Authored by John Dizard via The FT,
The mania for average returns has been suppressing short term losses, or corrections
A sound banker, alas! is not one who foresees danger and avoids it, but one who, when he is ruined, is ruined in a conventional and orthodox way along with his fellows, so that no one can really blame him.— John Maynard Keynes
Authored by Lance Roberts via RealInvestmentAdvice.com,
Over the last few weeks, I have been discussing the ongoing consolidation process for the S&P 500 from the March highs. (For a review read: “Oversold Bounce Or Return Of The Bull,” and “Return Of The Bull…For Now.”) As the expected rally in stocks, and reversal in bonds, took shape as the S&P 500 was finally able to ratchet a record close at 2399.29. (Read: 10/2016 – “2400 Or Bust”)
After the quietest 8 days in S&P history since 1964...
The broad market index managed to limp quietly to a new record close on Friday after a very mixed payrolls print.
However, despite the volumeless spike to record highs, it appears the week's dismal data..
As Bloomberg notes, to say the S&P 500 Index’s slog to a record this week failed to ignite animal spirits on Wall Street would be an understatement.
Authored by Mark Melin via ValueWalk.com,
There is a slow creep in delinquent credit that is starting to get noticed. The special-servicing and delinquency rates for securitized commercial mortgages rose again last month, Commercial Mortgage Alert first reported. While the rise was reasonably contained, it is the trend of commercial underperformance that is causing a mild degree of concern. The data on Commercial Real Estate comes as investors are closely watching the prospects for retail malls across the country.
The system used by the Dept. of Education to collect on defaulted student loans came to a standstill in the last month, leaving an estimated 91,000 accounts in limbo, when the agency ordered debt collectors under contract to stop making collections on accounts.