The Wall Street Journal – Gentlemen May Prefer Bonds, But More Traders Take Stocks Revenue from bond trading on the decline, while stock trading picks up steam Wall Street’s trading business is going through a profound change—and bonds are on the wrong side of it. When big banks start reporting earnings next week, they will… Continue reading Bond Trading
The Economist – Fund management: Two’s a crowd A new paper suggests big asset managers could warp markets COULD asset managers pose a systemic risk to the economy? Some regulators, looking for the cause of the next crisis, worry that they might, particularly at times when markets are already volatile and liquidity ebbing. Fund-management firms,… Continue reading Do Large Fund Managers Pose A Systemic Risk?
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<Click on chart for larger image> Bloomberg Business – Four Ways the Oil Price Crash Is Hurting the Global Economy Remember when the oil price plunge was going to be a huge economic tailwind? The negative effects of lower oil—namely the large-scale cuts to capital expenditures—are having a large and immediate impact on global gross… Continue reading Rig Counts As A Leading Indicator Of Crude Supply
Comment Jim Bianco was on Bloomberg TV discussing the Federal Reserve. To view the interview, click on the image above. To view any of our recent interviews, click here.
<Click on chart for larger image> Politico.com – Gallup gives up the horse race Gallup has been the country’s gold standard for horse-race election polling ever since its legendary founder, George Gallup, predicted Franklin Roosevelt’s landslide reelection in 1936. But after a bruising 2012 cycle, in which its polls were farther off than most of… Continue reading Gallup Bows Out Of Presidential Polling
The Wall Street Journal – OECD Leading Indicators Point to Continued Slowdowns Growth is set to slow in each of the world’s three largest economies, according to leading indicators released Thursday by the Organization for Economic Cooperation and Development. The Paris-based research body said its gauges of future economic activity—which are based on information available… Continue reading More Forecasts Of Slower Growth
<Click on graphic for larger image> Real Time Economics (WSJ Blog) – Less Than a Third of Unemployed Americans Get Benefit Checks The number of unemployed Americans dipped below eight million last month for the first time since 2008–but that figure doesn’t entirely reflect job growth. Unemployment dropped to a new low the same month… Continue reading Measuring The Labor Force
Real Time Economics (WSJ Blog) – U.S. Consumers Splurged with Gas Savings After All, Study Finds Americans have saved a bundle at the pump since gas prices began to plunge in the middle of last year. So did households tuck the money away, pay down debt or splurge? New research, based on examining the spending… Continue reading The Correlation Between Lower Gas Prices & Consumer Spending
Bloomberg.com – Morgan Stanley Bond Team Faces the Question: Can Fed Avoid QE4? A year that started with almost everyone calling for the Federal Reserve to raise interest rates is drawing to a close with one of the world’s largest bond dealers saying there’s increasing chatter about the need for additional stimulus. Morgan Stanley, one… Continue reading Bring On QE4
The Financial Times – Dollar strength is only part of earnings hit Blame the dollar. That is what US companies are likely to say over the next few weeks as they report third-quarter earnings. SABMiller, PepsiCo and Yum Brands have already expressed their displeasure. And the dollar gripes will not just be around for the… Continue reading The Dollar’s Effect On Earnings
Bloomberg.com – Why the Ride up for Interest Rates Could Be Much Bumpier Than the Road Down Global interest rates have been in decline for the past 30 years, but a growing number of economists argue that this could soon be about to change…Charles Goodhart argues that this trend has been caused by the influx… Continue reading The Latest Call For A Bottom In Rates