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December Non-Farm private Payrolls came at 240K vs. 235K. There is an anomaly in the data, hourly earnings came at -0.2% vs. +0.2% consensus. It is not clear as to what has caused this anomaly.
The bull case is based on the strong employment number. The bear case would be made on potential of interest rates rising. In the long-term bulls are likely to win. In the short-term, the market is overbought and susceptible to decline.
This post was just published on ZYX Buy Change Alert.
This is the largest bank in Spain. The bank is experiencing rapid growth outside Spain, especially in Latin America. It is one of the cheapest banks in the world.
The position is long with an average price of $6.90. Currently, 40% of the full core position size is being held. Profits have been taken as high as $9.74.
This is a very long-term position.
It has been well known that at some point the bank would cut its dividend and do a secondary. Above 7% dividend the bank was paying was unsustainable.… Please click here or the title below to read more.