Another day, another record low for volatility gauges, with Bank of America’s MOVE Index (considered Treasury Market 'VIX') falling to an unprecedented 48.26.
As Bloomberg notes, the slide back down in volatility comes as the Treasury term premium looks to be failing in its latest attempt to climb back above zero.
Authored by Lance Roberts of Real Investment Advice,
Just recently, Bloomberg ran a fascinating article discussing a new study from the McKinsey Institute.
“American manufacturing could be poised to rebound as technological disruption shakes up global production chains, but that will offer little relief to displaced factory workers, according to new research by the McKinsey Global Institute.
Another day, another CBO score for another version of the GOP's healthcare bill. This time, the agency estimates that McConnell's "Better Care Reconciliation Act" legislation would lower the federal budget deficit by $420 billion over the next 10 years by reducing spending for Medicaid and subsidies for nongroup health insurance.
Authored by Charles Hugh Smith via OfTwoMinds blog,
Each new policy destroys another level of prudent fiscal/financial discipline.
The primary driver of our economy--financialization--is in a death spiral. Financialization substitutes expansion of interest, leverage and speculation for real-world expansion of goods, services and wages.
In the battle between "old" (bricks and mortar) and "new" (online) retail, few will survive although according to the market, the winner couldn't be more clear.