The Financial Times – The world gears up for a surge in the US dollar As a symbol of how the US punches above its weight, nothing beats the pre-eminence of its currency. The US may account for just a fifth of global gross domestic product, but dollar assets make up three times as great… Continue reading The Impact Of A Surging Dollar Across The Globe
Comment On Thursday Jim hosted an internal conference call discussing the Fed, the economy and China. To listen to a replay of the call, please click on the mp3 or webcast link below. Audio [audio:https://www.biancoresearch.com/bianco/SubscriberArea/080315.mp3|titles=Conference Call ] [hana-flv-player video=”https://www.biancoresearch.com/bianco/SubscriberArea/080315.flv” width=”600″ height=”495″ description=”” player=”3″ autoload=”false” autoplay=”false” loop=”false” autorewind=”true” splashimage=”https://www.biancoresearch.com/bianco/wp-content/themes/twentyten/images/splash.jpg”/] Webcast (Click to download if the flash… Continue reading Discussing The Markets
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The Wall Street Journal – High-Yield Jitters Lead Some Advisers to Sell ETFs An interest-rate rise could trigger an exodus, they say, and they are trying to get out first Some financial advisers have been trimming their clients’ exposure to high-yield bond exchange-traded funds or cutting it altogether in recent months. They are worried that… Continue reading What Are Credit Spreads Telling Us?
<Click on chart for larger image> Business Insider – (May 19, 2015) GUNDLACH: ‘The bond market, in its cynical self, wants a depression’ The commentators on CNBC “don’t get it,” Gundlach said, in regard to statements that the recent spike in interest rates was due to fears of Fed tightening. “The long bond wants the… Continue reading Does The Bond Market Think A Rate Hike Would Be Bad?
Bloomberg.com – William Pesek: China’s Headaches Are the Fed’s, Too It’s time to call Beijing’s aggressive stock-market intervention what it really is: quantitative easing, Chinese style. With deflation pressures mounting, China’s central bank would seem to have plenty of incentive to follow counterparts in Japan, the U.S. and Europe down to zero rates and beyond.… Continue reading China Stock Market History
<Click on chart for larger image> The Wall Street Journal – The Six-Year Slough New GDP revisions show the worst recovery in 70 years was even weaker. One measure of America’s lowered expectations is that so many economists cheered Thursday’s second quarter growth estimate of 2.3%. It’s a rebound from the first quarter slump! The… Continue reading GDP Revisions
<Click on chart for larger image> Bloomberg.com – August’s Record of Bond Gains Augurs Well for Treasury Bulls Treasuries are poised to rally during next month’s summer vacation season if history is any guide. U.S. government securities gained in 15 of the past 17 Augusts, according to Bank of America Corp. data. Investor appetite for… Continue reading August Is The Best Month To Own Bonds On A Seasonal Basis
The New York Times – Bailout Money Goes to Greece, Only to Flow Out Again The Greek businessman was nervous as he carried a suitcase stuffed with cash through passport control at the Athens airport a few months ago. But the distracted and overworked customs officials waved him through. A few hours later the man… Continue reading Will Greece Get More Bailout?
MarketWatch – Burden to bear: Fewer companies, sectors supporting U.S. stocks The lion’s share of gains that have been racked up by the S&P 500 so far this year come mainly from two sectors: health-care and consumer discretionary stocks. In fact, five out of the index’s 10 main sectors are nursing year-to-date losses. The result… Continue reading The Narrow Stock Market Rally
<Click on graphic for larger image> Bloomberg.com – The Italian Job Market Is So Bad That Workers Are Giving Up in Droves As Italy emerges from recession, job creation is top priority Seven years of economic setbacks can break one’s spirit. At least that seems to be the case in Italy, where many of the… Continue reading The Pain In Italy
The Economist – Hedge funds: Fatal distraction Pension schemes should avoid an expensive form of fund management THEY are sometimes portrayed as invincible, with enough cunning to outfox financial markets and enough clout to outgun governments. But hedge funds have been bested by an unassuming rival: exchange-traded funds (ETFs). These claim no special expertise, just… Continue reading Lagging Hedge Funds