Corporate Bond Issuance Keeps Humming – Any Investment Implications?

posted in: Credit, Economy, Equities | 0

U.S. corporate bond issuance continues at a healthy pace, with high-yield in particular on course for growth this year after three consecutive yearly decline. In October, corporate debt issuance totaled $140.9 billion, consisting of $118.2 billion in investment-grade and $22.7 … Continued

Going By Small-Cap Action, Investors Subtly Leaning Toward Risk-Off

If small-caps are a gauge of investor mood for risk- on and-off, then they are subtly beginning to lean toward risk-off. Of the four major U.S. indices – the S&P 500 large cap index, Dow Industrials, Nasdaq composite, and the … Continued

Hated Bull Market? Some Truth To That, But In Aggregate Has Been Fully Embraced

posted in: Credit, Equities, Technicals | 0

Equity bulls often assert that this is the most hated bull market ever.  There is some – with emphasis on ‘some’ – truth to that, particularly if we focus on short interest. U.S. stocks reached an important bottom in January/February … Continued

CoT: Peek Into Future Through Futures – How Hedge Funds Are Positioned

Following futures positions of non-commercials are as of Oct 24, 2017. 10-year note: Currently net long 153.6k, up 47.3k. FOMC meets next week.  The October 31-November 1 meeting is the seventh this year, with the eighth, and final, scheduled for … Continued

Amidst Persistently Complacent Investor Sentiment, S&P 500 Shows Signs Of Fatigue

posted in: Equities, Technicals | 0

Investor sentiment continues to remain exuberant even as, for the first time in a while, there is a chink in the S&P 500’s armor. Investors Intelligence bulls this week jumped 2.3 points week-over-week to 62.3 percent.  This was a third … Continued

Long And Short Of Short Interest

posted in: Equities, Technicals | 0

XLB (SPDR materials ETF) XLB (58.96) is up 3.8 percent month-to-date, and is on pace to rally 12 straight months, with short squeeze helping. In this context, Monday’s reversal candle just outside the daily upper Bollinger band may or may … Continued

CoT: Peek Into Future Through Futures – How Hedge Funds Are Positioned

Following futures positions of non-commercials are as of Oct 17, 2017. 10-year note: Currently net long 106.3k, down 86.3k. If Politico is to be believed, President Trump is leaning toward Jerome Powell, Fed governor, for the next Federal Reserve chair.  … Continued

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