EDITOR'S CHOICE
Is Global Liquidity Now Hostile For Equities?
Article By:
Claus Vistesen
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Tuesday, August 29, 2017 5:21 AM EDT
Academics, investors and private sector researchers have been butting heads for the best part of a decade to figure out exactly what unconventional monetary policy means for asset prices.
A Quant Manager Takes Aim At The Cult Of VIX
Article By:
James Picerno
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Friday, August 25, 2017 8:27 AM EDT
Because the VIX is a current forward looking measure (really a type of price) people seem to attach more to it than that. VIX deserves to be on the short list, but it’s hardly a silver bullet.
In this article: VIX
JNJ Bulls Be Warned... An Elliot Wave Approach
Article By:
Alexandros Yfantis
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Thursday, August 24, 2017 8:30 AM EDT
Johnson & Johnson could be at the very early stages of a big decline as an impulse wave pattern since the lows of 2015 might be complete. Bulls need to be very cautious.
In this article: JNJ
Buffett Is Loading Up On BNY Mellon: Here’s Why
Article By:
SureDividend
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Wednesday, August 23, 2017 9:12 AM EDT
Warren Buffett has been a prodigious accumulator of BNY Mellon’s stock over the past several quarters. It seems as though Buffett’s increased BNY Mellon stake might be a technique to benefit from rising interest rates.
Context For The Inflation ‘Debate’
Article By:
Jeffrey P. Snider
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Tuesday, August 22, 2017 8:09 PM EDT
You can understand to some small degree economists’ collective confusion about inflation. They believe in wage dynamics, where a recession through mass layoffs creates slack and thus depresses wages.
The Limits Of Monetary Policy In Today’s Fiat Currency World
Article By:
Edward Harrison
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Monday, August 21, 2017 2:34 PM EDT
The over-reliance on monetary policy means monetary policy is looser than it would be if macro relied more on fiscal stabilizers. And that means that we may have fewer policy choices when the next downturn comes.
The Changing MLP Investor
Article By:
Simon Lack
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Monday, August 21, 2017 2:24 PM EDT
Why aren’t MLPs performing better given the fundamentals? On valuation, they should be compelling. Using EV/EBITDA, they are virtually on top of utilities, a point not reached either in 2008 or 2016.
How Is This Even Legal? EM Debt Fund Cash Balances Hit 4-Year Lows
Article By:
The Heisenberg Report
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Saturday, August 19, 2017 6:28 PM EDT
One of my consistent themes revolves around the extent to which HY and EM bond funds are hiding an inherent liquidity mismatch that the vast majority of investors either underestimate or simply don’t understand.
In this article: HYG
Lack Of Industrial Momentum Is (For Now) Big-Auto Problem
Article By:
Jeffrey P. Snider
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Thursday, August 17, 2017 4:47 PM EDT
Industrial Production disappointed in the US last month, dragged down by auto production. Despite the return of an oil sector tailwind, IP was up just 2.2% year-over-year in July 2017, according to Federal Reserve statistics.
Signs That Investors May Be Shying Away From Indiscriminate Risk
Article By:
Gary Gordon
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Wednesday, August 16, 2017 2:58 PM EDT
The percentage of stocks holding above a 200-day moving average is declining. This implies weak breadth across the stock universe where fewer and fewer names are holding up the big-name benchmarks.
Three ETFs For Floating Rate Bank Loans
Article By:
Brad Zigler
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Tuesday, August 15, 2017 1:51 PM EDT
Does it seem like interest rates have trebled over the last two years? Well, short-term commercial lending rates certainly have. I have selected three bank loan exchange-traded funds focused on U.S. high yield paper.
World GDP In Current U.S. Dollars Seems To Have Peaked; This Is A Problem
Article By:
Gail Tverberg
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Monday, August 14, 2017 12:44 PM EDT
What has been concerning for the last couple of years is that World GDP is no longer growing robustly. In fact, it may even have started shrinking, with 2014 being the peak year.
Losing Economic Trade
Article By:
Jeffrey P. Snider
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Monday, August 14, 2017 12:35 PM EDT
The oil effect continued to recede in late spring for more than just WTI prices or inflation rates. US trade on both sides, inbound and outbound, while still positive has stalled since the winter. Exports grew by just 6.2% in June 2017.