoff this Full Moon and winterlike fall day with certain reports delayed for the Veterans Day holiday. President Trump will address the Economic Club [...]


Iran raised a few eyeballs after Iranian President Hassan Rouhani said that Iran has a new oil field that would increase Iran’s proven reserves by [...]


One of the questions I have been frequently asked by traders this year is how the ongoing “trade war” with China will affect grain prices, [...]


A new DFA article by Rizova and Saito (2019, “Investment and Expected Stock Returns”) [ref]Sadly this article is currently only available to clients of Dimensional Fund Advisers[/ref] rehashes previous arguments in Fama and French (2006, 2015) on the investment factor. The core arguments are as follows: Valuation theory predicts that expected investment is negatively [...] - was originally published at . Please read the Alpha Architect at your convenience.


Corn drifted lower yesterday on another lackluster export sales number, 487,900 metric tons. This was up from the 4-week average and within the range of expectations, but the bull camp NEEDS to see....China’s Foreign Ministry announced yesterday that the two sides would agree to roll back tariffs in phases upon signing an interim “Phase One” trade deal. The headlines sound very copasetic, right? The only problem, the U.S had not confirmed this “great news”.Oliver Sloup breaks down the trading day before WASDE report in grain futures markets. The market softened up yesterday on the delay of a potential Phase-1 trade deal. The market has tried to claw back some of those losses this morning on headlines that the US and China have come to an agreement to roll back tariffs.Corn futures continued to bleed lower yesterday, marking the fourth consecutive lower close. Harvest pressure and concerns over dismal demand continue to be a thorn in the side of the bull camp.December lean hogs managed to breakout above the top end of the recent range on the back of demand firming up. The bulls need to see follow-through buying while defending support.December corn futures were softer to start the week as the lack of bullish headlines coupled with harvest pressure was too much for the bulls to overcome. Crop Progress was released after the close, showing corn conditions unchanged at 58% good/excellent. U.S benchmarks are holding at record highs and the risk-environment remains very healthy amid fresh U.S and China trade anecdotes. Expectations are mounting for President Trump and President Xi to sign an interim “Phase One” deal this month. January soybeans were under pressure in the first half of last week’s trade on the cancellation of this month’s global summit in Chile, due to protests in Santiago. Both sides seemed hopeful that they would have been able to sign a Phase 1 deal at the summit.U.S benchmarks are poised to open higher and extend record levels. The Dow joined the club overnight, achieving its first record high since July 15th. Call it momentum, an upbeat trade narrative, strong earnings, an accommodative Fed or seasonal bullishness.


U.S benchmarks are holding at record highs and the risk-environment remains very healthy amid fresh U.S and China trade anecdotes. Expectations are mounting for President Trump and President Xi to sign an interim “Phase One” deal this month.


U.S benchmarks are poised to open higher and extend record levels. The Dow joined the club overnight, achieving its first record high since July 15th. Call it momentum, an upbeat trade narrative, strong earnings, an accommodative Fed or seasonal bullishness.



Iran raised a few eyeballs after Iranian President Hassan Rouhani said that Iran has a new oil field that would increase Iran's proven reserves by an impressive 53 billion barrels of oil. Overnight, this would increase its proven reserves by about one third.


Corn futures were softer to start the week as market participants continued to digest Friday’s delayed WASDE report. The delay provided a pop from algo buying but was short-lived as participants realized it wasn’t a bullish report.


U.S benchmarks snapped back after the open yesterday to pare Sunday night losses. The tape remains firm ahead of the bell today with a speech from President Trump at the Economic Club of New York in focus. The speech is scheduled to begin at 11:00 am CST .


Futures put in their lows early in the session. Once the equities opened, futures marched steadily higher, reaching the top of their session range by midday, closing just off those levels.


Each afternoon Ira Epstein gets you up to speed on what happened inthe metals futures markets. He focuses on relevant economic and geopolitical topics that affect the precious metals and base metal markets.


