Nearly 7 years ago, shortly after Mark-to-Market was indefinitely suspended, and Mark-to-Unicorn as we first dubbed it was revealed, we described an odd accounting peculiarity which in the coming years would take the financial world by storm: the so-called "Fair Value Option", and its practical offshoot, the Credit/Debt Value Adjustment (CVA or DVA).
Here was our quick and dirty explanation from April 2009:
Via Dana Lyons' Tumblr,
The relative strength of the consumer discretionary sector versus consumer staples had been a positive for stocks – not anymore.
A little over a week ago, Marc Faber dialed in from Thailand to chat with Bloomberg TV about the outlook for US equities, the American economy, and USTs in the new year.
The US is "already in a recession," the incorrigible doomsayer said.
Submitted by Nick Cunningham via OilPrice.com,
Energy investors got clobbered in 2015, and are hoping for things to turn positive as we head into the New Year.
What can we expect in 2016? Here is a rundown of some key trends to watch for:
As Wall Street axioms (Santa rally, January effect, as goes January etc.) are rapidly falling by the wayside at the start of 2016, following a chaotic but return-less 2015, the UBS analysts who correctly forecast last year's volatility are out with their forecast for 2016. It's simple - Sell Stocks, Buy Gold.
UBS Technical Analysts Michael Riesner and Marc Müller warn the seven-year cycle in equities is rolling over.