<Click on chart for larger image> Comment The chart above shows the weekly mutual fund flows as measured by the Investment Company Institute (ICI), current through July 31. The top panel in red measures flows into all equity funds, the middle panel in green shows flows into bond funds and the bottom panel in blue… Continue reading The Great Rotation … Between Bonds And Money Market Funds
Pimco – Bill Gross: Bond Wars Now that bonds have suffered a near Somme-like defeat in the past few months, fixed income investors are concerned about their prior conceptions of bonds as an asset class – an asset that has historically provided reliable income and stable to higher prices. This concept has been more than… Continue reading Bill Gross Defends Bonds
<Click on chart for larger image> Bloomberg.com – Treasuries Are Biggest Losers as Economic Surprise Index Gains Treasuries were the world’s worst-performing government bonds over the past 12 months as a measure of U.S. economic data showed figures are surpassing expectations by the most this year. Notes and bonds due in a decade or more… Continue reading The Citi Surprise Index Reaches Highest Level Of 2013
The Wall Street Journal – Investor Group Calls Richmond, Calif., Eminent Domain Plan Unconstitutional Banks representing some of the nation’s largest bond investors filed suit against the city of Richmond, Calif., on Wednesday to block plans by city officials to seize and buy mortgages using their powers of eminent domain. The lawsuit, filed in federal… Continue reading Eminent Domain Plan Put To The Test
Comment Yesterday Bill Gross tweeted the above question. Join our conference call later this morning as we discuss the market’s outlook in the wake of QE. <Click on chart for larger image> An explanation of the color coding can be found here
CNN Money – Stephen Gandel: I know who the next Fed Chairman will be Summers or Yellen? I have the answer. Who will be the next head of the Federal Reserve: Larry Summers or Janet Yellen? I have the answer. Really. How do I know? Because, as you may know, predicting who will be the… Continue reading The Battle For FOMC Chair
Real Time Economics (WSJ Blog) – Fed’s Pianalto: Ready to Scale Back QE if Labor Market Stays on Current Path The president of the Cleveland Federal Reserve Bank said Wednesday she would be ready to scale back the central bank’s $85 billion-per-month bond-buying program if the labor market continues to improve as it has over… Continue reading Another Federal Reserve President Offers Opinion On Taper
The Wall Street Journal – Detroit Rattles Muni Market Plan to Replace Current Sewer Bonds Raises Concerns Over ‘Safe’ Investments A fight over bankrupt Detroit’s sewer system threatens to reshape the nation’s $3.7 trillion municipal-bond market. The battle pits the city’s emergency manager, Kevyn Orr, against the fund companies, insurers and individuals that hold more… Continue reading Detroit’s Implications On The Muni Market
Jeremy Elson – Mega Millions and Powerball Odds: Can You Ever Expect A Ticket To Be Profitable? (Dec 2012) Mega Millions and Powerball are a popular multi-state lotteries in the United States that use what’s called a “progressive jackpot.” If no one wins the jackpot in a lottery drawing, the prize money is carried forward… Continue reading Thinking Of Playing The Lottery?
Conference Call Presentation/Charts of the Week [audio:https://www.biancoresearch.com/bianco/SubscriberArea/503842-712668.mp3|titles=Conference Call ] Topics Covered This Week Include: What Has Changed? Policy Changed, Not Data Dependent, Now On A Calendar! What “No Preset Course” Means The Federal Reserve’s (Poor) Forecasts With Forecasts Falling Why Is The Fed Talking About Exiting? Are “Financial Conditions” The 3rd Condition For Exiting Purchases?… Continue reading Conference Call Presentation/Charts of the Week
Comment On August 8, 2013 at 9 AM CT (10:00 AM ET, 7:00 AM PT, and 15:00 BST), Bianco Research, in conjunction with Arbor Research & Trading, will be hosting a webcast/teleconference moderated by Jim Bianco. Join us Thursday as we make the case that the Federal Reserve will NOT taper at next month’s meeting.… Continue reading Will The Federal Reserve Taper Next Month?