EC Inflation (Expectations) Corroborate Risk, Which Corroborates Inflation
On Thursday, the Bureau of Economic Analysis (BEA) will report on Personal Consumption and Personal Income (as well as the difference between those two, the Personal Savings Rate). Accompanying the economic figures will be the usual estimates for consumer prices, in this case the Federal Reserve’s preferred inflation gauge the PCE Deflator. There isn’t expected […]
US HY Credit Spreads – A Strategic Analysis
In this video we look at US HY Credit Spreads and provide a strategic analysis, and comment on how to think about timing this asset class.Specifically, the video walks you through a couple of slides of a recent edition of the Weekly Macro Themes report. In the video we provide an overview of how US High […]
Market Cap For New Home Sales Spikes Up
Just two months ago, we asked if new home sales in the U.S. were topping out. Based on the just released data for October 2017, we can now say the answer to that question is “not quite yet”. The following animated chart, showing the history of the effective market cap of the new home sales market in the U.S. […]
Slightly Less Bearish On Multi-Line Retailers
If there’s one area of the market that investors couldn’t be more bearish on, it’s the multi-line retailers. With Amazon eating their lunch, consumers changing the way they spend money (choosing experiences over stuff), and an overall bloated retail footprint, multi-line retailers have faced a perfect storm and their stocks have reacted accordingly. With all […]
The GOP Tax Bill: Fuggedaboutit!
The GOP has become so politically desperate that they might as well enact a two-word statute and be done with it. It would simply read: Tax Bill! Actually, that’s not far from where they are in the great scheme of things. The Senate Finance Committee’s bill is a dog’s breakfast of K-Street/Wall Street pleasing tax cuts, narrowly focused revenue […]
The Hidden Riches Inside Your Cash Flow
Most people only have two bank accounts they utilize in their lives. Those two accounts are usually a checking and savings account. Your paycheck gets deposited into your checking account, you then pay bills and if there is anything left the balance goes into a savings account. According to Trading Economics, the national savings rate […]
China ETFs In Focus On Recent Sell-Off
China is hot and soaring among all the other equity markets this year thanks to improving economic growth. In fact, China is leading the global markets, attaining the best-performing country spot in the year-to-date time frame. But the incredible run eased somewhat last week as a combination of factors including tightening liquidity and jitters over […]
Black Friday To Thanksgiving Weekend, Discontinuities Aside
I was expecting quite a bit more, but perhaps should not be surprised at what was actually delivered. The National Retail Federation (NRF) after delaying its Black Friday retail spending estimates updated them later Tuesday for the now designated Thanksgiving Weekend. These new figures capture spending activity on both Thanksgiving Day itself as well as […]
Move Over, Tesla – China Holds The Keys To Electric Vehicles
Earlier this month, I shared with you a quote from Arnoud Balhuizen, chief commercial officer of BHP Billiton, the largest mining company in the world. In a September interview with Reuters, Balhuizen called 2017 the “revolution year [for electric vehicles], and copper is the metal of the future.” Balhuizen’s assessment couldn’t be more accurate, and the implications […]
