<Click on graphic for larger image> The Wall Street Journal – Now Companies Are Getting Paid to Borrow Investors are now paying for the privilege of lending their money to companies, a fresh sign of how aggressive central-bank policy is upending conventional patterns in finance. German consumer-products company Henkel AG and French drugmaker Sanofi SA each sold… Continue reading Corporate Debt In Europe
Business Insider – CUBAN: There is ‘no doubt in my mind’ the market will crash if Trump wins Mark Cuban is bearish on the stock market in the event of a Trump presidency. In an interview with Fox Business’ Neil Cavuto on Tuesday, the investor and reality-TV star said that the uncertainty from a win by Republican… Continue reading Billionaires Disagreeing
Bloomberg Business – Fading College Dream Saps U.S. Economy of Productivity Miracle Productivity as measured by employee output per hour has fallen for three straight quarters, the Labor Department reported last month. Productivity growth has averaged 0.4 percent since 2011, after averaging 1.9 percent in the 1980s and 1990s. Less-educated workers have fewer career options, even… Continue reading Productivity And College
What Will The Fed Do And Why Does It Matter? A transcript of the September 1, 2016 conference call. Handout Audio [audio:https://www.biancoresearch.com/bianco/SubscriberArea/090116.mp3|titles=Conference Call ] Webcast (download if flash video does not work below) [hana-flv-player video=”https://www.biancoresearch.com/bianco/SubscriberArea/090116.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=323″]
<Click on graphic for larger image> The Wall Street Journal – Time to Worry: Stocks and Bonds Are Moving Together Share prices and bond yields moved in the same direction in just 11 of the past 30 trading days, close to the lowest since the start of 2007 A generation of traders have grown up with… Continue reading The Stock/Bond Relationship
<Click on chart for larger image> The Wall Street Journal – Junk Debt Getting Crowded Spreads on high-yield bonds are narrowing, eroding a selling point of the investments High-yield corporate bonds have been a hot investment in 2016. Now, some investors are fretting that the debt may have gotten too popular. Drawn by higher yields than… Continue reading High Yield Spreads Narrow
<Click on graphic for larger image> The Financial Times – Free Lunch: Where did all the productivity go? And what would it take to make it grow again? To understand the slowdown in productivity growth and how to revive it, it helps to understand what has driven it. Greater output per hour worked can be the… Continue reading More On Falling Productivity
FactSet – Earnings Insight With 498 of the companies in the S&P 500 reporting earnings to date for Q2 2016, 70% have reported earnings above the mean estimate and 53% have reported sales above the mean estimate. For Q2 2016, the blended earnings decline for the S&P 500 is -3.2%. The second quarter marked the… Continue reading A Historical Look At Earnings
<Click on graphic for larger image> The Wall Street Journal – Could the ECB Start Buying Stocks? Central bank buying has boosted bond markets; now equities might be in their sights Central banks have become some of the biggest investors in bond markets. Now some in the financial markets think stocks should benefit more from their largess.… Continue reading What’s Next For The ECB?
<Click on chart for larger image> Bloomberg.com – JPMorgan Warns Europe’s Bond Investors About a World Without QE As survey predicts more ECB easing, JPM looks further ahead It recommends cutting positions in peripheral euro-zone bonds While economists may be expecting the European Central Bank to extend monetary stimulus as soon as this week, JPMorgan Chase… Continue reading More On The ECB
Reuters – Trump says U.S. interest rates must change as Fed weighs rate hike Republican presidential nominee Donald Trump, who has previously accused the Federal Reserve of keeping interest rates low to help President Barack Obama, said on Monday that the U.S. central bank has created a “false economy” and that interest rates should change. “They’re… Continue reading Trump On Yellen