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56 Total results for product and free and sample content found

EPFR, IGM Credit, IGM FX and Rates, WealthMan...

Seasonal Historic Patterns Take a Holiday

By David Ader 20 Oct 2017

Before I begin this week’s decidedly Musings-lite, I thought it worth mentioning that the Beige Book got scant attention in the press; certainly, less than it usually does.  I think that’s telling in that it revealed painfully little that we didn’t already know and didn’t move the dial on odds of a December hike in a meaningful way.  To wit, moderate and modest are the words to describe the economy and have been the operative words for a few years now. Read more from David Ader's latest musings.

Topic Industry News

EPFR, IGM Credit, IGM FX and Rates, WealthMan...

Markets Will Crash Between Now & When Central Banks Stop Printing

By Charles Biderman, Informa, TrimTabs 19 Oct 2017

Key Question: Can Central Banks Sep Back in to Save Markets? I have been mostly bullish on the US stock market ever since realizing in October 2009 that the US Federal Reserve and other Central Banks’ money printing had eliminated the market downside.  What should be taught in Stock Market 101, particularly to those seeking to be Chartered Financial Analysts, is that all there is in the stock market are shares of stock.  Money flows in and out of the checking accounts of investors and stock market intermediaries. Read more from Charles Biderman.

EPFR, IGM Credit, IGM FX and Rates, WealthMan...

Some Counter Logic with Bonds and Deficit

By David Ader 13 Oct 2017

It wasn’t exactly a slow news week, but still the New York Times had the temerity to take away space from any number of its Harvey Weinstein updates to tell us, way back on the 4th page of the business, that “Fed Still Puzzled by Inflation, but Rate Increase Is on Track.”  This has been the story for a year at least and the question of why inflation is low continues to give way to the Fed’s confidence in its models that it will eventually rise.   I get they want to hike, I guess everyone does.  Why they want to hike is another story though centered essentially on the Phillips curve which is rather a faulty, but persistent, argument. Read more from David Ader's latest musings.

Topic Industry News

IGM Credit, IGM FX and Rates

Discretionary Spending Suggests US Expansion has Legs

By Marcus Dewsnap 13 Oct 2017

The US economic expansion is close to 100 months in length. Still short of the record 119 from 1991-to-2001. Still, this suggests there is a good chance the current expansion is at a maturity. On this, an interesting chart came across our desks (courtesy of Pictet) which we've recreated below. It shows US pleasure boat purchases as a percent of total consumption. Read more from Marcus Dewsnap.

Topic Industry News

EPFR, IGM Credit, IGM FX and Rates, WealthMan...

Trump is Scaring Corporate America

By Charles Biderman, Informa, TrimTabs 10 Oct 2017

Float Shrink Plunging, CapEx Dropping Yet Free Cash Growing 13.3% Informa TrimTabs Weekly Liquidity Review just reported that Q3 net new corporate buying was the lowest in five years since Q3 2012 (see graph below).  Net corporate buying consists of new buyback announcements plus cash takeovers of already public companies minus all new share sales; including IPO’s secondaries as well as insider selling. Read more from Charles Biderman.

EPFR, IGM Credit, IGM FX and Rates, WealthMan...

Why This Hiking Cycle Might be Different

By David Ader 06 Oct 2017

When do we stop listening to Yellen?  This is, of course, a reference to the impending potential change in her career.  Bear in mind we will likely be listening to her even if she’s out of the Fed – brains, insight and experience do count for something – but her relevance will, like other ex-Fed officials, tend to diminish with time. Read more from David Ader's latest musings.

Topic Industry News

EPFR, IGM Credit, IGM FX and Rates, WealthMan...

Keynesians Driving the Global Economy to Ruin: $1 of Government Spending is not = $1 of After Tax Income

By Charles Biderman, Informa, TrimTabs 06 Oct 2017

Followers of John Maynard Keynes tend to believe that $1 of government spending is just as good as $1 of after tax income, if not better. The key message of Keynesian economics is when the rate of growth of after tax profits of both industry and individuals declines, then increased government spending is supposed to not only provide a bridge but enhance an overall business recovery. Read more from Charles Biderman.

EPFR, IGM Credit, IGM FX and Rates, WealthMan...

Individuals and Public Companies Acting Bearish - Bullish Spike in Stock Prices Ahead?

By Charles Biderman, Informa, TrimTabs 29 Sep 2017

Individuals and Public Companies Acting Bearish - Bullish Spike in Stock Prices Ahead? US stock prices are up more than 6% since the end of March.  However, you would not know that if you simply followed flows in and out of US equity mutual and exchange traded funds. Read more from Charles Biderman.