While Verizon, the largest US wireless carrier by subscribers, reported earnings which missed on both the top and bottom line, it was another data point that has caught the market's attention this morning making VZ the leading decliner in the DJIA: in the first quarter of 2017, Verizon posted its first ever quarterly net loss of wireless subscribers.
Authored by Lance Roberts via RealInvestmentAdvice.com,
Doug Kass wrote a very interesting piece this week on the bond market:
“As overvalued as I believe the U.S. stock market may be, fixed-income instruments may be even more overvalued.
While various Fed presidents continue to toe the party line, saying they expect 3 rate hikes in 2017, most recently the Fed's Kaplan earlier this morning, the firm which not only sets Fed policy but now openly tells the president what to do, Goldman Sachs, is starting to get cold feet, and in a note released overnight, the firm's chief economist Jan Hatzius says that "we have become a bit less confident about near-term hikes." The U-turn was to be expected as it comes just days after Goldman threw in the towel on its long-dated strong Dollar call, which traditionally comes hand in hand wit
Trump To "Bully" Fed Into Printing Money - Negative for Stocks, Positive for Gold
David McWilliams has written an interesting article in which he puts forward the case that Trump is likely to turn on the "enemy within," the Federal Reserve and bully them into "printing money."
Almost a year after Vancouver, ground zero of Canada's housing bubble inflated with Chinese "hot money", implemented a foreign buyer tax, and just weeks after Toronto's housing bubble officially went nuts as prices soared 33% Y/Y, prompting economists such as David Rosenberg to demand a government intervention, Ontario's Liberal government has finally cracked down on foreign buyers and according to CBC will join Vancouver in slapping a 15% tax on home purchases by non-resident foreigners, while expanding the province's existing rent control system to cover all tenants.