Each day on the European market opening Anthony Cheung, Sam North, and Amplify Trading gets you prepared for the trading day. They focus on relevant macroeconomic insights and trade idea generation for the global macro futures markets.


What’s Up The stock index trader index lead the pack last month, up 1.19% and 5.05% for YTD led by Kinkopf Capital Management’s S&P Select program. What’s Down The trend was not your friend for the second month in a row, as the trend following strategy index dropped 2.32% anchored by Mulvaney Capital Management’s Global Markets Fund’s 12% slip. CTA Spotlight: Tianyou Asset Management. In February 2018, markets looked pretty dire for manyoption writers. The VIX had spiked 250% in less than a week and options sold a few days before were selling for many multiples of their original value.The


On the Corn front the weather outside is frightful and the markets are trading numbers that defy logic. December Corn is currently trading at 374 [...]


Are Early Stage Investors Biased Against Women? Michael Ewens and Richard TownsendJournal of Financial Economics, forthcomingA version of this paper can be foundhereWant to read our summaries of academic finance papers? Check out ourAcademic Research Insightcategory What are the Research Questions? Recent studies of startup activity in the U.S. find that only roughly 10–15% of [...] - was originally published at . Please read the Alpha Architect at your convenience.


COTTON General Comments: Cotton was higher as USDA cut production and ending stocks for the US in its reports on Friday. The reports also [...]


Oil prices are starting out a bit weak on this Veterans day as OPEC is signaling that there will be an extension of the current [...]




Each day on the European market opening Anthony Cheung, Sam North, and Amplify Trading gets you prepared for the trading day. They focus on relevant macroeconomic insights and trade idea generation for the global macro futures markets.


Every minute of every trading day, trading signals are assessed on a portfolio of30 futures marketsand tracked in a veryhigh level of transparency and accountability.


Oil prices are starting out a bit weak on this Veterans day as OPEC is signaling that there will be an extension of the current production cut but nothing bigger. This comes as the market deals with yet another drop in rig counts and a rebound in OPEC production.


Each afternoon Ira Epstein gets you up to speed on what happened inthe metals futures markets. He focuses on relevant economic and geopolitical topics that affect the precious metals and base metal markets.


Progressive Capital Partners, a Swiss investment boutique specialized in niche alternatives and managed futures strategies, has agreed to acquire Vontobel Asset Management's hedge fund arm. Financial ...




Every minute of every trading day, trading signals are assessed on a portfolio of30 futures marketsand tracked in a veryhigh level of transparency and accountability.


Each afternoon Ira Epstein gets you up to speed on what happened inthe metals futures markets. He focuses on relevant economic and geopolitical topics that affect the precious metals and base metal markets.



DJ CBOT Delivery Intentions: Totals – Nov 8 Source: CME Group Contract Quantity Next Trade Commodity Month Delivery Day Assigned Today Date [...]


Corn drifted lower yesterday on another lackluster export sales number, 487,900 metric tons. This was up from the 4-week average and within the range of expectations, but the bull camp NEEDS to see....


We kickoff the day with Wholesale Trade and FED Brainard Speech at 7:30 A.M., Michigan Consumer Sentiment at 9:00 A.M., Crop Production USDA Supply/Demand and [...]


Oil prices started out strong on U.S.-China trade talks only to fade as reports of whether all in the Trump administration are ready to lift [...]





Oil prices started out strong on U.S.-China trade talks only to fade as reports of whether all in the Trump administration are ready to lift tariffs. With U.S. trade war uncertainty, oil is continuing its volatile uptrend.


Each day on the European market opening Anthony Cheung, Sam North, and Amplify Trading gets you prepared for the trading day. They focus on relevant macroeconomic insights and trade idea generation for the global macro futures markets.


Every minute of every trading day, trading signals are assessed on a portfolio of30 futures marketsand tracked in a veryhigh level of transparency and accountability.


