S&P

As is the case every month, moments ago Jeff Gundlach started his periodic webcast to DoubleLine investors, this time focusing on asset allocation.

Among his notable remarks so far is that it increasingly looks like the Fed hike "increasingly likely looks like a one and done scenario" and that the Bond market keeps saying at best just one Fed hike this year.

Come to think of it, looking at the S&P, so do stocks.

Submitted by Salil Mehta via Statistical Ideas blog,

One would think that active managers would eventually outperform somewhere after the negative press that ensued a year ago.  And now that 2015 performance data has been properly audited and tabulated, we can see what the new results are.  

The latest confirmation of the pain global megabanks are suffering as a result of an abysmal trading environment, in no small part made even worse due to constant central bank tinkering, comes from Japan's largest brokerage, Nomura, which eight years after buying Lehman's European and Asian units has decided to fire 15% of its European staff and is abandoning most of its European equities business.

After four consecutive quarters of declining EPS for the S&P (including the estimated 9% plunge in Q1 earnings) is it time to declare victory over the global earnings recession? Here is the answer according to Morgan Stanley's Jonathan Garner.

Has the Global Earnings Recession Finished?

We think it's too soon to declare that the global earnings recession has finished and remain neutral equities in our asset allocation framework.

Someone seems to have hit the emergency button at the Fed, as even though the central bank said that everything was just fine with the American economy just a few weeks and months ago, the situation has currently escalated into a full-blown panic mode.