US Trades At A 40% Premium To Asia Ex Japan, But EPS Growth Is Less Than Half
In 2015, US traded at 1.4x the Asia ex Japan PE, it narrowed to 1.25x in 2016, and then back to 1.4x in 2017 EPS growth in 2017 is expected at 23.1% for Asia ex Japan versus 10.3% for the US Analysts expect this 40% PE premium for US to persist in 2018-2019, do YOU?
Economy And Monetary Policy Update
Audio Length: 00:54:06 Alongside my co-host, Wharton School finance Professor Jeremy Siegel, I had the opportunity to speak with St. Louis Federal Reserve Bank President James Bullard on our “Behind the Markets” podcast. Bullard is renowned for being a flexible thinker. We’ve spoken to Bullard at times when he was perhaps the most hawkish member of […]
Technically Speaking: It’s A Turkey Market
“Technically Speaking” is a regular Tuesday commentary updating current market trends and highlighting shorter-term investment strategies, risks, and potential opportunities. Please send any comments or questions directly to me or via Twitter. With Thanksgiving week rapidly approaching, I thought it was an apropos time to discuss what I am now calling a “Turkey” market. What’s a “Turkey” market?Nassim Taleb summed it up well in his […]
The United States Is Not As Low Tax As It Seems
Eduardo Porter had a good piece noting that the United States is an outlier among rich countries in that it takes in far less tax revenue each year than other wealthy countries. As a result, it provides less in public services like health care and higher education. However this is an incomplete story. Tax collections are only […]
Canopy Growth Corporation Reports Second Quarter Fiscal 2018 Financial Results
Canopy Growth Corporation (TSX: WEED) (TWMJF) today released its consolidated financial results for the second quarter ended September 30, 2017. All financial information in this press release is reported in Canadian dollars, unless otherwise indicated. Subsequent to quarter end, Canopy Growth entered into a strategic relationship with Fortune 500 global beverage leader Constellation Brands (“Constellation”). […]
USD/JPY And AUD/USD Forecast – Tuesday, Nov. 14
USD/JPY The US dollar initially fell against the Japanese yen during the Monday session but continues to find support just above the 113 handle, as we build up the pressure to perhaps continue to rally. If we can break above the 115 handle, the market would be free to go much higher, but at this point, […]
Euro Rides High After German GDP
The euro was already trading firmly before German GDP surprised to the upside, and the report helped lift the single currency through $1.17 for the first time ECB meeting in late October. The 0.8% quarterly expansion lifted the workday adjusted the year-over-year rate to 2.8% from a revised 2.3% in Q2, which is the fastest […]
Italian GDP Rises By 0.5% As Expected – EUR Looks Strong
The economy of Italy is seeing accelerating growth: 0.5% q/q, the highest since 2009. This may provide some comfort after Italy was left out of the World Cup for the first time in 60 years. EUR/USD consolidates its gains and trades around 1.0710. Resistance awaits at 1.1780 and support at 1.1670. Italy, the third-largest economy […]
Will US Inflation Tick Higher In 2018?
The Federal Reserve has been trying to lift the inflation trend in recent years with limited success. Key measures of the price trend remain below the central bank’s 2.0% target and recent data point to more of the same for the immediate future. But there are hints that the inflation is stabilizing, perhaps laying the […]
German Q3 GDP Growth Smashes Expectations
German GDP growth for Q3 2017 printed at 0.8% Q/Q, easily beating the consensus estimate of 0.6%, which was in line with growth in the previous quarter, driven by fixed capital formation amid stable household and government consumption. While year-on-year GDP growth was reported as 2.3%, the underlying growth was 2.8% after adjusting for calendar […]
