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Financial Markets’ Refusal to Acknowledge Political Uncertainty

June 19, 2017

The Wall Street Journal – The Reflation Trade Faces a Reckoning Investors haven’t given up hope. Banks and small caps, both of which are deemed likely to benefit from tax cuts and looser regulation, have moved up since former FBI Director James Comey’s testimony showed no immediate risk to the Trump administration. But it’s clear that… Continue reading Financial Markets’ Refusal to Acknowledge Political Uncertainty

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Lingering Optimism About Oil Prices

June 19, 2017

Wall Street Journal – Three Years On, Oil Industry Comes to Terms With Cheap Crude Companies drive down costs, scale back projects and tackle spendthrift culture; ‘lower for longer’ is the new mantra But now, petrostates, investors and major oil companies are adapting to a world in which they see a range of $50 to… Continue reading Lingering Optimism About Oil Prices

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Argentina To Issue A 100-Year Bond, Why It Might Be A Good Idea

June 19, 2017

Bloomberg.com – Argentina Plans to Offer 100-Year Bonds Bonds will be used to finance budget; to yield 8.25% Argentina joins Mexico, U.K., Ireland in issuing 100-year debt Argentina is planning to sell its first 100-year bond a year after returning to global capital markets as the South American nation grapples with a soaring budget deficit.  Argentina… Continue reading Argentina To Issue A 100-Year Bond, Why It Might Be A Good Idea

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 Atlanta Fed’s GDPNow vs New York Fed’s Nowcast

June 19, 2017

Federal Reserve Bank Of Atlanta – Latest forecast: 2.9 percent — June 16, 2017 The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2017 is 2.9 percent on June 16, down from 3.2 percent on June 14. The forecast for second-quarter real residential investment growth decreased from 1.8… Continue reading  Atlanta Fed’s GDPNow vs New York Fed’s Nowcast

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Inflation Targeting

June 19, 2017

The Financial Times – Yellen stirs global debate about raising central bank inflation targets Janet Yellen, the Federal Reserve chair, has given new impetus to a simmering debate in central banking as she declared the question of whether inflation targets should be raised to be one of the most critical facing monetary policymakers anywhere in… Continue reading Inflation Targeting

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Kashkari Explains Why He Dissented

June 19, 2017

Medium.com – Neel Kashkari: Why I Dissented Again I have been focused on looking for signs that the labor force participation story of the past year or so is coming to a conclusion: The economy had been creating a lot of jobs, but there was little movement downward in the headline unemployment rate. More people… Continue reading Kashkari Explains Why He Dissented

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Macron Wins Solid Majority In French Vote

June 19, 2017

The Financial Times – Macron turns to reforming France after electoral earthquake French president Emmanuel Macron on Sunday cleared his last electoral hurdle before being able to move on to push through a series of contentious reforms bills. His party, La République en Marche, which was created a little over a year ago claiming to… Continue reading Macron Wins Solid Majority In French Vote

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Economists Chime In On The Search For The Next Fed Chair

June 19, 2017

Bloomberg – Fed Chair Sweepstakes Shows Yellen In Neck-and-Neck Race The person most likely to be Federal Reserve chair when Janet Yellen’s term expires in February is… Janet Yellen, according to a Bloomberg poll of Fed watchers. Her nomination comes with two big caveats, however: It’s seen as possible, not probable, and the competition is… Continue reading Economists Chime In On The Search For The Next Fed Chair

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Kocherlakota Defends Yellen

June 19, 2017

Bloomberg – Narayana Kocherlakota: Janet Yellen Is Her Own Best Successor President Donald Trump has reportedly begun the process of deciding who will lead the U.S. Federal Reserve after Janet Yellen’s term ends early next year. If he wants the best outcome for the economy, he can’t do better than Janet Yellen. Let’s consider Yellen’s track… Continue reading Kocherlakota Defends Yellen

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There Is No Avoiding FAANG

June 19, 2017

The Wall Street Journal – Market Turns Upside-Down as Go-Go Tech Stocks Join Slow-Mo Funds Technology now represents 11.3% of the $7 billion PowerShares S&P 500 Low Volatility Portfolio SPLV 0.04% exchange-traded fund, which buys the least-volatile S&P 500 stocks. That compares with 2.9% a year ago, according to Invesco Ltd., the ETF’s sponsor. Google… Continue reading There Is No Avoiding FAANG

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Cartoons

June 19, 2017

Newsclips

Lately Every Election Is “Dewey Defeats Truman”

June 16, 2017

    OPEN Net Positions – Lately Every Election Is “Dewey Defeats Truman” Comment In our latest webinar, Jim Bianco discusses the new continuum in politics. This loss of credibility has dramatically changed the world’s political landscape. Those in the U.S. no longer vote on a Democrat vs. Republican continuum. It is now an establishment/non-establishment… Continue reading Lately Every Election Is “Dewey Defeats Truman”