<Click on chart for larger image> The Financial Times – A kingdom fit for an oil price ordeal Saudi Arabia has been showing that in hydrocarbons only the fittest keep market share A new battle is breaking out in the Middle East as 2014 draws to a close. Thankfully, no blood will be spilled in… Continue reading Crude And Growth, The Relationship Continues
<Click on chart for larger image> The Wall Street Journal – Growth in U.S. Home Prices Continued to Downshift October S&P/Case-Shiller Index Rose 4.6%, Down From September The yearly growth in home prices across the U.S. continued to downshift in October, according to a home price report released Tuesday. The downtrend is sure to add… Continue reading Home Price Gains Back To Zero
Real Time Economics (WSJ Blog) – Will the Labor Force See a Resurgence? The Question Divides Economists Monday’s Outlook column explored one of the biggest debates in economics in recent years: whether an improving jobs market will revive the share of the U.S. population in the labor force. Since 2007, the share of people over… Continue reading Economists Debate Labor Force Participation
City Room (NYT Blog) – Exit-Door Absurdism on the Bus New York City bus riders have undoubtedly noticed a sign that instructs them to exit by the rear doors. But a recorded announcement periodically directs them to use the center doors. To make matters worse, the only doors to which both messages can possibly refer… Continue reading The Fed Seems To Have The Same Problem
The Financial Times – Gideon Rachman: Eurozone’s weakest link is the voters The rise of anti-system parties threatens a currency that depends on consensus The euro crisis is back. An election in Greece next month and the probable victory of Syriza, a far-left party, will frighten politicians and investors. Once again they will be engaged… Continue reading Greece And The Euro
<Click on chart for larger image> MoneyBeat (WSJ Blog) – Investors Pile Into ETFs at Record Pace It was another banner year for ETFs. Investors poured cash into U.S.-based stock exchange-traded funds at the fastest pace on record this year, according to research firm Lipper. As of Christmas Eve, U.S. stock ETFs have seen more… Continue reading Investors Love ETFs (Because They Don’t Have Active Managers)
MoneyBeat (WSJ Blog) – S&P’s Not-Losing Streak Breaks Different Kind of Record With just two trading days left in 2014, it’s mathematically assured that the S&P 500 will finish the year without ever having four consecutive down days. That’s never happened before in the 90 or so years since Standard & Poor’s launched its first… Continue reading Stock Market Numerology
Business Insider – Henry Blodget: 14 Meaningless Phrases That Will Make You Sound Like A Stock-Market Wizard “The easy money has been made.” “I’m cautiously optimistic.” “It’s a stockpicker’s market.” “It’s not a stock market. It’s a market of stocks.” “We’re constructive on the market.” “Stocks are down on ‘profit taking.'” “The trend is your… Continue reading How To Speak Like A Stock Market Pro
Comment As the quarter is about to end, the next two charts show how much earnings estimates have taken a hit. We detailed this last week. <Click on chart for larger image> <Click on chart for larger image> So what can we expect 2015 estimates to do (second chart above)? See the blue lines in… Continue reading Earnings Outlook
Bloomberg.com – U.S. Bond Sentiment Worst Since Disastrous ’09 as Fed Shifts With Federal Reserve Chair Janet Yellen poised to raise interest rates in 2015 for the first time in almost a decade, prognosticators are convinced Treasury yields have nowhere to go except up. Their calls for higher yields next year are the most aggressive… Continue reading Everyone Is Still Bearish Bonds
The Financial Times – Rush for exposure to US economic recovery drives ETF inflows A scramble for exposure to the US’s economic recovery dominated flows into fast-growing exchange traded funds in 2014, and contrasted with fading investor enthusiasm for Europe. International flows into all ETFs with exposure to the US this year were equivalent to… Continue reading ETF Flows