At the Fed’s Jackson Hole symposium last month, there were strong hints from Fed Chair Janet Yellen and Vice Chair Stanley Fischer that they want to raise rates in the near future, but they have broken such promises before.
Wall Street opposes increased taxes on securities transactions.
How a Single Word from the Fed Can Wipe Out Markets
The Committee to Destroy the World opened is hydra-headed mouth one too many times last week.
With central banks owning $25 trillion of financial assets and sovereign wealth funds owning countless trillions more, it is time to ask whether capitalism as we know it is a thing of the past.
This method of measuring risk on high-yield bonds isn’t just wrong – it ensures investors a bad outcome.
Junk bonds may be rallying but it has little to do with corporate credit quality, which just keeps deteriorating.
Citigroup apparently didn’t learn its lesson.
The S&P 500 hit another record high last week on the back of an employment report that was boosted by “large seasonal adjustments,” which is really just another way of saying the government is manipulating the numbers.
Even after these adjustments, however, three- and six-month average job growth is below 200,000 and also lower than a year ago. The last two months’ reports were boosted by higher government hiring (+71,000, the highest two month level since 2010).
Until somebody launches a political attack that throws central bankers off their current course, it appears that little will dissuade investors from voting with their pocketbooks – and that is an extremely dangerous prospect .
Michael Lewitt warns that much of the advice published by financial media will clean out your bank account.