The New York Times – Justin Wolfers: What Good Marathons and Bad Investments Have in Common To better understand goal-motivated behavior, Eric Allen, Patricia Dechow,Devin Pope and George Wu downloaded the online results of nearly every major marathon and many minor marathons around the world, giving them a database of nearly 10 million marathon finishes. Viewed from afar, the… Continue reading Investing And Marathons
FiveThrityEight Economics (blog) – The Potential Bubble the Federal Reserve Cares Most About So what bubble are we talking about? It’s not the one you might expect. Most of us worry about bubbles in housing and stocks because that’s what we own. But those markets are not really what worries the Fed the most. Central… Continue reading Fighting Bubbles
<Click on chart for larger image> The Wall Street Journal – Yuan Falls to Weakest Level in More Than a Year Currency Fell as Low as 6.2390 Versus the Dollar, its Lowest Level Since February 2013 China’s yuan fell to its weakest level in more than a year Tuesday as Beijing signals it isn’t done… Continue reading The Yuan & China
The Wall Street Journal – By One Measure, Last Week Was the Worst for IPOs in a Decade Need any more proof that the market for initial public offerings is showing cracks? Look no further than the ten companies that went public last week. Eight of those 10 U.S.-listed IPOs priced below their expected range,… Continue reading A Bad Time For IPOs
A Discussion Of Recent Market Volatility A transcript of the April 16, 2014 conference call. Audio Link of Conference Call Handout (also shown below) [hana-flv-player video=”https://www.biancoresearch.com/bianco/SubscriberArea/041614.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” /] <Click above to view webcast> [pageview class=”PDFViewer” url=”https://www.biancoresearch.com/bianco/wp-content/plugins/PDFViewer/plugin.php?id=182″] Audio [audio:https://www.biancoresearch.com/bianco/SubscriberArea/041614.mp3|titles=Conference Call ]
The Gulf Times – Japan bond market liquidity dries up as BoJ holding crosses ¥200tn The Bank of Japan’s massive purchases of government debt hit a milestone this week, sucking liquidity out of the market to such an extent that the benchmark 10-year bond went untraded for more than a day, the first time in… Continue reading How Central Banks Kill Bond Markets
Tax Foundation – Tax Freedom Day 2014 is April 21, Three Days Later Than Last Year Tax Freedom Day is the day when the nation as a whole has earned enough money to pay its total tax bill for year. A vivid, calendar-based illustration of the cost of government, Tax Freedom Day divides all federal,… Continue reading Happy Tax Freedom Day
Bloomberg.com – Wall Street Bond Dealers Whipsawed on Bearish Treasuries Bet Betting against U.S. government debt this year is turning out to be a fool’s errand. Just ask Wall Street’s biggest bond dealers. While the losses that their economists predicted have yet to materialize, JPMorgan Chase & Co. (JPM), Citigroup Inc. (C) and the 20… Continue reading Betting Against Bonds
Real Time Economics (WSJ Blog) – Jon Hilsenrath: Alternative Jobless Measures Reinforce Fed’s “Low-For-Long” Message Federal Reserve Chairwoman Janet Yellen has been emphasizing alternative measures of unemployment in her assessment of the economy’s slack. On their current trajectory, some of these measures look like they are years away from reaching levels that would be considered… Continue reading Hilsenrath Decodes Some Fedspeak
<Click on chart for larger image> MoneyBeat (WSJ Blog) – Risk of Stock Pullback Continues Investors breathed a sigh of relief last week as major stock indexes recovered almost all their recent losses. Talk of a major downdraft faded. Many money managers warned clients, however, that the risk of a sharp pullback has been delayed,… Continue reading Looking For A Correction
The Wall Street Journal – Why This Bull Market Feels Familiar It Has Lots in Common With the ’90s Rally, but With Stronger Headwinds Stock investors should brush up on their Macarena skills and then sit down for a few episodes of “Seinfeld.” These days, it’s feeling a lot like the 1990s, some say. For… Continue reading Comparing Today’s Stock Market To The 1990’s Market