<Click on chart for larger image> The New York Times – Time to Worry About Stock Market Bubbles With relatively little fanfare, the stock market has become expensive again. While the rest of economy has been growing frustratingly slowly for almost five years, stocks have been rising at a boomlike clip. An investment in the… Continue reading Is The Stock Market Overvalued
The Wall Street Journal – Wage Pressure Begins to Build Typically, wage growth is a negative for companies, which have successfully kept a lid on compensation for years, allowing them to boost margins and improve profits even amid slow sales growth. The cumulative effect has been stark. Employee compensation as a share of national income… Continue reading Are Wage Pressures Returning?
Bloomberg.com – Barry Ritholtz: Do We Need a 50-Year Bond? Even with the U.S.’s huge funding needs, interest rates headed lower. The hunger for U.S. Treasuries remains unsated, so much so that today we seem to be facing a shortage of long bonds. Here is a simple equation: Demand for Treasuries + ultra-low rates +… Continue reading 50-Year Treasuries?
<Click on chart for larger image> Real-Time Economics (WSJ Blog) – China’s Property Bubble Has Already Popped, Report Says China’s great real-estate bust has begun, says Nomura. A combination of a huge oversupply of housing and a shortage of developer financing is producing a housing market downturn that could drive China’s GDP to less than… Continue reading More Chinese Stress
The New York Times – Hedge Fund Moguls’ Pay Has the 1% Looking Up The 25 highest-earning hedge fund managers in the United States took home a total of $21.15 billion in compensation in 2013, according to an annual ranking published on Tuesday by Institutional Investor’s Alpha magazine. They earned that hefty sum in a… Continue reading Underperform Like A Billionaire Hedge Fund Manager
USA Today – U.S. to banks: ‘No such thing as too big to jail’ Foreshadowing possible criminal charges against banking giants Credit Suisse and BNP Paribas, Attorney General Eric Holder offered an ominous warning Monday, saying, “There is no such thing as too big to jail.” “Some have used that phrase to describe the theory… Continue reading Is Too Big To Jail Now A Thing Of The Past?
<Click on chart for larger image> The Reformed Broker – Josh Brown: Notes from the Ira Sohn Conference, 2014 Paul Tudor Jones, legendary trader and hedge fund manager at Tudor Investments, runs almost $14 billion. This is actually his first appearance at Sohn. He’s psyched to watch 24 tonight. “Macro trading has probably been as… Continue reading Macro Trading
Comment Jim Bianco was on CNBC with Rick Santelli and Charles Biderman on Friday discussing the stock and bond markets’ reaction to the jobs number. To view the interview, click on the image above. To view any of our recent interviews, click here. MoneyBeat (WSJ Blog) – Strong Job Creation, Weak Stock Market The stock… Continue reading Discussing The Jobs Market
[pageview class=”PDFViewer” url=”https://www.biancoresearch.com/bianco/wp-content/plugins/PDFViewer/plugin.php?id=185″] Comment The first three charts below detailing earnings expectations/results. The first chart shows 72% of the 376 companies who have reported beat expectations, which is slightly higher than the last several quarters. Because the beat rate is well above 50%, the Q1 earnings growth rate (second chart) is surging higher to around… Continue reading An Earnings Update
Milken Institute – Credit Markets: What’s Next? Institute Chairman Mike Milken moderates our annual discussion on the state of the credit markets, joining a panel of seasoned investors. The future model of the $10-trillion housing finance market is unclear as Congress debates plans to wind down Fannie and Freddie. What are the tradeoffs involved in… Continue reading The State Of The Credit Markets
Bloomberg.com – Can’t Find Enough 30-Year Treasuries to Buy? Here’s Why In a world awash with U.S. government bonds, buyers of the longest-term Treasuries are facing a potential shortage of supply. Excluding those held by the Federal Reserve, Treasuries due in 10 years or more account for just 5 percent of the $12.1 trillion market… Continue reading Where Have All The Bonds Gone?