This interactive chart shows the Investors Intelligence measure of stock market sentiment. It is a survey of investment newsletter categorized three ways, bullish (orange), bearish (blue) and those that are bullish but see a 10% “correction” first (red).
Reuters – Surge in Sweden’s core inflation, highest since 2010, adds pressure for rate rise Underlying inflation topped the Swedish central bank’s target in July for the first time since 2010, putting the central Riksbank under pressure to tighten its ultra-loose monetary policy. Negative rates and a hefty bond-buying programmer are looking increasingly at odds with… Continue reading Draghi May Set the Tone for 2018, However Riksbank Likely a First-Mover
Wall Street Journal – Are Retail Sales Dead? Depends Where You Look Spending shows signs of life—but only shoppers’ chosen stores of the moment American consumers are showing signs of life, but they are choosy about where they shop, based on the mixed bag of retailers’ earnings posted Tuesday. Overall spending has been strong, though more of… Continue reading Improving Sales Not Enough for Struggling Retailers
The Financial Times – China returns to top of list of US government creditors China has reclaimed its position as America’s biggest creditor, displacing Japan as the top holder of US Treasuries according to fresh data from the US government. Investors have been closely scrutinising China’s ownership of Treasuries after the country spent a portion… Continue reading China Regains Title Of Largest Foreign Holder Of U.S. Treasuries
The Financial Times – IMF warns China over ‘dangerous’ levels of debt China’s economy will grow faster than expected over the next three years because of the government’s reluctance to rein in “dangerous” levels of debt, the International Monetary Fund warned on Tuesday. In an annual review of the world’s second-largest economy, IMF staff said… Continue reading Chinese Debt Levels Expected To Rise To Meet GDP Target
The Fiscal Times – Does Weak Inflation Mean the Economy Is Worse Than It Looks? Minneapolis Fed President Neel Kashkari, in the wake of Friday’s tepid Consumer Price Inflation report, admitted that “there is no evidence in any of the data that wages have this acceleration factor and are all of a sudden going to take… Continue reading Deciphering Weak Inflation
The Financial Times – Earnings outlook increases pessimism over equities Global investors are increasingly pessimistic about the outlook for equities as expectations for corporate profit growth falls to its lowest level in almost two years. Just a third of money managers surveyed by Bank of America Merrill Lynch believe that company earnings will rise over… Continue reading Money Managers At Odds With Companies’ Earnings Guidance
Bloomberg Business – Fed Minutes May Show Battle Lines Hardening Over Soft Inflation FOMC likely on track for September balance-sheet announcement Federal Reserve watchers may get a better feel Wednesday for how many policy makers remain resolved to raise interest rates again this year, and how many are wavering amid a five-month stretch of soft inflation… Continue reading What The Fed Thinks Of Soft Data
The Financial Times – Stanley Fischer, Fed vice-chair, on the risky business of bank reform Over trout in Washington, the economist discusses his fears that US post-crisis banking is being steered on to a ‘mind-boggling’ course That said, Fischer says he likes Cohn, whom he used to sit next to at dinners thrown by Goldman… Continue reading Stan Fischer Speaks
The Financial Times – Blockbuster run of US corporate debt defies sceptics Many have called the top in the US corporate bond market’s blockbuster run since the financial crisis and regretted it. Now, as bond prices for US company debt have softened modestly in August, some fund managers and analysts are fretting that the bountiful… Continue reading Corporate Debt
The Financial Times – Andrew Dennis: Securitisation can be a sturdy ally for investors Rating agencies have also come under much greater regulatory scrutiny and their output is now significantly more conservative and transparent. Finally, regulation is forcing investors to demonstrate clearly that they are undertaking a full and detailed analysis of their securitisation exposures —… Continue reading Securitization