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Since March 16, CAPIS has transitioned to almost every employee working remotely, so we thought we’d share our home-office views and  how our employees have kept busy. We’ll continue to share more “CAPIS Views” in the coming days, so be sure to check back for updates here on the website or on our LinkedIn. Previous “Views from Quarantine” posts:  1 | 2 | 3 Ray Prisco, Fixed Income Trader | Dallas, TX What’s the best part about the new working situation? A relaxed dress code and the significantly reduced commute time. What do you miss about working in the office? I miss overhearing the witty banter and market color among the fellow traders and the computer set up on the trading floor. How are you keeping yourself busy? I have been refining my culinary skills, spending time with my son, and Facetime/Zoom with family and friends. Best tip for working remotely? Avoid opening any potential malicious emails and having a strong wifi password! What would you say to those working on the COVID-19 front lines? We are trying to do our part to stay away and stay home so we don’t make a bad situation worse for all of you,…

Since March 16, CAPIS has transitioned to almost every employee working remotely, so we thought we’d share our home-office views and  how our employees have kept busy. We’ll continue to share more “CAPIS Views” in the coming days, so be sure to check back for updates here on the website or on our LinkedIn. To view the previous “Views from Quarantine” post, click here. David Choate, COO, Executive Director of Global Sales | Dallas, TX What’s the best part about the new working situation? The 1-minute commute from kitchen to office What do you miss about working in the office? Meetings at the Crafty Irishman (pub) after the Close.  Does that count? How are you keeping yourself busy during shelter-in-place? (TV shows, hobbies, projects, etc.) Fishing!  There is a pond behind my house and it is easy to social distance while fishing. Best tip for working remotely? Use video conferencing.  Actually seeing another person is helpful What would you say to those working on the COVID-19 front lines? Thank you and stay safe!   Corey Ware, Equity Trading | Dallas, TX What’s the best part about the new working situation? The best parts about working from home are the commute,…

Post a heavy night of economic releases including a better GDP reading out of China European markets again moved a bit higher but on higher turnover tonight.  Despite EU27 New Car Registrations down 3.9% in march Autos today led sector-wise with a gain of 1.62%.  Media and Insurers worked higher while Healthcare names were off nearly 2%. ABB rallied 5.4% with inline 1Q revs reported.  Markets though were focused on CEO Spiesshofer stepping down as his role there has been plagued by poor stock performance and tension with a large shareholder. Roche fell 1% despite upping their FY sales growth guidance.  The firm sees better growth with new drugs for MS and breast cancer treatments up and running.  Growth in China was also cited. Steel names ticked up with Vale’s restart of an iron ore mine pushing prices lower.  ArcelorMittal +4.1% and Thyssenkrupp +3.6% both moved up as they attempt to move out of month’s long bases. Post the close Kering reported solid 1Q #’s with organic revenue growth up 20%.  The firm sees Gucci growth at twice the pace of growth in the space but still slower than the trajectory it has been on. Tonight, Japan is out with…

Markets have taken a positive view of the strong Chinese export data despite the growing trade balance with the US.  Imports fell but Aggregate financing was a trillion yuan ahead of estimates.  European indices finished near highs with a stronger US market helping sentiment.  Autos continued to lead from earlier, up nearly 2% as were Banks. Basic Resources finished 120 bps better with roughly half of the sectors higher.  Healthcare finished down just over a percent.  Of interest, the ECB is not too keen on using tiered deposit rates but may instead consider negative rates to bank via a TLTRO. Carl Zeiss +6.6% holders viewed gains on a positive 1H and FY outlook.  EBIT margins are seen up 15-17%. Shortsellers cleaned up on Plus500 -31% today after 1Q revs disappointed.   The firm blamed extremely subdued markets along with customers being profitable as the company makes spread-betting. Thomas Cook slipped 4.6% on an ominous move by a creditor.  One of its lenders is looking to offload £25M in exposure on a facility due in 2022.  The offer was being made at a 30% discount. For Monday India reports trade data with Rightmove House Price moves in the UK.

Asian Markets The core Asian markets had a solid day especially Japan which need to play catch up following yesterday’s holiday.  Peripherals lagged.  Continued trade talk optimism is being given additional by a tentative budget/border agreement in the States.  The majority of sectors finished the day to the upside.  Healthcare led followed by gains of at least 1% among industrials, consumer discretionary, materials and IT.  Real estate was the only laggard of note giving ground by c. 0.3%. The BoJ is reducing JBG purchases in the 10 to 25 yr. maturity range.  The central bank is doing so to halt falling yields.  Ironically, today marks the 2o year anniversary of its extensive quantitative easy policy (CNBC). Other Headlines from the Region The healthcare gains were primarily drive by Chinese pharmaceutical companies.  China is pledging various incentives for companies to develop cancer and rare disease treatments. Toshiba -5.9% confirmed yesterday’s Nikkei report the company needed to cut it OP outlook. NCSoft’s -4.2% NI and OP are below the range of estimates.   Revenues are below consensus but at least within the range.  The company’s newer game offerings have lagged projections. Geely Auto’s +4.4% January sales rose 2%, beating estimates in both wholesale and…