Brexit One Year Later, in Five Charts
Although the British economy is showing signs of slowing down, the country has not contracted or imploded as many Brexit opponents had predicted. In fact, certain British sectors such as exports and manufacturing continue to expand.
Value Update: Where Is the Next Pocket of Opportunity?
A year ago, Templeton Global Equity Group’s Norm Boersma, Cindy Sweeting and Heather Arnold penned an article for Beyond Bulls & Bears discussing the signs of a revival in value stocks. With the nascent rally in global value stocks underway, the trio return along with their colleague Tucker Scott to outline where they now see the next pockets of overlooked potential opportunities for patient bargain hunters.
The Growth Mindset: Being Brilliant in the Fundamentals
A tsunami of change is headed toward the financial-industry shore, promising to swallow those unprepared for challenge and disruption. Indeed, disruption can resemble a tsunami—a series of waves with enormous destructive power. Leaders must meet these challenges with appropriate responses from positions of strength.
Macron Majority Gives His Reforms Momentum
With a new majority in the French National Assembly, President Macron has increased the chances parliament will pass his ambitious reforms aimed at labor and economic growth. But France also faces some hard fiscal realities that may take some time to fix.
Vehicle Miles Traveled: Another Look at Our Evolving Behavior
The Department of Transportation's Federal Highway Commission has released the latest report on Traffic Volume Trends, data through April. "Travel on all roads and streets changed by 1.2% (3.3 billion vehicle miles) for April 2017 as compared with April 2016." The less volatile 12-month moving average was up 0.1% month-over-month and 0.8% year-over-year. If we factor in population growth, the 12-month MA of the civilian population-adjusted data (age 16-and-over) is up just 0.04% month-over-month and up only 0.2% year-over-year.
Yellen at the Markets: Don’t Worry. Low Unemployment to Trump Transitory Low Inflation
Fed hikes rates again, even as inflation falls further from target and financial conditions continue to ease. Smooth sailing ahead? Beware the leverage risks building below the surface.
Pershing INSITE: Three Views on Alternative Funds
If you’ve attended as many advisor conferences as I have, you know that panel discussions featuring speakers whose firms have booths in the exhibit hall are rarely more than a “pitch fest” – an opportunity for panelists to promote their firms’ strategies. However, a panel on alternative investments at the Pershing conference last week was an exception.
The Next Minsky Moment
Ttoday we’ll have a little Minsky refresher and look at some recent danger signs. And I predict that we will soon see Minsky mentions popping up everywhere.
Small-Cap Mining Stocks, Big-Time Opportunity
Last month I told you about the upcoming rebalance of the hugely popular VanEck Vectors Junior Gold Miners ETF (GDXJ), and how it would distress shares of junior, small-cap mining stocks. I said then that the rebalance could create some excellent opportunities for astute investors to accumulate high-quality, well-managed producers at discount prices. That day has finally arrived.
These Go to 11
The global economy continues to expand, corporate revenues and earnings are solid and, despite frothy valuations, the stock market continues to chug up “to 11” and beyond.
South Korea’s Too Big to Fail
Park Geun-hye’s ouster as president of South Korea was due to a scandal involving her close confidant accused of seeking bribes from chaebols, a group of family-owned multinational conglomerates that dominate the economy.
Interest rate outlook: Eurozone economy now in “Goldilocks” phase
Invesco Fixed Income shares its views of rates around the world
Will High-Rises Come Down to Earth?
Hope for the Best but Prepare for the Worst (with Gold and Munis)
You could say I’m hoping for the best but preparing for the worst. I advise investors to do the same. No one can say what the future holds, and it’s prudent to have a portion of your portfolio in gold, gold stocks and short-term, tax-free municipal bonds, all of which have a history of performing well in volatile times.
Notwithstanding High Valuations, Global Equities Pushed Higher In May
In this issue: Equity market volatility exhibits an inverse relationship with stock/bond correlation. This is a benefit to managed risk funds; As a result of ongoing low volatility, managed risk funds have generally implemented their respective maximum equity allocations for most of 2017; and market-based measures.