Stocks sold in 2020 secondary offerings closed on Tuesday 39% above their offering price on average. That’s outpacing the year’s 28% gain in the Nasdaq Composite Index, a 40% outperformance.
“Fundamentals might be good for the first third or first 50 or 60 percent of a move, but the last third of a great bull market is typically a blow-off, where the mania runs wild and prices go parabolic...”
The rebound in the euro is simply the flip side of the US dollar being undermined by uncertainty about the presidential election. The monetary muddle in Europe won’t help the currency after the dust settles in America...
“...I’m going to jail, OK? Because they’re going to say that I abused my position as a fiduciary, which I probably did, right? Maybe I should go to jail. But I’m asking you not to put me in jail.”
Senior editor, Ash Bennington, hosts Tony Greer, editor of The Morning Navigator, to continue their discussion of the wild inflation trade. They first look at…
But why not just borrow even more money while cutting taxes? After all, we are long past the point when anyone even pretends that the debt burden at the individual, corporate, state or sovereign level is sustainable or will ever be repaid.
"An explicit AIT policy would entail picking a specific time period over which PCE inflation is required to average 2% before beginning a policy normalization (hiking) process. This could require the Fed to remain on hold for 40 years."
A blockbuster auction just coming just two days before Powell's Jackson Hole webcast, indicates that virtually nobody has any concerns about a hawkish surprise out of the Fed.
The strong rally in Apple saw an abnormally strong "vol up-spot up" dynamic, that, over the past 10yrs, has almost never before been displayed to the same degree.
