Newsclips
Stocks Are Overextended By This Measure
March 21, 2016
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The Financial Times – Central banks prove Einstein’s theory Albert Einstein is said to have defined insanity as doing the same thing over and over again and expecting different results. By failing to change their way of thinking since the global financial crisis, the world’s main central banks are proving Einstein right. Many in the… Continue reading Repeating The Same Mistakes And Expecting Different Results
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Comment Yesterday we hosted a conference call titled On Rebounds And Election Betting. The mp3 and handout are below. Audio [audio:https://www.biancoresearch.com/bianco/SubscriberArea/031716.mp3|titles=Conference Call ] [pageview class=”PDFViewer” url=”https://www.biancoresearch.com/bianco/wp-content/plugins/PDFViewer/plugin.php?id=291″]
Bloomberg.com – More Hedge Funds Shuttered Than Opened During 2015 Turmoil Hedge-fund shutdowns outnumbered startups last year for the first time since 2009, according to data firm Hedge Fund Research, as the global industry contracted amid market volatility. In the last quarter, 305 funds closed compared with 257 a year earlier, taking the total for… Continue reading Struggling Hedge Funds
<Click on graphic for larger image> The Wall Street Journal – Global Currencies Soar, Defying Central Bankers From Japan to Norway, currencies are rising despite policies aimed at weakening them Efforts by many of the world’s central banks to weaken their currencies are failing, raising concerns about whether policy makers are losing the ability to… Continue reading Currencies Stump Central Bankers
<Click on graphic for larger image> Bloomberg.com – Dow’s Freakish Bounce Makes Investors Whole, Can’t Erase Doubts Crude rally, patient Fed boost benchmark by 12% since Feb. 11 Signs of caution amid earnings slump, investor withdrawals Just as fast as U.S. stocks tumbled in what was the worst-ever start to a year, they have staged… Continue reading DJIA Unchanged For The Year, We Are All Still Energy Traders
The Wall Street Journal – The Fed’s Credibility Conundrum The central bank handcuffed its own policy, and the data didn’t tell it to Normal is a lot harder than it looks. The Federal Reserve on Wednesday not only refrained from raising interest rates, but it telegraphed that it would almost certainly raise rates at an… Continue reading More On Fed Credibility
The Wall Street Journal – Half of U.S. May Endure ‘Lost Decade’ of Depressed Employment At the current pace of improvement, employment rates across the U.S. won’t return to normal levels until the 2020s, “amounting to more than a relative ‘lost decade’ of depressed employment for…half of the country,” University of California, Berkeley, economist Danny… Continue reading Is This Why The Electorate Is Unhappy?
The Financial Times – Bar on Lula throws Brazil into crisis Markets bet on government collapse as court blocks appointment Brazil was teetering on the brink of a constitutional crisis after a judge blocked President Dilma Rousseff’s appointment of her predecessor, Luiz Inácio Lula da Silva, to her cabinet, prompting clashes in Congress and on… Continue reading Brazil
<Click on graphic for larger image> The Economist – The blockchain in finance: Hype springs eternal Distributed ledgers are the future, but their advent will be slow The blockchain is the technology underpinning bitcoin, a digital currency with a chequered history. It is an example of a “distributed ledger”: in essence, a database that is… Continue reading Blockchain
<Click on graphic for larger image> Arbor Quantitative Analytics – FOMC – Willing to Wait It Out for Additional Inflation The FOMC seems willing to wait for further confirmation of a return to 2% YoY inflation before committing to additional tightening. The median ‘dot’ for the end of 2016 has been reduced to 0.875%, implying… Continue reading Inflation