Bloomberg.com – The Bond Market’s Biggest Rally of 2017 Amazes Traders The bond bull market is staging its biggest leap forward this year, much to the chagrin of Wall Street prognosticators. Even after a late-July Federal Reserve meeting made it clear that policy makers would begin reducing the bank’s $4.5 trillion balance sheet in short order, 10-year Treasury… Continue reading Bearish Bond Forecasts Remain
The Financial Times – Correlation crash clears way for stockpickers Active managers benefit from market’s dwindling ‘risk-on/risk-off obsession Today, the landscape looks radically different. Correlations have tumbled across the board this year, a phenomenon that Bernstein analysts have termed “The Great Correlation Collapse”. On a broad level, markets and asset classes move more independently of each… Continue reading The Art Of Stockpicking
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OPEN Fund Flows Update – Active And Passive Money Flows Fund flows through July 2017. The latest look at mutual fund and ETF flows and assets. Comments on stock funds, bond funds and hybrid funds. Flows into ETFs since 2000 show an investor preference for passive investment vehicles over actively managed mutual funds. Mutual fund and… Continue reading Fund Flows Update – Active And Passive Money Flows
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Comment Today at 9 AM CT (10 AM ET, 7 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 how investor behavior has changed since the financial crisis of 2008. We will examine the move… Continue reading Conference Call Today: How Investor Behavior Has Changed Post-Crisis
Wall Street Journal – Why European Stocks Can Survive a Stronger Euro The rise of the euro is weighing on stocks, but it’s a sign of the eurozone recovery Up goes the euro, down go European stocks. Or do they? To judge by the broad performance of the Stoxx Europe 600, that’s the case. After a promising… Continue reading European Equities Still Taking Cues from Economy, Not the Euro
Bloomberg – Grocers, Don’t Be Blinded by Bezos Carrefour’s warning shows retail basics are just as important as whizzy digital offerings. Amazon.com Inc. is about to destroy the global grocery industry. After its $13.7 billion acquisition of Whole Foods, that’s been the accepted wisdom. But Carrefour SA has provided a timely warning: It’s not just about Amazon.… Continue reading Your Neighborhood Grocer Has Reason for Concern
Bloomberg – Stock Breadth, Yields and a Bearish Tipping Point in the S&P 500 Bond rates in free fall, flattening the yield curve, and a narrowing stock market leader board — at some point their message starts to matter for the S&P 500, right? A few analysts say yes…Breadth has deteriorated as the benchmark gauge… Continue reading Only 43% Of S&P 500 Stocks Trade Above Their 50-Day Average
Bloomberg – America’s Jobs Engine Keeps Defying Forecasts for 2017 Slowdown In an economy growing at a moderate pace at best, the U.S. job market keeps on shining. Payroll gains topped forecasts in five of the past seven months, putting the 2017 average increase of 184,000 almost on par with last year’s 187,000 and above… Continue reading Job Growth Continues To Surprise To The Upside
The Financial Times – US debt ceiling angst sends Treasury bill yields higher Investors are demanding greater compensation to own US Treasury bills maturing in early October, as Wall Street faces the prospect of a contentious debate in Washington over raising the country’s debt ceiling. Although US Treasury secretary Steve Mnunchin has said that Congress… Continue reading Gauging Debt Ceiling Concerns
Real Time Economics (WSJ Blog) – No, Government Statisticians Won’t Have to Pull a Jobs-Report All-Nighter On Friday—less than nine hours after August ends—the Labor Department will announce how many tens of millions of Americans were employed during the month. That raises the question: How do they count so fast? Government statisticians, of course, aren’t scrambling… Continue reading Hurricane Harvey Will Not Affect Friday’s Jobs Report