While stock markets remain comfortably numb to any and every potential (and actual) geopolitical earthquake, FX markets are getting very anxious...
Polls showing the Conservative Party has lost its comfortable lead have increased uncertainty over today’s U.K. election and investors are now paying the price.
One month ago, Goldman made an interesting observation: unlike the first big drop in oil prices in 2015/2016 when junk bonds, mostly those of energy companies, dropped alongside oil and in many cases decline with an even higher beta than energy equities, in 2017, the relationship had flipped, and it was HY Energy was resisting lower crude, even as stocks are sliding far more than the recent drop in oil would suggest. This is what Goldman said:
Authored by Stephen McBride via MauldinEconomcis.com,
This year, the first Baby Boomers turned 70, and that spells trouble for the economy and financial markets.
Speaking at Mauldin Economics’ Strategic Investment Conference, chief economist and strategist for Gluskin Sheff, David Rosenberg, dissected the wide-ranging implications of the wave of Baby Boomers now retiring.
Fifty Million Americans Aged Over 70 By 2030
In what is the biggest financial news of the day, with "Triple Threat Thursday" now downgraded to Single, outlook negative, moments ago Bloomberg reported that JPM COO, and former chair of perhaps the most important advisory committee at the US Treasury, the TBAC, or Treasury Borrowing Advisory Committee, Matt Zames who was viewed as a potential successor to CEO Jamie Dimon, is leaving after 13 years at the bank.
“Matt has worked tirelessly across many disciplines to help make us a better company,” Dimon, 61, said Thursday in a memo to staff.
In the Fed's latest Flow of Funds report, today the Fed released the latest snapshot of the US "household" sector as of March 31, 2017.