Financials: Bearish Looking Charts

The financials are leading this market down. We have some of the biggest losers in the financials, J.P. Morgan (JPM), Goldman Sachs (GS), Morgan Stanley (MS), Citigroup (C). In fact if you look at these charts, these are among the weakest charts out there. And you would think that if the Federal Reserve is continuing to taper and the economy is not as strong as people thought, that should be bad for the financials.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

A Wake-Up Call For The Bond Market

An increase in QE will be a wake-up call for the bond market, and if the bond market does not wake up, the currency markets will wake it up.

Related ETFs: ProShares UltraShort Lehman 20+ Year ETF (TBT), iShares Barclays 20+ Year Treasury Bond ETF (TLT)

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Economic Data: April`s ISM & The Weather Excuse

Economic news out today: ISM non manufacturing for April coming in slightly better than forecast. Of course non manufacturing unfortunately is the lion share of the U.S. economy and so April numbers a little bit higher than March, although just barely. If you are trying to argue that the economy was disaster because of the weather, you would have expected a much bigger jump in the ISM for the month of April.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.