Oliver Sloup breaks down the trading day before WASDE report in grain futures markets. The market softened up yesterday on the delay of a potential Phase-1 trade deal. The market has tried to claw back some of those losses this morning on headlines that the US and China have come to an agreement to roll back tariffs.Corn futures continued to bleed lower yesterday, marking the fourth consecutive lower close. Harvest pressure and concerns over dismal demand continue to be a thorn in the side of the bull camp.December lean hogs managed to breakout above the top end of the recent range on the back of demand firming up. The bulls need to see follow-through buying while defending support.December corn futures were softer to start the week as the lack of bullish headlines coupled with harvest pressure was too much for the bulls to overcome. Crop Progress was released after the close, showing corn conditions unchanged at 58% good/excellent. U.S benchmarks are holding at record highs and the risk-environment remains very healthy amid fresh U.S and China trade anecdotes. Expectations are mounting for President Trump and President Xi to sign an interim “Phase One” deal this month. January soybeans were under pressure in the first half of last week’s trade on the cancellation of this month’s global summit in Chile, due to protests in Santiago. Both sides seemed hopeful that they would have been able to sign a Phase 1 deal at the summit.U.S benchmarks are poised to open higher and extend record levels. The Dow joined the club overnight, achieving its first record high since July 15th. Call it momentum, an upbeat trade narrative, strong earnings, an accommodative Fed or seasonal bullishness. Chicago wheat took a hard hit yesterday, much of what was likely technical selling. Export sales yesterday morning came in at 493,800 metric tons, up 31% from the 4-week average.Stocks have been tested this week and now face one last gauntlet. Nonfarm Payroll came in strong and ISM Manufacturing follows is at 9:00 am CT.



The collapse in interest rates, combined with historically high valuations (at least for U.S. stocks), have led many endowments, pension plans (especially those with large unfunded liabilities) and high net worth investors (such as those with their own family offices) to seek alternative investments that might offer more attractive returns. For example, over the 20-year [...] - was originally published at . Please read the Alpha Architect at your convenience.



DJ CBOT Delivery Intentions: Totals – Nov 7 Source: CME Group Contract Quantity Next Trade Commodity Month Delivery Day Assigned Today Date [...]


The performance data shown in tables and graphs on this page is calculated in USD of the fund/index/average (as applicable), on a Bid To Bid / Nav to Nav basis, with gross dividends re-invested The post appeared first on bing..


The market softened up yesterday on the delay of a potential Phase-1 trade deal. The market has tried to claw back some of those losses this morning on headlines that the US and China have come to an agreement to roll back tariffs.Corn futures continued to bleed lower yesterday, marking the fourth consecutive lower close. Harvest pressure and concerns over dismal demand continue to be a thorn in the side of the bull camp.December lean hogs managed to breakout above the top end of the recent range on the back of demand firming up. The bulls need to see follow-through buying while defending support.December corn futures were softer to start the week as the lack of bullish headlines coupled with harvest pressure was too much for the bulls to overcome. Crop Progress was released after the close, showing corn conditions unchanged at 58% good/excellent. U.S benchmarks are holding at record highs and the risk-environment remains very healthy amid fresh U.S and China trade anecdotes. Expectations are mounting for President Trump and President Xi to sign an interim “Phase One” deal this month. January soybeans were under pressure in the first half of last week’s trade on the cancellation of this month’s global summit in Chile, due to protests in Santiago. Both sides seemed hopeful that they would have been able to sign a Phase 1 deal at the summit.U.S benchmarks are poised to open higher and extend record levels. The Dow joined the club overnight, achieving its first record high since July 15th. Call it momentum, an upbeat trade narrative, strong earnings, an accommodative Fed or seasonal bullishness. Chicago wheat took a hard hit yesterday, much of what was likely technical selling. Export sales yesterday morning came in at 493,800 metric tons, up 31% from the 4-week average.Stocks have been tested this week and now face one last gauntlet. Nonfarm Payroll came in strong and ISM Manufacturing follows is at 9:00 am CT. January soybean futures were a laagered yesterday as optimism around a phase-1 trade deal diminished after the Summit in Chile was canceled, due to protests in Santiago.


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