US Corporate Bond Issuance Continues To Tumble

posted in: Credit, Economy, Technicals | 0

Corporate bond issuance continues to surprise on the downside.  While some technical factors could be responsible for this, the deceleration comes amidst strong GDP growth. In July, US corporations issued $61 billion in total, made up of $52.5 billion in … Continued

Perfect Timing Tool They Are Not, But Several Metrics Stretched In 9-Year-Old Bull

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The bull market in U.S. stocks is nine years old.  While this alone does not necessarily sound the death knell for this aging bull, this is not a time to remain unambiguously sanguine either. Last Friday, the bull turned nine, … Continued

Corporate Bond Issuance Keeps Humming – Any Investment Implications?

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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

Amidst Subdued Capex Scene, Nasdaq 100 Scores Yet Another High Last Fri

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The tech-heavy Nasdaq 100 index is doing very well so far this year – up 22.4 percent.  This compares with a rise of 10.3 percent for the Dow Industrials, 10.1 percent for the S&P 500 large cap index, and a … Continued

Having Peaked 10 Q’s Ago, Corporate Profits Inch Up In 2Q17 – ’18 S&P 500 Ests Elevated

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U.S. corporate profits adjusted for inventory valuation and capital consumption grew 1.3 percent quarter-over-quarter in 2Q17 to a seasonally adjusted annual rate of $2.14 trillion, but growth has been uneven since peaking at $2.23 trillion in 4Q14. Since that peak … Continued

VIX Likely Decides Who Wins Duel Between Transports And Financials

posted in: Derivatives, Equities, Technicals | 0

Bears point to action in transports to drive point home Bulls cite how financials are acting to prove why bears are wrong VIX remains pinned by 15, bullish (financials); VIX past 15, bearish (transports) Much ink has been spilled over … Continued

Party hard, but dance near exit

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Sideways move in stocks – just a pause or sign of fatigue after six-year run? Several different measures point to gradual buildup in complacency over the years Human nature not to want to leave party early, which is fine unless … Continued