Bank Of America To Repurchase An Additional $5B In Stock By June 30, 2018
Bank of America (BAC) announced plans to repurchase an additional $5B in common stock by June 30, 2018. The company previously announced plans on June 28 to repurchase $12B in common stock from July 1, 2017, through June 30, 2018, plus repurchases to offset shares awarded under equity-based compensation plans during the same period, […]
3 Top-Ranked Nuveen Mutual Funds For Excellent Returns
Nuveen Investments was founded in 1898 by John Nuveen and is headquartered in Chicago, IL. The company seeks to provide financial services to its clients by using the multi-boutique structure. It provides these services through an independent team comprising Nuveen Asset Management, Winslow Capital and Symphony. The company deals with a wide variety of mutual […]
Brexit Woes Topples Sterling
The Pound Sterling fell against rivals after markets were disappointed with the latest news on the Brexit negotiations. The UK Prime Minister was unable to cement a deal yesterday to even open talks with the European Union so that free trade could be put on the table. Politics in Northern Ireland played a large role […]
US Trade Deficit Surges Near Five Year High Despite Sliding Dollar
The US trade balance surprisingly blew out in October, increasing from $44.9 billion to $48.7 billion, as unexpectedly exports decreased and imports increased despite the ongoing dollar weakness, missing estimates of $47.5 billion. October’s number was tied for the widest deficit going back to early 2012… … and marks a stark divergence with the recent dollar weakness […]
Technically Speaking: This Is Nuts
Since the election, markets have accelerated the pace of the advance as shown in the chart below. The advance has had two main storylines to support the bullish narrative. It’s an earnings recovery story, and; It’s all about tax cuts. There is much to debate about the earnings recovery story but as I showed […]
Tech Rout Hits Hong Kong (Again) As Tencent Extends Worrying Slide
Uh-oh. Tencent is in trouble. The ongoing tech rout on Wall Street which manifested itself in the worst 5-day stretch of underperformance for the Nasdaq 100 versus the broader market since 2009 is weighing heavily in Asia as the Hang Seng broke below 29,000. Leading the way was Tencent, which is now down 14% from […]
Treasury 10yr-2yr Yield Spread Continues To Slide
The gap between the 10-year and 2-year Treasury yields fell to 57 basis points on Monday (Dec. 4), according to Treasury.gov’s daily data. The dip marks yet another post-recession low for this widely monitored spread. The flattening of the yield curve implies that the economy is facing stronger headwinds, based on the spread’s history vis-à-vis […]
Bailins Coming In EU – 114 Italian Banks Have NP Loans Exceeding Tangible Assets
– Italy opposes ECB proposal that holds banks to firm deadlines for writing down bad loans – Italy’s banks weighed down under €318bn of bad loans – New ECB rules could ‘derail’ any recovery in Italy’s financial system – Draft proposal requires banks to provision fully for loans that turn sour from 2018 – ECB insists banks […]
On Verge Of A Monthly Breakout
Back in December of 2015, I wrote that the spike down to $26 a barrel for oil was a generational bottom and a point that we would look back at and wonder why we did not buy oil when it was that cheap. Of course, at that time it was hard to see that there […]
Morning Call For Tuesday, Dec. 5
OVERNIGHT MARKETS AND NEWS Dec E-mini S&Ps (ESZ17 +0.08%) this morning are up +0.08% as U.S. House and Senate lawmakers begin work on a compromise to tax-overhaul legislation. European stocks are down -0.36% as a slump in copper prices fuels a decline in mining stocks and commodity producers. Mar COMEX copper (HGH18 -2.04%) is down -2.10% at a 2-month low on […]
