Newsclips
The May 4, 2018 CoT Report
May 7, 2018
A look at the CoT report from May 4, 2018.
A look at the CoT report from May 4, 2018.
Today's topics include shadow banking, credit concerns, the perils of groupthink, optimistic homeowners, stock seasonality around election cycles, the race for $1 trillion market cap and robots taking over Wall Street.
The connection has broken between sentiment and wage gains. Technology-heavy metros continue to attract the lion's share of recruitment and better salaries. The outlook is not yet very rosy, even given full employment.
As risk markets struggle in 2018, we need to again remind ourselves they look forward and not backward. Booming earnings, deregulation, tax cuts and synchronized global growth propelled stocks earlier this year, but those themes have recently taken a back seat to peak earnings fears, rate hikes, quantitative tightening and a slowdown in Europe.
Distress in Argentina is the latest issue dragging down emerging market performance in Latin America. Resilient economic growth and stable ETF flows may help some LatAm sovereigns outperform.
A look at the April 2018 payroll report.
Today's topics include the guidance game, central banks, bank liquidity, the New York Fed and EM currencies.
Jim Bianco offered his opinion on the FOMC decision on Bloomberg TV.
Investors are contemplating whether or not earnings and economic growth are "as good as it gets." Global concerted growth has indeed ended with diverging data change indices. Transitions away from economic surprises and above-average data changes have typically produced the greatest volatility over the ensuing months.
Growth in net new issuance will level off through the third quarter, offering some relief to Treasury markets in the near term.