Submitted by Michael Lebowitz via 720Global.com,
“What The Fed did, and I was part of it, was front-loaded an enormous market rally in order to create a wealth effect… and an uncomfortable digestive period is likely now.” – Former Dallas Federal Reserve Governor Richard Fisher – January 5, 2016.
By EconMatters
Energy Bankruptcy Boom 2015
Dozens of oil and gas companies went into bankruptcy last year. While energy E&P companies were dropping like flies in 2015, credit rating agencies and banks have remained awfully quiet and apparently buried their heads in the sand.
By Francesco Filia, CIO of Fasanara Capital
US Inflation Expectations Closing Gap To Europe's
In January, surprisingly, US Inflation expectations, as measured by 5y5y forward inflation swaps, plunged closer to European forward inflation rates (within 10bps from 5yr lows).
In stark contrast, the 5y interest rates spread between US Treasuries and Bunds stands near its 5-yr highs, as the FED expects (and is expected) to raise rates, while the ECB contemplates deeply negative interest rates.
Submitted by Lance Roberts via RealInvestmentAdvice.com,
I recently received an email from an individual that contained the following bit of portfolio advice from a major financial institution:
Zero... nada... zip! That's how many IPOs have started trading on US exchanges in 2016 so far...
As Bloomberg reports, at this rate, January is on track for the slowest month for IPOs since December 2008, when no companies filed after the bankruptcy of Lehman Brothers Inc.
In fact, January 2016 was globally the worst month for capital formation (IPOs) since August 2008...
And not even the insiders are particularly hopeful...