Bloomberg Markets – Goldman Sachs Fund Manager Says Dollar Pain Trade Is Flashing a Buy Sign Just as the biggest rout for the dollar in at least six years is sending investors fleeing, at least one observer says it’s time for value-oriented money managers to start piling in. That’s the view of Mike Swell, co-head… Continue reading Bullish On The Dollar
CNBC – Why Janet Yellen may have talked herself out of a job Fed Chair Janet Yellen gave a speech Friday at the Jackson Hole conference in which she touted the importance of bank regulations. President Donald Trump has vowed to roll back many of the post-financial crisis rules. Yellen’s term expires in February, and Trump… Continue reading Kevin Warsh As Fed Chief By Default?
The Financial Times – Wall St’s top bankers sell own groups’ shares as Trump rally reverses Wall Street analysts have been urging investors all year to buy stocks in the big US banks. But Wall Street itself is not listening. Executives and board members at the top six US banks have been consistent sellers of… Continue reading Financials Outperform While Insiders Continue To Sell
The Wall Street Journal – Emerging-Market Bonds: The Stars Align Low inflation has gone global. But while it is proving a test for central banks like the U.S. Federal Reserve and European Central Bank, it is a different story in emerging markets. Investors in local-currency government bonds are the winners—and could have more to come. The… Continue reading Inflation Remains Low Around The Globe
Bloomberg Business – From Stocks to Bonds, the Bear-Market Signals Are Multiplying Correlations near levels consistent with last two downturns The pairwise correlations between the S&P 500 and its industry sectors have fallen near levels that preceded the last two bear markets, according to the Citigroup strategists. The previous downturns in stocks started when correlations… Continue reading Stock Sector Correlations And Bear Markets
Bloomberg Business – Hedge Funds Near-Record Momentum Bets Keep Coming Up Winners Managers of active funds have been either incredibly prescient or unusually lucky. Either way, they find themselves heavily concentrated in the strongest part of the U.S. equity market. With more than half of their bets on high flyers like technology and online retailers, hedge funds… Continue reading Hedge Funds Performance
The Wall Street Journal – Fallout From Harvey to Disrupt Energy Markets Around the World Tropical Storm Harvey is upending the flow of oil and petroleum all around the world—a consequence of the growing influence of the U.S. in the global energy industry. Since the last time a major storm passed through the Gulf Coast, vast… Continue reading How Harvey Impacts The Economy
Bloomberg Business – Bitcoin’s Epic Rise Leaves Late-1990s Tech Bubble in the Dust Some digital currencies have increased 40-fold this year alone Unless you’ve been living under a rock, you’re probably aware that bitcoin and a number of other digital currencies have seen some pretty crazy runs this year. Bitcoin, the best-known digital currency, has surged… Continue reading More On The Bitcoin Bubble
Bloomberg View – Daniel Moss: Europe Has Recovered Enough to Ease Off the Quantitative Easing The European Central Bank is approaching a great opportunity to signal unambiguously its confidence in the region’s economic revival. It would be a shame to miss it. The ECB’s governing council returns from its summer break next week knowing that its… Continue reading Monetary Policy In Europe
Bloomberg Business – Mohamed A. El-Erian: Why Gold Is Less of a Haven These Days Its status has been eroded by unconventional monetary policy and cryptocurrencies. Having waited patiently for the “any-minute-now” moment, gold investors are taking comfort from the recent rise in price in response to geopolitical tensions. Yet the responsiveness of gold, as… Continue reading Gold vs Cryptocurrencies
The Financial Times – New 2065 bond to shed light on appetite for long-dated sector Analysts suggest ultra-long deals currently looking ‘relatively dear on the curve’ Next week, the UK is expected to launch a new syndicated transaction in the gilt market, with a bond maturing in 2065 set to tap additional investor demand. A recent… Continue reading Ultra Long-Dated Bonds
Bloomberg Business – Bond, Dollar Traders Won’t Let Missiles Distract Them From Fed Market is focused on week’s key data to gauge rate-hike odds North Korea’s latest missile launch may have ratcheted up geopolitical tensions to a new level, but for bond and currency traders, the primary focus is still on U.S. monetary policy. Sure, 10-year… Continue reading Markets Focused On The Fed