via CNBC: Federal Reserve economists have floated the idea of a “standing repo facility” which would allow banks to exchange Treasurys for reserves. The idea would be to get banks to hold fewer reserves, and thus would help the Fed in its quest to shrink its balance sheet. There’s considerable support for the plan, but … Read more
via CNBC: Economic forecaster Lakshman Achuthan is warning Wall Street that the market’s new highs don’t signal a revitalized growth cycle. Achuthan, co-founder of the Economic Cycle Research Institute, believes it’s not an ideal environment for sustainable gains. “All the optimism is really in these risk-on assets,” he said Wednesday on CNBC’s “Trading Nation. ” … Read more
via CNN: London (CNN Business)Deutsche Bank is in rough shape and its leadership has gone silent on their plans for the future. First quarter results from Germany’s largest bank on Friday showed that revenue is falling faster than costs, one day after merger talks with crosstown rival Commerzbank (CRZBF) were called off. Yet CEO Christian Sewing has been … Read more
From Wall Street Journal: Uber and Lyft each provide substantial discounts and incentives to riders, which subsidize the cost of trips and encourage usage. But they don’t account for these amounts in their sales numbers. Instead they categorize them as marketing expenses. That inflates reported gross profits and distorts common analyses of the companies’ unit economics. … Read more
LOS ANGELES (CNS) — The median price of a Los Angeles County home rose by 2.1 percent in March, compared to the same month a year ago, despite median prices across Southern California dropping for the first time in seven years, according to figures released Friday. According to the CoreLogic real estate information service, the … Read more
via themarketear: Wilson´s worried: 1. We do not change our broader call for a multi-year trading range of 2400 – 3000 for the S&P. With valuations at the high end of fair value and continued conviction that earnings estimates still need to be lowered, we would avoid betting on a melt up 2. The high … Read more
https://finance.yahoo.com/news/vanguard-drops-hammer-etf-fee-143705599.html On April 26, Vanguard said it’s lowering fees on 21 of its ETFs, including its two largest funds, the Vanguard S&P 500 ETF (NYSE: VOO) and the Vanguard Total Stock Market ETF (NYSE: VTI). VTI and VOO are the third- and fourth-largest U.S.-listed ETFs, respectively, and are two of the four ETFs with more than $100 billion in … Read more
Record valuations and leverage alone do not make a market top. Add macro timing: -Faltering consumer confidence-Liquidity drying up-Negative economic surprises-EPS growth deceleration-Yield curve inversions-Extreme VIX short-China shocks to comehttps://t.co/9DrQo35QlK — Kevin C. Smith, CFA (@crescatkevin) April 26, 2019 The recipe for a hard landing: Historical global debt imbalances.Record overvalued assets prices.Faith in central banks … Read more
via bigthink: 62 percent of cancer patients report being in debt due to their treatment. 55 percent accrue at least $10,000 in debt, while 3 percent file for bankruptcy. Cancer costs exceed $80 billion in America each year. Rebecca Meyer was diagnosed with glioblastoma when she was 5 years old. She fought bravely for 10 months … Read more