Currently, valuation measures are clearly warning the future market returns are going to be substantially lower than they have been over the past eight years. Therefore,if you are expecting the markets to crank out 10% annualized returns over the next 10 years for you to meet your retirement goals, it is likely that you are going to be very disappointed.
Italian authorities are calling for monitoring of the funding of an NGO fleet bussing migrants into the EU from the North African coast after a report released the European Border and Coast Guard Agency has determined that the members of the fleet are acting as accomplices to people smugglers and directly contributing to the risk of death migrants face when attempting to enter the EU.
The mystery surrounding President Trump's claim that he was wiretapped by Barack Obama during the 2016 election campaign deepened on Monday with the disclosure that the controversial House Intel Chair, Devin Nunes, reviewed classified information about the charge while on White House grounds.
One upon a time, the benevolent future was supposed to bemuse with hoverboards, flying cars and interplantary travel. Instead, according to the folks at Slovakia's Bozena Riot Security Systems, the dystopian future has arrived, and it is made of armored plates and riot gear.
In September 2008, Treasury Secretary Hank Paulson reportedly begged House speaker Nancy Pelosi on one knee to support his bailout plan - it worked. Nine years later, faced with a crisis of his own, Speaker Ryan reportedly got down on one knee to plead with Rep. Don Young of Alaska – the longest-serving Republican in Congress - to support the bill. (He was unsuccessful.)
The South African Rand erased its advance to become the worst performer in emerging markets after we detailed earlier that President Jacob Zuma ordered an international investor roadshow aborted - serving as a wake-up call to the country’s political risks.
After last month's stellar 2 Year auction, today's issuance of $26 billion in 2 year paper was a bit of a let down, printing at a yield of 1.261%, or a 0.1 bp tail to the 1.260% When Issued. However, the internals were decidedly better with the highest Indirect bid going back to February 2016.
"Watching things trade on Friday afternoon baldly made the point that traders have lost confidence in their ability to interpret what’s plainly market-moving news. Far from hoping to be the first to trade, they need someone else to commit and help create the narrative."
Bill Gross and his former employer PIMCO announced that they have reached an amicable settlement of the breach-of-contract lawsuit filed by Mr. Gross in October 2015, under which Gross would reportedly be awarded $81 million.
While Democrats debate whether or not to filibuster the Neil Gorsuch nomination for Supreme Court, moments ago they delayed for one week an initial committee vote on Gorsuch. Senator Chuck Grassley, the chairman of the committee, said Democrats had requested that the committee's vote on Gorsuch be punted to next week.
"Recalibrating political expectations is the main reason for the softness as investors debate the timing and scope of a tax bill, although the market isn’t abandoning hope of action on the tax front by any means and until that happens the SPX will struggle to sustain sig. weakness."
"Now, obviously we have to find a point at which to reestablish modest net short positions and we shall; but not likely today. Today we shall watch how things develop; we are but mice in the fields with elephants at the moment and ‘tis best to stay away from stampeding elephants when at all possible."