Zero Hedge (Blog) – The Problem With Forward P/Es As a reminder, it is important to remember that when discussing valuations, particularly regarding historic over/under valuation, it is ALWAYS based on trailing REPORTED earnings. This is what is actually sitting on the bottom line of corporate income statements versus operating earnings, which is “what I… Continue reading A Look At P/E Ratios
The Financial Times – Stock debuts alive and kicking but yet to roar Capitalism is back – alive and kicking. That, at least, is the impression created by the rush of companies debuting on the world’s share markets. Global “initial public offering” volumes have already exceeded $38bn in 2014, more than twice as high as… Continue reading Reason For Caution On IPOs
Zero Hedge (Blog) – Peak Complexity And Confusion: March FOMC Statement Has A Record 877 Words In It Confused why the market is confused by the latest FOMC jibberish, whose “new and improved” forward guidance is a total disaster, which was to be expected now that the old has been scrapped and is dead and… Continue reading Comparing Fed Assets To Words In FOMC Statements
Conference Call Presentation/Charts of the Week Audio [audio:https://www.biancoresearch.com/bianco/SubscriberArea/032014.mp3|titles=Conference Call ] Topics Covered This Week Include: Focus On Weather US GDP Forecasts Surprise Indexes Falling All About The Fed Earnings Are Not Good Guidance Is Terrible Market Valuation Is “Full” Revenues Are Poor Is Inflation Heating Up? Russia/Ukraine Crisis China GDP – What Is A “Hard… Continue reading Conference Call Presentation/Charts of the Week
Watch the latest video at video.foxbusiness.com Comment Jim Bianco was on FOX Business yesterday discussing the Federal Reserve. To view the interview, click on the image above. To view any of our recent interviews, click here. Real Time Economics – What to Watch From the Fed Meeting This is not only Ms. Yellen’s first meeting… Continue reading What To Expect From Yellen Today
<Click on chart for larger image> Economonitor – Has Commercial Bank Lending Peaked? One of the concerns that inflation hawks continue to discuss is the potential for trouble when banks start lending out all that liquidity that’s sitting on their balance sheets. At that point, we’re told, inflation will return with a vengeance and the… Continue reading Bank Loans Hit a New High
<Click on chart for larger image> <Click on chart for larger image> Value Walk – Almost 85% of the S&P 500 companies providing Q1 2014 earnings guidance have guided downwards S&P 500 earnings growth projection down from 4.4% to .3% FactSet Senior Earnings Analyst John Butters gives an overview of the rapid change in expectations… Continue reading Company Guidance
<Click on chart for larger image> The Wall Street Journal – Yuan Continues Fall Against U.S. Dollar China’s yuan has erased most of the gains made in the past year, as it fell sharply for the third consecutive day against the U.S. dollar after the central bank doubled the currency’s trading band over the weekend.… Continue reading The Yuan Continues To Weaken
The Wall Street Journal – How Putin Parried Obama’s Overtures on Crimea Russia’s rapid move this week to absorb Crimea came despite breakneck U.S. diplomatic efforts, showing the limits of that approach with Moscow and marking a renewed chill with an expansionist-minded partner still seen as vital to core American interests around the world. The… Continue reading More On The Crisis In Ukraine
<Click on chart for larger image> The Financial Times – EM central banks sell US government bonds Central banks and hedge funds were large sellers of US Treasury debt at the start of the year, according to the latest official data released on Tuesday, as stress among emerging market countries intensified. Declines in Treasury holdings… Continue reading Emerging Markets Sell U.S. Treasuries, China Increases It’s Holdings Slightly In January
The New York Times – People Think We’re in a Recession. Don’t Blame Them. The United States economy emerged from recession in June 2009 and has been growing for nearly five years. Yet this week, an NBC News/Wall Street Journal poll of American adults found that 57 percent still think the economy is in recession.… Continue reading The Public Still Believes We Are In Recession