Weekly Snapshot: 07/16/2017


  • Bank of Canada raises rates for the first time in seven years: “One of the puzzles for the Bank of Canada and other central banks is that inflation is still low and falling. Central bankers typically raise rates to keep inflation in check. That isn’t the problem in Canada, where consumer prices have been rising at well below the bank’s 2-per-cent inflation target.”
  • Jefferies on IBM Watson: “The narrative isn’t the product of any single malfunction, but rather the result of overhyped marketing, deficiencies in operating with deep learning and GPUs and intensive data preparation demands.”
  • AI creates a fake Obama video: “The researchers were careful to not generate videos where they put words in Obama’s mouth that he did not at some other time utter himself. However, such fake videos are “likely possible soon,” says study lead author Supasorn Suwajanakorn, a computer scientist at the University of Washington.”
  • Elliott counter-bids for Oncor: “The hedge fund would break even on its debt investment if the Berkshire bid prevails because gains in some parts of its debt holdings, which would be paid out in full, would offset losses in the unsecured bonds it holds, where it would take a deep haircut, the people said.”
  • Cosco shipping bids on Orient Overseas: “The proposed deal is the latest in a wave of mergers and acquisitions in global container shipping that has left the top six shipping lines controlling 63 percent of the market. OOIL’s shipping subsidiary, OOCL, has a 2.7 percent slice of the market.”
  • Visa offers incentives to push cashless transactions: “Such a move doubles down on the idea that Visa sees cash as its biggest competitor. Visa is securely the leader of the US card payments market — the firm processed 59% of transaction volume last year, more than double that of MasterCard.”

Economic Releases

  • Retail Sales: 0.2% decrease / 0.1% increase consensus.
  • Industrial Production: 0.4% increase / 0.3% increase consensus.
  • Initial weekly unemployment claims: 247,000 / 245,000 consensus.
  • NFIB Small Business Optimism Index: fell 0.9 points to 103.6.

Author: David Shahrestani

"I have the strength of a bear, that has the strength of TWO bears."

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