Below looks at the performance of the S&P 500 Sectors, looking back 5-years. The winner for the lowest performance is the Energy Sector (-1.42%). XLE is lagging the S&P 500 by almost 70%, in just 5-years. “Time for them to rally?
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In a just released report from the CBO looking at the long-term US budget outlook, the budget office forecasts that both government debt and deficits are expected to soar in the coming 30 years, with debt/GDP expected to hit 150% by 2047 if the current government spending picture remains unchanged.
The CBO's revision from the last, 2016 projection, shows a marked deterioration in both total debt and budget deficits, with the former increasing by 5% to 146%, while the latter rising by almost 1% from 8.8% of GDP to 9.6% by 2017.
Moments ago, all three main US FX pairs, the yen, euro and yuan snapped higher, following a CNBC report according to which the Trump administration is studying ways to penalize countries whose currencies it believes are undervalued. CNBC cited two unidentified people with direct knowledge of the review who work within the administration.
In the third and final estimate of Q4 GDP, the BEA revised the previous estimate of 1.8% notably higher to 2.1%, driven by a sharp upward revision to consumer spending, which rose 3.5% in Q4, after rising 3.0% in Q2, and contributed 2.4% to the bottom GDP line - in other words consumption alone was more than the entire GDP increase- up from 2.05% in the second revision.
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