US markets closed up fractionally, DOW up 41 points and the $NDX up +0.3%. Today's gains were partially helped after a sharp rise in oil prices boosted energy shares, while better-than-anticipated data on the labor market helped financial stocks. Short-term indicators are moderately bullish and the longer-term spell a bearish overcast.
NEW YORK (Reuters) - Wall Street ended modestly higher on Wednesday after a sharp rise in oil prices boosted energy shares, while better-than-anticipated data on the labor market helped financial stocks.
NEW YORK (Reuters) - Weekly applications for U.S. home mortgages fell to their lowest level in five months even as borrowing costs declined, according to data from an industry group released on Wednesday.
NEW YORK (Reuters) - The U.S. Federal Reserve Board said on Wednesday it had ordered Goldman Sachs Group Inc to pay a $36.3 million civil penalty for the unauthorized use and disclosure of confidential information.
(Reuters) - Office Depot Inc , which scrapped a plan to merge with larger rival Staples Inc in May on antitrust concerns, said it would close about 300 more stores in the next three years to help cut annual costs by $250 million by the end of 2018.
(Reuters) - Time Warner Inc disclosed a 10 percent stake in video streaming site Hulu on Wednesday, setting its sights on the web TV market, and it raised its 2016 forecast on expectations of sustained growth in its traditional media business.
Submitted by Mike Krieger via Liberty Blitzkrieg blog,
We're going to war — either hybrid in nature to break the Russian state back to its 1990s subordination, or a hot war (which will destroy our country). Our citizens should know this, but they don't because our media is dumbed down in its "Pravda"-like support for our "respectable," highly aggressive government. We are being led, as C. Wright Mills said in the 1950s, by a government full of "crackpot realists: in the name of realism they've constructed a paranoid reality all their own." Our media has credited Hillary Clinton with wonderful foreign policy experience, unlike Trump, without really noting the results of her power-mongering. She's comparable to Bill Clinton's choice of Cold War crackpot Madeleine Albright as one of the worst Secretary of States we've had since ... Condi Rice? Albright boasted, "If we have to use force it is because we are America; we are the indispensable nation. We stand tall and we see further than other countries into the future."
Hillary's record includes supporting the barbaric "contras" against the Nicaraguan people in the 1980s, supporting the NATO bombing of the former Yugoslavia, supporting the ongoing Bush-Iraq War, the ongoing Afghan mess, and as Secretary of State the destruction of the secular state of Libya, the military coup in Honduras, and the present attempt at "regime change" in Syria. Every one of these situations has resulted in more extremism, more chaos in the world, and more danger to our country. Next will be the borders of Russia, China, and ...
Yesterday certainly held everyone's attention. Which is a result on an August day when allegedly no one was around and even fewer felt like doing anything. The world doesn't really permit that anymore. Opportunity and dangers can't be timed for the convenience of beachgoers and happen when they happen.
It wasn't just the P&L pain that seemed to be shared so generally. Rather, how quickly assumptions that have long driven global investing were suddenly being angsted over again with such passion. And this, after only a few days of upset. What an illustration of the fragility of conviction that's propelled markets
Many systemically relevant portfolios, by necessity, have been constructed in the belief there's no option but to hyper-extend out every risk curve
The biggest fiction that has to be maintained is that the exit will be able to accommodate when needed. Which is why rapid sell-offs are so heart wrenching. And the sad reality is that, at least so far, getting out hasn't paid off. But oh the temptation is so great.
Only a week ago, Japanese 10-year yields were at a record low. Today, 20 bps higher. It isn't that all of a sudden we realized that monetary policy has diminishing returns or that the Japanese establishment is incapable of successful messaging. We know all that
The existential question, affecting every bond market in the world, is suddenly this: are increasingly negative rates and the yield structures they export of any transmissionable benefit? Is the cure at some point worse than the disease? And are they really sustainable? If the answer to that changes from currently accepted theory, everything is mispriced.
I suspect that the answer to the questions are inevitable, but the timing once again will prove problematic.
In 2008, we realized that those cleverly hedged portfolios actua ...
The fixed-income expert, who manages Janus Capital's unconstrained bond fund, drew parallels between an important childhood chat he had with his mother—and later with his child—about sex and the creation of life.
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