Authored by Jeffrey Snider via Alhambra Investment Partners,
As a natural progression from the analysis of one historical bond “bubble” to the latest, it’s statements like the one below that ironically help it continue. One primary manifestation of low Treasury rates is the deepening mistrust constantly fomented in markets by the media equivalent of the boy who cries recovery.
Authored by John Rubino via DollarCollapse.com,
A policeman sees a drunk man searching for something under a streetlight and asks what the drunk has lost. He says he lost his keys and they both look under the streetlight together. After a few minutes the policeman asks if he is sure he lost them here, and the drunk replies, no, and that he lost them in the park. The policeman asks why he is searching here, and the drunk replies, “this is where the light is”. — The Streetlight Effect
Last week we reported that in October, a record month in which Japanese stocks saw just one losing day in the entire month, foreigners bought a record amount of Japanese equities. It wasn't just Japan, however, where the international community was busy buying. According to the just released TIC data, foreigner accounts, both official and private, were just as busy buying US stocks. In fact, of the $61 billion in net long-term securities purchased by foreigners in September, almost half - or $26 billion - was equities.
Almost a month after P&G claimed that activist investor Nelson Peltz's Trian Partners lost the 'too-close-to-call' proxy vote, the independent inspector has adjudged the recount in favor of Trian by 43,000 votes, according to CNBC's David Faber.
Independent inspector of election for PG proxy vote has found that Trian nominee Nelson Peltz has won proxy fight by 43k votes-sources.
— David Faber (@davidfaber) November 15, 2017
Senator Ron Johnson (R-WI) just became the first Republican to officially declare that he will not support the GOP tax bill that the White House still hopes to pass before Christmas. Speaking to the Wall Street Journal, Johnson said that his opposition stems from his view that the bill unfairly benefits corporations over other pass-through entities like S-Corps and LLCs.
“If they can pass it without me, let them,” Mr. Johnson said in an interview Wednesday. “I’m not going to vote for this tax package.”