The Financial Times – Will the shift out of tech into financials last? Tech shares around the world have endured a bumpy ride lately, reflecting the sector’s hefty gains that are ripe for cashing in as some investors eye the approach of year end. The main beneficiary, at least in the US, has been shares… Continue reading Money Flows Out Of Tech And Into Financials
OPEN Commitment of Traders Analysis For December 8, 2017 Webcast In the webcast above we detail the latest CoT data. Click the open button to view the report and click here for our interactive CoT visualization.
Bloomberg – Bank of Japan’s $150 Billion ETF Binge Looks Likely to Slow Next Year As stocks surge and consumer prices inch higher, investors say it’s time for the Bank of Japan to reduce equity purchases that have been criticized for distorting the market. Sometime next year, the BOJ will cut its annual buying target… Continue reading Central Bank Balance Sheets
The Wall Street Journal – The New Face of Treasury Auctions In the depths of the financial crisis, the borrowing needs of the U.S. more than tripled, surpassing $2 trillion on an annual basis each year since 2009. Foreign investors and Wall Street banks bought most of the debt at government bond auctions. As the… Continue reading Breaking Down Treasury Auctions
The Financial Times – Bitcoin feeding frenzy fuelled by 15 times leverage, says exchange The Japanese exchange at the heart of bitcoin’s recent surge has said its investors are fuelling the cryptocurrency’s feeding frenzy as they buy in with leverage up to 15 times their cash deposit. Yuzo Kano, chief executive of bitFlyer, said in… Continue reading All Things Bitcoin
The Financial Times – Gillian Tett: Self-driving finance could turn into a runaway train No one knows who’s liable if a program goes haywire, as regulators struggle to keep pace What we are seeing, in other words, is the rise of self-driving investment vehicles, matching the auto world. But while the sight of driverless cars on… Continue reading Bot Trading
The Wall Street Journal – Want a New Job? This Is What Employers Require From Their Workers Employers say most positions don’t require a college degree, but do require post-employment training Most Americans don’t need a college degree to get a job. Many do need to spend a lot of time on their feet and get some… Continue reading Consumer Spending Facing Headwinds
Bloomberg Business – U.S. Payrolls Rise 228,000 While Wages Gain Less Than Forecast The U.S. added more jobs than forecast in November and the unemployment rate held at an almost 17-year low, though below-forecast wage gains suggested the labor market still has slack to absorb. Payrolls rose 228,000, above the median economist estimate of 195,000, after… Continue reading Employment In Pictures
The rotation into the financial sector continues. Tax reform optimism favors diversified financials but regional banks are along for the ride despite concerns about the treasury curve.
The Wall Street Journal – Fed Report Says Stocks, Homes Values Helped Total Household Net Worth Rise Total household net worth rose to $96.939 trillion in third quarter, larger gain than prior quarter The total net worth of U.S. households climbed further into record territory in the third quarter of 2017, reaching $96.939 trillion as stock… Continue reading Flow of Funds Update – U.S. Households Now Worth Almost $97 Trillion
OPEN Webcast – Will The Stock Market See A “Normal” Correction? In the webcast above, Jim Bianco discusses our recent post titled Will The Stock Market See A “Normal” Correction? The chart below measures risk-on/off cycles using BofA’s Global Flow Index, which reveals investor flows between risk and safe assets. As BofA states: The Flow indicator is a measure of investor… Continue reading Webcast – Will The Stock Market See A “Normal” Correction?