Thursday morning, Treasury Secretary Steven Mnuchin told CNBC that we could expect “significant” tax reform by August, including tax cuts for middle-income Americans and corporations. Like clockwork, the major stock indices rallied to all-time highs in intraday trading.
All of the US equity indices made new all-time highs again this week. Treasuries were the biggest winner. A drawdown of at least 5-8% in SPX is odds-on before year year end, but there are a number of compelling studies suggesting that 2017 will probably continue to be a good year for US equities.
Today, it seems as if there is a mysterious voice speaking to politicians all over the world, urging them to build.
During the next two decades, an estimated 76 million baby boomers – the bulge of the Western population born between 1946 and 1964 – will begin the process of going from growing and accumulating earnings to retiring and distributing their wealth.
Real asset alternative investments in a CEF format may appeal to investors seeking inflation protection, says Larry Antonatos of Brookfield Asset Management.
Investors often ask us which of the two primary bond market risks—interest rate or credit—they should focus on in 2017. Our answer? Both of them—and the interaction between the two.
The former UK leader’s recent call for voters to rethink leaving the EU is an Emperor’s New Clothes moment. Blair is now an unpopular figure, but his voice is loud enough to carry above the crowd of flatterers assuring Prime Minister Theresa May that her naked gamble with Britain’s future is clad in democratic finery.
The Chicago Fed's National Activity Index, which we reported on yesterday morning, is based on 85 economic indicators drawn from four broad categories of data:
This morning's release of the January New Home Sales from the Census Bureau came in at 555K, up 3.7% month-over-month from a revised 535K in December. Seasonally adjusted estimates for October and November were also revised. The Investing.com forecast was for 570K.
On Friday, the S&P opened lower than the previous three days and oscillated around a narrow range until late in the day with a few jumps just before close. The index reached its intraday high at close and ended the day with a gain of 0.15%. Week over week, the index saw a gain of 0.70% ending Friday with another record close.