Wolf Richter wolfstreet.com, http://www.amazon.com/author/wolfrichter One of them is wrong. Watch out for it to snap in an ugly manner. When the economy goes into a downturn, even a plain-vanilla recession or near-recession and not a crisis, junk bonds behave badly. This is because over-indebted companies with iffy cash flows – those are the ones that … Read more
BY JOHN RUBINO One of the lessons of the past few decades’ boom/bust cycles is that each financial bubble emerges in a different asset class. In the 1970s it was precious metals, in the 1980s junk bonds, in the 1990s tech stocks and in the 2000s mortgage-backed bonds. Today the only one of these with a … Read more
by howmuch In 2010, the world’s central banks stopped selling gold and started accumulating it. As gold provides a hedge against economic uncertainty and currency manipulation, the action of these central banks gives us insight as to which countries are most capable of handling an economic storm. Here’s what you’ll learn in this article: Data from Gold.org – courtesy … Read more
via CNBC: Call it an ETF exodus. U.S.-based exchange-traded funds have seen $7 billion leave their portfolios in May alone as the major averages stay on track for the first negative month of 2019. But while the action might make it seem like investors are losing faith in the perpetually growing ETF market, experts say it’s more … Read more
Net loss: $1.01 billion, vs. $1.01 billion estimated, according to Refinitv Revenue: $3.10 billion, vs. $3.04 billion estimated, according to Refinitiv https://www.cnbc.com/2019/05/30/uber-earnings-q1-2019.html
by tealcosmo I narrowly avoided being scammed out of the entire amount of my house downpayment by a fraudulent email that looked very similar to an email that my lawyer would send. It looked so good, all the right details where there. I was even talking about the last closing details with the lender this … Read more
via Bloomberg: Credit market risk is at an all-time high, according to Scott Mather, chief investment officer of U.S. core strategies at Pacific Investment Management Co. The investment firm is defensive on the asset class as it sees high likelihood of a recession over the next three-to-five years. “We have probably the riskiest credit market that we … Read more
By Rystad Energy Nine in ten US shale oil companies are burning cash, according to Rystad Energy. Rystad has studied the financial performance of 40 dedicated US shale oil companies, focusing on cash flow from operating activities (CFO). This is the cash that is available to expand the business (via capital expenditure, capex), reduce debt, … Read more
via cnbc: So this will probably stir up political commenters from r/politics and lead to a locked thread, but I’m interested in long term J&J holders thoughts. It seems like J&J rolled the dice by playing hardball and not settling like the other two drug makers named in the suit did. Increasingly, it seems like J&J has taken … Read more
via mishtalk: In December, Powell said the Fed was on “autopilot”. Let’s compare those dot plots with current Fed Fund Futures. The above chart is from CME Fedwatch. December 11, 2019 FOMC Rate Odds on 2019-05-29 Hikes 0% No Change: 18.2% 1 Cut: 39.5% 2 Cuts: 30.5% 3 Cuts: 10.2% 4 Cuts: 1.5% 5 Cuts: 0.1% The … Read more