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10/7/18
Thomas Thornton
The Week Ahead - Key Events and Focus

The week will start off with the Columbus Day holiday on Monday in the US curtailing corporate action and closing the bond markets. However, the action will ramp up toward the end of the week as large banks begin to release Q3 earnings reports. Notable releases through out the week include ( FAST, CBSH, WBA, C, JPM, PNC, WFC). China reopens after a week long holiday and expect a decent gap down.  Complicating matters could be the "go to risk off" market (US bonds) are closed.  Watch Tesla early as there is chatter that they could be close to DIP financing which if so, is not a bullish development as it typically is for restructuring financing.

The Economic calendar will also be relatively slow with US CPI and PPI numbers out mid week with Import / Export trade data on Friday. Internationally we will see China FX reserves on Monday with German Trade numbers out Tuesday and Chinese Trade balance out Friday.

With the weakness in the US equity markets bullish sentiment with the S&P dropped under 50% to 44% and the NDX dropped to 53%.  S&P bullish sentiment is back to the lows in late June.  The lowest reading in S&P bullish sentiment in 2018 reached 9%.  Bond bullish sentiment is now at 33% and the lowest reading in 2018 reached 7%.  When we launch our new site we will be adding more sentiment charts including Euro Stoxx which has bullish sentiment at 35% down from a recent 63% peak.  The low this year with Euro Stoxx is 7%.  German Bund bullish sentiment is at 9% down from an August peak of 95%.  I really believe everyone will really love the new chart format as it is dynamic with the ability to see price of market combined with bullish sentiment and full adjustable to see various time frames.  There is a preview below of how it will look.  

Here is the link to sign up for this Wednesday's Hedge Fund Telemetry Daily Note Live Webinar

Earnings, Conferences, Economic Reports

    Monday 08-Oct:
      Economic:
      • US: Columbus Day
      • Europe: Euro-zone: Sentix Economic Index (Oct) Germany: Industrial production (Aug), UK: House price index (Sep)
      • Asia (Sun PM / Mon AM): China: FX reserves (Sep), Caixin PMI (Sep)
    Tuesday 09-Oct:
      Corporate:
        Brokerage Conferences:
        • Capital Link New York Maritime
        • Cowen & Co. Therapeutics Conference
      • Analyst Meeting: SJM, DDR, CUTR, OKTA
      Economic:
      • US: NFIB Small Business Index (Sep) Fed Speaker Evans,
      • Europe: Euro-zone: Germany: Trade balance (Aug) UK:
      • Asia (Mon PM / Tues AM): Japan: Current Accounts (Aug)
    Wednesday 10-Oct:
      Corporate:
        Earnings:
        • Pre-open: FAST,
        • Post-close:
        Brokerage Conferences:
        • Cowen & Co. Therapeutics
      • Analyst Meeting: HON
      • IPO: ALLO, LTHM, OSMT
      Economic:
      • US: PPI (Sep), Wholesale Inventories (Aug), Fed Speaker Bostic
      • Europe:UK: Trade balance (Aug), GDP m/m (Aug), Construction output (Aug), Manufacturing production (Aug), Industrial production (Aug)
      • Asia (Tues PM / Wed AM): Japan: Machinery orders (Sep)
    Thursday 11-Oct:
      Corporate:
        Earnings:
        • Pre-open: CBSH, WBA
        Brokerage Conferences:
        • Raymond James North American Energy
        • Cowen & Co. Medtools Unlocked
      • Analyst Meeting: ARDX, KMPH, MNTA, SAFM, ZYME, SOLO, DAR
      • IPO: EQ, PLAN
      • PDUFA: LLY (Emgality)
      Economic:
      • US: CPI numbers (Sep)
      • Asia (Wed PM / Thurs AM): Japan: Bank lending (Sep), PPI (Sep)
    Friday 12-Oct:
      Corporate:
        Earnings:
        • Pre-open: C, FRC, JPM, PNC, WFC
        Brokerage Conferences:
        • Raymond James North American Energy Forum
      • Analyst Meeting: CUBI
      • IPO: SHUR.BB
      Economic:
      • US: Import / Export Price index (Sep), Michigan Consumer Expectations (Oct) Fed speaker Bostic
      • Europe: Euro-zone: Industrial production (Aug) Germany: CPI (Sep)
      • Asia (Thurs PM / Fri AM): China: Imports / Exports (Sep) Balance of Trade (Sep), Loans growth (Sep) M2 Money Supply (Sep) Vehicle Sales (Sep) Japan: Teritary industry index (Aug)


Here's a preview of the new Hedge Fund Telemetry Sentiment Charts.  We've added a moving average on both the market price and sentiment reading to smooth out choppiness.  One will be able to reference various time periods including a 20 year historical look.  We are also adding new markets:  UK, French, German, Euro Stoxx 50 equity markets and bond sentiment with Japan and German markets.  



 


Any comments, suggestions, or questions - please email info@hedgefundtelemetry.com
Occasionally, an earnings report date could change, or could be incorrect. We rely on various sources including Street Account, Factset, and Bloomberg to compile this report.    

 

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