Business

Now that we've entered the final month of trading for 2016, it's time for Goldman economist David Kostin to opine on what will happen in 2017 (mind you we still don't know for certain if the Fed will hike or not this month, although it does appear fairly certain they will.) Following a tough 2016 that has beaten analysts down to the point of losing their minds, Kostin believes 2017 will see the S&P 500 reaching 2400 in Q1 before fading out to 2300. He still believes Op EPS growth will be 10%. The breakdown of his outlook comes in two parts, Hope and Fear.

Wall Street bonuses have been under pressure since the onset of the "great recession" as the demand for massively overpriced, Ivy League egos suddenly dipped well below supply.  Unfortunately, the supply overhang still seems to be weighing on banker bonuses, a fact we've pointed out a couple of times this year.  

In a speech delivered at the Liverpool John Moores University on Monday, Bank of England head, and former Goldman partner, Mark Carney defended his central bank's near-zero borrowing costs which have been increasingly criticized by local politicians ever since the Brexit vote, claiming that central bank monetary policies have not been the cause behind wealth transfer.

Carney said the BoE's actions had softened the hit to Britain's economy since the global financial crisis, easing the blow for poorer households who suffer most from recessions.

Throughout the 90s, Texas was frequently listed as a finalist in Site Selection magazine's annual Governor's Cup competition which served as a proxy for how "business friendly" a state was.  According to the magazine, the ranking was based upon the "Conway Project Database" and tracked the number of projects started in a state each year that met certain financial thresholds.

Only one thing for today really...