CNBC – US Fiscal Cliff Is ‘Major Concern’ for World: IMF’s Zhu The U.S. needs to provide more clarity to ease fears about the “fiscal cliff’” of tax hikes and spending cuts that are due to kick in in January, Zhu Min, deputy managing director of the International Monetary Fund (IMF) said on Friday. The… Continue reading Today’s Edition Of Fiscal Cliff Panic
<Click on chart for larger image> The Wall Street Journal – Investors Fleeing Stocks in Droves; No End in Sight Not only have investors been pulling cash out of stock funds all year, but the pace of the outflows has picked up considerably. As we noted earlier today, investors pulled $10.6 billion out of stock… Continue reading Mutual Fund Outflows Accelerate
<Click on chart for larger image> MarketBeat (WSJ Blog) – Correlations Keep Falling: Stock Pickers Rejoice Hey stock pickers, we’ve got more good news for you: Correlations have reverted back to some of the lowest levels of the year. Correlation between individual stocks measures their tendency to move up and down in unison regardless of… Continue reading Market Correlation
The Economist – Buttonwood: Precious relic Gold remains popular, despite the doubts of economists GOLD is the most difficult asset class to analyse. For a start, it divides opinion so sharply. Its supporters have a quasi-religious fervour, regarding the metal as the one true source of value. Its detractors (a group that includes many economists)… Continue reading Gold
<Click on chart for larger image> Fox Business – Jobless Claims Data Skewed Downward According to the spokesman, the reason that state’s claims numbers fell short was because the state left out a pile of unprocessed claims related to seasonal factors around the beginning of the fourth quarter, which began Oct. 1… Coming a month… Continue reading Questioning Initial Claims
The Financial Times – Geithner has phone friend at BlackRock When Tim Geithner, US Treasury secretary, wants a first-hand account of how financial markets are interpreting government policies or reacting to the latest crisis, the man he turns to most often is Larry Fink of BlackRock. Mr Fink, the group’s chief executive, featured more frequently… Continue reading Geithner Phones A Friend
<Click in chart for larger image> The Financial Times – End of US ‘junk’ bond rally may be near A rally in the riskiest part of the US corporate bond market that has pushed yields to record lows may have run its course. Fund managers are warning that rates on “junk” bonds may not compensate… Continue reading Junk Bonds
None Today
Today 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 today as we discuss the election’s potential impact on the markets and the economy. [pageview class=”PDFViewer” url=”https://www.biancoresearch.com/bianco/wp-content/plugins/PDFViewer/plugin.php?id=96″] Due to increased participation… Continue reading Heading Into The Election And Beyond
Business Insider – Jim Bianco Has A Really Surprising Theory For How Mitt Romney Is Tanking The Market Independent analyst Jim Bianco just just wrapped a very bold presentation at The Big Picture conference, where he talked about the weak economy and critiqued the actions of the Fed. The most interesting comment came at the… Continue reading Could A Romney Win Be Bad For The Markets?
The Wall Street Journal – Stocks Skid Into Earnings Pothole A disappointing start to corporate earnings season threw the health of U.S. companies back to the forefront of investors’ minds on Wednesday…Downbeat comments from aluminum producer Alcoa and oil giant Chevron set the tone for the day and confirmed what many investors and analysts had… Continue reading Earnings
<Click on chart for larger image> The Wall Street Journal – Spanish Bond Yields Rise Spanish government bond yields climbed and the country’s benchmark equity index fell Thursday after Standard & Poor’s downgraded the nation’s credit rating to just above junk status. With Moody’s Investors Service already assessing Spain’s credit-worthiness at its lowest investment level,… Continue reading Spain