Contrary to the leaks, ECB President Draghi stuck to his intent that the ECB's balance sheet move back toward the 2012 levels. He clearly confirmed that this was unanimous. This was the first time such a reference was made in the introductory remarks, which gives it more gravitas.
While the U.S. economy remains strong and our stock markets have come roaring back to new all-time highs, investors should not get lulled into bullish euphoria. Europe remains a mess with serious risks of deflation and recession...
Although I think China is clearly much more integrated as an optimal currency zone than Europe is today, it is probably less integrated than the US (I will use the US and Europe as the two extreme cases between which China falls). China of course does not have the problems of multiple sovereignty...
A favorable labor market reading adds to the optimism at the conclusion to the midterm elections. Hard to tell how long the mood can be sustained, but historically the post-midterm period has been a good one for stocks.
With not much on the domestic economic calendar, headlines about lowered European growth outlook and a slew of earnings reports provide the backdrop for today’s trading action.
There are three elements to the investment climate: 1) The divergence between the US on the one hand and Europe and Japan on the other; 2) the drop in many commodity prices, including oil; and 3) the slowing of the Chinese economy.
Money flows are shifting from lower to higher quality assets. This is a hallmark for aging bull markets and was exactly the same condition we saw leading up to the 2000 and 2007 tops. Tops are a process however and there is no set time table for how long...
In today's report we display and discuss the latest investor sentiment data according to surveys of futures traders, brokerage and advisory firms, and active Registered Investment Advisors (RIAs), plus the latest money market asset flows.
The future of shopping has arrived, and it's not human. Not only do robots cost less than humans, they don't complain, they speak multiple languages, and most importantly, by scanning aisles they know where every item is in the store and can take you straight to it.
Investors Intelligence has been publishing their survey of investment advisors and newsletter writers since 1963. The initial presumption was that when all of the smart guys started leaning one way, then that was the way to lean.