For almost 7 years, asset-gatherers and commission-takers have exclaimed "There Is No Alternative" to stocks, given how low interest rates are. However, given the recent buying-panic in stocks, TINA is now dead BAB is back (Bonds Are Better)...
In a sign the U.S. equity rally may be looking stretched, Bloomberg notes that the forward dividend yield on the S&P 500 has dropped below the return on Treasuries for the first time since 2011.
We’ve previously noted that no one wants the Internet of Things aka "IoT" (except Big Brother and a handful of companies which are trying to make a quick buck off of us).
For months, I’ve taken screenshots of IoT stories run by the very mainstream Business Insider.
What they show is that Business Insider readers ignore every single IoT story. Specifically, there is no interest in any IoT story … and even stories posted at the exact same time or after IoT stories get more interest (compare the following images to their hot stories):
Authored by Kevin Muir via The Macro Tourist blog,
So much for that call. I thought there was no way Yellen would put her fingers in her ears, close her eyes, and shout “nah nah nah - I can’t hear you” to the speculative fervour that has gripped markets. Well, there is no way to couch it. I was wrong.
In her last press conference, Yellen focused on all the positives.
In the most interesting exchange during Janet Yellen's final news conference, CNBC's seemingly flustered Steve Liesman asked Janet Yelen a question which in other times would have led to his loss of FOMC access privileges: "Every day it seems the stock market goes up triple digits on the Dow Jones: is it now, or will it soon become a worry for the central bank that valuations are this high?"
Authored by David Stockman via Contra Corner blog,
Today's single most dangerous Wall Street meme is that there is no risk of a stock market crash because there is no recession in sight. But that proposition is dead wrong because it's a relic of your grandfather's economy. That is, a reasonably functioning capitalist order in which the stock market priced-out company earnings and the underlying macroeconomic substrate from which they arose.