MoneyBeat (WSJ Blog) – Money Poured into Stock ETFs in October Investors continued to pile into stock exchange-traded funds last month. According to preliminary data from asset manager BlackRock Inc.BLK +0.94%, the bulk of the cash was directed at U.S. stock ETFs; some $20.9 billion went into U.S. stock ETFs last month through Oct. 30,… Continue reading Mutual Fund Flows
<Click on chart for larger image> <Click on chart for larger image> Crain’s – Why corporate revenue trends should make you nervous As third-quarter earnings season grinds along, it’s becoming clear that the biggest companies are struggling for revenue growth. And that’s ominous for their workers. With the notable exception of Boeing Co.’s 11 percent… Continue reading An Earnings Update
<Click on chart for larger image> Comment The stories below talk about the booming business of shipping crude oil by rail. However, the chart above suggest this business has peaked. As we detailed a few weeks ago, the Quebec train crash is turning out to be a bigger deal than these stories let on. The… Continue reading Shipping Crude Oil By Rail
The Wall Street Journal – Investors Return to IPOs in Force Investors are stampeding into initial public offerings at the fastest clip since the financial crisis, fueling a frenzy in the shares of newly listed companies that echoes the technology-stock craze of the late 1990s. October was the busiest month for U.S.-listed IPOs since 2007,… Continue reading IPOs
Real Time Economics (WSJ Blog) – FX Math: Weak Job Markets, Washington Rancor Mean No Taper in 2014 Put a lid on the taper talk. The Federal Reserve won’t be cutting back on its bond-buying program this year–and it probably won’t do it next year either. Blame the never-ending gridlock in Washington and the flaccid… Continue reading Timing The Taper
Real Time Economics (WSJ Blog) – Emerging Markets Rally Worries Some Analysts Investors have rediscovered developing countries, sending their stocks up 16%, as a group, since late June. A growing number of analysts who follow these countries, known in the trade as emerging markets, find that troubling. Their message: Proceed at your own risk. Emerging… Continue reading Emerging Markets
Real Time Economics (WSJ Blog) – Number of the Week: Why Don’t More People Want a Job? 34.3%: Share of Americans over age 16 who say they don’t want a job, up from about 30% two decades ago. Americans aren’t just leaving the labor force — those who have left it are drifting further away…The… Continue reading The Jobs Market
The Financial Times – Wolfgang Munchau: Worry about the euro, not the European Union The existential danger to the euro is no longer a speculative attack, a bank run or the rise of extremist parties, but sheer exhaustion. Benoît Coeuré, a member of the ECB’s executive board, warned last week that the eurozone might suffer… Continue reading Ditch The Euro To Save The EU
The Wall Street Journal – The Outsiders Who Saw Our Economic Future The experts keep getting it wrong. And the oddballs keep getting it right. Over the past five years of business history, two events have shocked and transformed the nation. In 2007 and 2008, the housing market crumbled and the financial system collapsed, causing… Continue reading Don’t Listen To The Experts
None Today
Is It All About The Federal Reserve? A transcript of the October 30, 2013 conference call. Audio Link of Conference Call Handout (also shown below) [hana-flv-player video=”https://www.biancoresearch.com/bianco/SubscriberArea/103013.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=153″] Audio [audio:https://www.biancoresearch.com/bianco/SubscriberArea/103013.mp3|titles=Conference Call ]
<Click on chart for larger image> Bloomberg.com – Higher Homeownership Poses Risk to Employment With greater homeownership may come greater unemployment. As more people own their own homes, they gradually interfere with efficient functioning of labor markets, leading to higher levels of joblessness, economists David Blanchflower and Andrew Oswald wrote in a policy paper published… Continue reading Homeownership & Joblessness