The Global Markets Channel

Brazilian Markets Tumble as Political Turmoil Returns

Brazil’s stocks and currency took a beating as President Temer was implicated in a corruption scandal, endangering the government’s reform agenda and fragile economic recovery.

S&P 500 Snapshot: Down 0.38% From Last Week

The S&P opened Friday below Thursday's close and rose until about midday when it leveled off. It closed with a 0.68% daily gain and a 0.38% weekly loss after Wednesday's largest daily loss since September.

Hedge Fund Managers Pour SALT on U.S. Stocks, Look to Europe

Europe is back on the map. That was one of the main takeaways this week from the SkyBridge Alternatives (SALT) hedge fund conference in Las Vegas, where $3 trillion in assets was represented. Speaker after speaker touted European equities for their attractive valuations and as a means to diversify away from the volatile American market in light of rising U.S. geopolitical risk. France’s election of centrist Emmanuel Macron over far-right nationalist Marine Le Pen this month has especially eased investors’ fears that antiestablishment forces would challenge the integrity of the European Union (EU).

ECRI Weekly Leading Index: WLI Growth Index Continues Decline

Today's release of the publicly available data from ECRI puts its Weekly Leading Index (WLI) at 144.5, down 0.2 from the previous week. Year-over-year the four-week moving average of the indicator is now at 6.25%, up from 6.16% the previous week. The WLI Growth indicator is now at 5.0, down from the previous week and has been declining for 14 consecutive weeks.

3 Factors that Are Changing the Oil Trade

For the last five years, crude oil has been behaving a little differently than it has in the past. At least that’s the takeaway from the chart below, based on the Moore Research Center’s analysis of oil’s seasonal trading patterns.

USD, Valuations, Probability of Rising Budget Deficit all Point to US Equity Underperformance

With the USD now about 5% off its January peak and having made a series of four lower lows and lower highs, it’s fair to say that the period of US dollar strength we witnessed for most of 2016 has come and gone.

South Korea Tacks Left With New President, But Stocks Have Other Drivers

Political pressure on the chaebol is poised to rise, but corporate governance efforts already underway and end-market demand have proven tailwinds that have so far trumped politics.

Inflation, El Niño, and Fishmeal

Some inflation numbers were reported last week. They read: April PPI jumped 0.5% month/month, +2.5% year/year; +2.2% year/year was expected. Meanwhile, core PPI increased by 0.4% month/month, +1.9% year/year; +0.2% month/month and +1.6% year/year were expected.

Interest Rate Outlook: European Markets Return to Fundamentals

Invesco Fixed Income shares its views of rates around the world.

Should Investors Fear Another Watergate?

We have a very quiet week for economic reports. The housing data are quite important, but it will be a Tuesday story without legs. The White House drama will be compelling for the media. Whether investors like the idea or not, we should expect another week of news that is mostly political.

An Unexpected Change In Gold’s Seasonal Trade Pattern

As you can see in the chart below, based on data provided by Moore Research Center, the five-year pattern, represented by the orange line, is diverging from the longer-term trends. Note that the index on the left measures the greatest tendency for the asset to make a seasonal high (100) or low (0) at a given time.

Focus on Korea

South Korea’s young democracy has successfully withstood months of political turmoil, which concluded recently with the election of President Moon Jae-in as its new leader. What can investors expect next?

Vive La Rally!

A review of last month’s market-moving events across countries and asset classes.

Has There Been a Regime Change in Small-Cap?

Four small-cap specialists consider the change in leadership from growth to value within the asset class.

A Platform to Democratize Alternative Investments

Eileen Duff is managing partner and head of distribution for iCapital Network, where she is responsible for sales, relationship management and investor relations supporting the RIA, broker-dealer, private banking and family office communities. In this interview, she discusses how iCapital democratizes the access to high-quality alternative investments for financial advisors.