FactSet – Earnings Insight For July 26, 2013 Increase in Earnings Growth Rate to 1.8% from 1.0% during the Past Week The blended earnings growth rate for the second quarter is 1.8% this week, above the growth rate of 1.0% last week. Upside earnings surprises reported by companies in multiple sectors accounted for the increase… Continue reading Earnings Season At The Halfway Point
The Wall Street Journal – Jon Hilsenrath: Federal Reserve ‘Doves’ Beat ‘Hawks’ in Economic Prognosticating As the U.S. emerged from recession in the summer of 2009, Janet Yellen, then president of the Federal Reserve Bank of San Francisco, took a grim view of the economy’s prospects. “I expect the pace of the recovery will be… Continue reading Ranking Federal Reserve Officials’ Economic Predictions
The Financial Times – Robin Harding: US economy takes Olympic leap to add 3% to GDP US economic history will be rewritten this week, as the most far-reaching methodological changes in years will add the equivalent of a country the size of Belgium to output in the world’s largest economy. The most important change by… Continue reading Rewriting Economic History
CNBC – Wall Street wants Yellen, not Summers, as next Fed chief Wall Street overwhelmingly believes President Obama will and should pick Janet Yellen to be the next chairman of the Federal Reserve, according to a survey. Preliminary results of the CNBC Fed Survey for July show 70 percent of the 40 participants who responded… Continue reading Yellen vs. Summers
The Wall Street Journal – Yield Seekers Get Their Second Wind From Fed High-yielding corners of the stock market took a hit earlier in the summer, a casualty of worries over the Federal Reserve’s commitment to easing. The blow wasn’t a fatal one: Heavy demand for new shares of dividend-paying companies shows that money managers… Continue reading Hunting For Yield
Bloomberg.com – U.S. Paring Debt Sales Vindicates Anti-Austerity Since 2008 For the first time in three years, the U.S. Treasury will announce plans to begin reducing debt sales in a victory for stimulus over austerity, the majority of Wall Street’s biggest bond dealers say. Government sales will be cut by $40 billion to $100 billion… Continue reading The Treasury’s Quarterly Funding Needs
The Wall Street Journal – SAC Operating Plan to Be Negotiated The U.S. government plans to negotiate an agreement to allow SAC to continue its operations as it faces insider-trading charges The U.S. government plans to negotiate an agreement to allow SAC Capital Advisors LP to continue its operations even as it faces criminal insider-trading… Continue reading SAC’s Insider Trading Case
Zero Hedge (blog) – “The Taper Is Coming” – What Wall Street Thinks But when, and by how, much does Wall Street see the end of tapering, and what is the sell-side consensus? The list below summarizes the current view by bank. Goldman – Sept taper, – $20b in Tsys JPMorgan – Sept taper Credit… Continue reading Timing The Taper
The Associated Press – Exclusive: Signs of declining economic security Four out of 5 U.S. adults struggle with joblessness, near poverty or reliance on welfare for at least parts of their lives, a sign of deteriorating economic security and an elusive American dream. Survey data exclusive to The Associated Press points to an increasingly globalized… Continue reading Breaking Down The Economy By Demographic
Tim Duy’s Fed Watch (blog) – Tim Duy: Negative Feedback Loops? In my opinion, we no longer know the Fed’s reaction function. The reaction function does not appear to be entirely dependent on unemployment and inflation. There was never any reason to adjust QE on that basis, that’s why Bernanke’s post-FOMC comments caught everyone by… Continue reading The Federal Reserve’s Reaction Function
MoneyBeat (WSJ Blog) – Backing Off From QE Recent signals suggest central bankers are backing off from quantitative easing for three reasons–two obvious and one less so. First, is that QE has done its job…The second is that central bankers are starting to worry that the benefits of additional QE are starting to be offset… Continue reading Why Central Banks Are Backing Off QE
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