<Click on graphic for larger image> Bloomberg Markets – Trumponomics Divides Investors as Gold ETF Flows Diverge Gold is splitting the investment community down the middle. Take the flows into and out of exchange-traded funds. Money has been draining out of SPDR Gold Shares, the world’s largest gold-backed ETF used by big institutional investors, each week… Continue reading An Updated Look At Gold ETFs
<Click on graphic for larger image> Bloomberg Markets – History Shows Best Equity Gains Come From Emerging Markets Nine out of 10 top markets since 1996 are developing nations If you want world-beating returns from your equity investments year after year, avoiding emerging markets isn’t an option. The top 10 stock indexes that gave global investors… Continue reading Emerging Market Performance
<Click on chart for larger image> Bloomberg Gadfly – Lisa Abramowicz: Junk Bonds’ High-Wire Act Buyers of risky corporate bonds are starting 2017 in a precarious position. They’re coming off the best year of returns since 2009, with a 17.5 percent gain last year that was fueled largely by the rebounding oil prices. And many traders are betting… Continue reading Junk Bonds
<Click on graphic for larger image> Business Insider – GUNDLACH: Here’s how we’ll know the bond bull market is dead DoubleLine Capital founder Jeff Gundlach said that if the 10-year Treasury yield hits 3%, it would mark the end of the bull market in bonds. Gundlach hosted his annual “Just Markets” webcast on Tuesday, January 10 to discuss his 2017… Continue reading Jeff Gundlach Speaks
<Click on chart for larger image> The Financial Times – ‘Bond king’ Bill Gross draws line in sand for 10-year yield Janus portfolio manager says 2.6% level is key number for investors in coming months Bill Gross, known as the “bond king”, has drawn a line in the sand, warning that the US Treasury market is… Continue reading Bill Gross: 2.60% Is A Key Level For The 10-Year Yield
Bloomberg View – Noah Smith: How Economists Can Stay Relevant Under Trump Economists are going to have to approach things a bit differently if they want to stay relevant in the Trump age. Political economy research is going to become more important. Some humility wouldn’t hurt. And they should look someplace other than the federal government… Continue reading Economists Have To Rethink Their Approach Under A Trump Presidency
MarketWatch – Caroline Baum: The bond vigilantes return — or bad ideas never die Debunking a myth: The bond market can’t do the Fed’s work for it .. Rising market rates are not a substitute for tighter Fed policy. In fact, they work at cross purposes. Because the Fed pegs the overnight interbank lending rate, rising… Continue reading The Bond Vigilantes Return
<Click on chart for larger image> Bloomberg Business – 1930s-like Demographic Headwinds Are Restraining the U.S. Economy “This is a stark reminder that the ongoing productivity challenge seen since the global financial crisis is compounded by continuing demographic headwinds,” Costerg, Standard Chartered’s senior economist in New York, wrote in a Jan. 10 report. Since the last… Continue reading Shifting Demographics
Barron’s – The Looming Assault on the Federal Reserve 1. THE NEW REGIME HATES THE FED: Donald Trump’s supporters are remarkably unified on the Federal Reserve: It monetizes the debt, it creates asset bubbles, it is utterly nontransparent, it’s controlled by Keynesians, its regulations hurt the economy, its bloated balance sheet will be impossible to wind… Continue reading Trump vs The Fed
Bloomberg View – High Inflation, Low Rates Are a Threat to Merkel There’s a big threat to Germany’s traditional political parties ahead of this year’s general election, and it isn’t immigration or populism. It’s the inflation eating away at Germans’ savings as the European Central Bank keeps interest rates near zero. Germans, from serious economists to… Continue reading Inflation In Germany
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Comment On January 12, 2017 at 9 AM CT (10 AM ET, 7 AM PT and 15:00 GMT) Bianco Research, in conjunction with Arbor Research & Trading, will be hosting a webcast/teleconference moderated by Jim Bianco. Join us Thursday as we discuss the themes to watch in 2017, including Chinese capital flows, the financial markets,… Continue reading Themes To Watch In 2017