<Click on graphic for larger image> AQA – Ben Breitholtz – Global Risk on Verge of Falling to Lowest Since December 2014 It is hard to believe implied volatility (i.e. risk) can drop any lower ahead of a potential Federal Reserve rate hike, ECB taper, and earnings season. However global implied volatility as measured by BofA’s… Continue reading Falling Global Risk
CNBC – Op-Ed: She bought just 3 shares and became a multimillionaire Ordinary investors and Wall Street gurus alike have long favored dividend-paying stocks for their steady returns. For most Americans, they remain among the surest paths to wealth…Reinvesting essentially creates a snowball effect. As the years roll on, a small investment can yield a huge… Continue reading Dividend Investing
Business Insider – Economists never imagined negative interest rates — now they’re rewriting textbooks Centrals banks, like the Federal Reserve in the US or the Bank of England in the UK, control a country’s supply of money and set the interest rates that apply when a bank lends to another bank, usually to meet mandates for… Continue reading What To Make Of Negative Interest Rates
Bloomberg View – Mark Whitehouse: Europe’s Banks Think They’re Incredibly Safe Given the parlous state of Europe’s economy, it’s hard to imagine that the investments of the region’s banks are among the safest in the world. Yet that is precisely what they would have regulators and investors believe. The banks’ safety has come into the spotlight… Continue reading How Safe Are European Banks?
<Click on graphic for larger image> The Wall Street Journal – Sputtering Startups Weigh on U.S. Economic Growth The share of employment at such firms, meanwhile, has slipped from nearly 4% to about 2% of private-sector jobs. While only a few percentage points, the drop translates into hundreds of thousands of companies and jobs. If the U.S. were… Continue reading Slumping Business Startups
<Click on chart for larger image> <Click on chart for larger image> The Financial Times – Jeremy Grantham says ‘presidential cycle’ investing is dead Fed has curtailed market gains once typical of presidency’s third year, says investor Jeremy Grantham, the revered investor who popularised the “presidential cycle” of stock market investing — in which gains during… Continue reading Is The Presidential Cycle Dead?
Dallas Fed – Residual Seasonality in U.S. GDP Data Directly seasonally adjusting official seasonally adjusted GDP, which we refer to as double seasonal adjustment, could revise the first quarter growth in the past several years upward by an average of about 1.5 percentage points. Rudebush et al (2015a, b) and the Bureau of Economic Analysis find… Continue reading The Fed Would Make China Blush When It Comes To GDP Reporting
<Click on graphic for larger image> The Wall Street Journal – Meet the New Corporate Power Brokers: Passive Investors Investor Jeffrey Osher and his advisers arrived at the May annual meeting of Green Dot Corp. , a prepaid-card company, thinking they had enough votes to remove its chief executive from the board. In the parking lot, they… Continue reading Indexation, Who Votes The Proxy?
Looking To 2017 A transcript of the October 20, 2016 conference call. Handout Audio [audio:https://www.biancoresearch.com/bianco/SubscriberArea/102016.mp3|titles=Conference Call ] Webcast (download if flash video does not work below) [hana-flv-player video=”https://www.biancoresearch.com/bianco/SubscriberArea/102016.flv” width=”600″ height=”495″ description=”” player=”3″ autoload=”false” autoplay=”false” loop=”false” autorewind=”false” skin=”functional” /] [pageview class=”PDFViewer” url=”https://www.biancoresearch.com/bianco/wp-content/plugins/PDFViewer/plugin.php?id=326″]
<Click on chart for larger image> Reuters – Dollar at nine-month high on bets for Fed hike, Clinton victory The dollar hit a nine-month high against a basket of currencies on Monday, buoyed by expectations that the Federal Reserve will raise U.S. interest rates this year…On Friday, San Francisco Fed President John Williams said that… Continue reading The Odds Of A Fed Hike
Fact Set – Q3 2016 Earnings Season: By the Numbers With 23% of the companies in the S&P 500 reporting actual results for Q3 to date, more companies are reporting actual EPS (78%) and actual sales (65%) above estimates compared to the 5-year averages. In aggregate, companies are reporting earnings that are 7.0% above the estimates.… Continue reading An Earnings Update