Bloomberg writes the almost impossible has occurred. The weighting of the energy sector in the S & P 500 fell below that of the utilities sector for the first time in history. Bloomberg further writes the PE of the utilities at almost...
The S & P has experienced its biggest four-day slump since December 2018. The 10- and 30-year Treasury yields have plunged to the lowest levels on record. As widely discussed, the coronavirus is blamed for the current rout. ...
I think there is little disagreement that three of the four mega capitalized technology companies that posted profits last week exceeded expectation. One pundit sounded like Ross Perot when he exclaimed “there is a giant sucking sound” ...
Reading yesterday’s headlines one can make a conclusion that an end of an era could be at hand. One major headline read “We Missed the Exit: Banks step up Call to End Negative Interest Rates.” A group of money center European banks are asking the...
Minneapolis Fed President Neel Kashkari made comments that’s validated many of yesterday’s remarks stating hedge funds and “other investment vehicles” are the primary reasons for the illiquidity in the repo market. Kashkari further opined one of the greatest risks is ...
Many times, I have commented about liquidity issues and how it relates to the repo market. As widely discussed the Fed is intervening into the “plumbing of the markets” on a daily basis since ...
Will monetary policy assumptions soon change? Yesterday’s data continued to surprise on the upside. Retail sales, initial jobless claims, the Philadelphia Fed all painted a picture of strength. ...
Fourth quarter earnings season is about to commence. According to Goldman, results are expected to increase by the smallest amount in three years, commenting further margin pressure may continue for the foreseeable future for a myriad of reasons. ...
In my view the opinions on Wall Street are either extremely bullish or bearish. The bullish camp contends technology shares will continue their exponential rise. Bloomberg writes Apple and Microsoft contributed about 35% to the Dow’s 2019 gains. As written several weeks...
Where to? Bank America writes 30% of the S & P 500 earnings growth over the past five years is the result of share repurchases funded by debt. Many times I have commented about the proliferation of debt for non-economic purposes. BofA...