With the topic of racial division increasingly top of mind in America, The Washington Post reports a new study suggests that the rural Northeat and South are the most racist regions of America. The study, based on Goggle searches for race-related phrases, shows racist people in the U.S. appear to be clustered along the Appalachian Mountains from Georgia, through New York and all the way up to Vermont. West of Texas, no region falls into the "much more than average" category.
"Margin loans at high levels, client cash at low levels and account holders at the firm logging in frequently." Believe it or not, that is not a description of day traders in China, but rather of US retail investors who, according to TD Ameritrade's Fred Tomczyk, are all-in at the wrong time.
While Bernanke claims that "Fed actions didn't favor Wall Street over Main Street," we suspect the following chart clarifies the effect of his and his predecessors actions on the average American...
LNKD has collapsed 27% on the back of missed revenues and lowered outlooks for Q2 and 2015 drastically. What is most dramatic - just as was seen with YELP and TWTR is the velocity of repricing which indicates just how far expectations for growth in the tech sector are from reality... and strongly suggests all is not well as El-Erian's "wedge" between markets and fundamentals snaps shut...
The recent quietude in the markets has our attention. Quietude in markets nearly always leads to unexpected increases in volatility. We use the term volatility not necessarily only in the sense of “must go down”, but rather in the sense that the quiet period will soon end. It could just as well result in a blow-off move (in the case of stocks) as in a sharp decline – at least from a purely technical perspective. The currency markets seem a bit more unsettled and have been making big moves for quite some time, which curiously haven’t altered the trajectory of “risk assets” much.
According to the latest SNB financial release, 18%, or CHF 95 ($102 billion) of the assets held on the SNB's balance sheet are, drumroll, foreign stocks! In other words, the SNB holds 15% of Switzerland's GDP in equities!
The 99% need to wake up. It ain’t the 1% – It is those who pretend to be on your side who deprive you of your real right to economic freedom.
Wall Streeters are not happy. According to the latest Bloomberg poll, 48% believe they are paid less (or much less) than they had hoped for. With the biggest banks cutting costs as new regulations force derisking and deleveraging (in theory), pay is taking a hit (although not so much for the CEOs). As one headhunter noted, "they're still making decent money, but it’s nothing like 2007," but ironically, a massive 71% of Wall Street bankers admit that their banks are still Too Big To Fail.
After an unprecedented 9 months in a row of gains, for a greater-than-27% gain, The US Dollar slumped in April. Down 3.5%, this is the biggest monthly drop for the greenback since April 2011 (near the end of QE2). The Great Unwind begins...
During the heyday of post-war prosperity between 1953 and 1971, real final sales - a better measure of economic growth than GDP because it filters out inventory fluctuations - grew at a 3.6% annual rate. That is exactly double the 1.8% CAGR recorded for 2000-2014. The long and short of it, therefore, is that there has been a dramatic downshift in the trend rate of economic growth during an era in which central bank intervention and stimulus has been immeasurably enlarged. How exactly is the Fed helping when the trend rate of real growth has withered dramatically?