posted on Thursday, September 11, 2014
The combination of additional cuts to overnight borrowing rates and the announcement of the ABS purchase program was slightly more than expected from the ECB.
Over the past three Beige Books, the BBB has averaged +100, the highest reading over any three consecutive Beige Books since at least 2005.
We believe the "three Rs" are keys to the outlook for the stock market: revenues (and profits),
reinvestment, and the renaissance in manufacturing.
Over the past week, the LPL Financial Current Conditions Index (CCI) fell eight points after rising
for three straight weeks.
posted on Friday, September 05, 2014
Revisions to GDP don't often change the overall picture of the health, or lack thereof, of the
The first rate hike by the Fed has never been an indication of a market peak.
Historically, bond yields have begun to move more forcefully four to six months ahead of a
first rate hike from the Fed.
Over the past week, the LPL Financial Current Conditions Index (CCI) rose for the second straight
week, gaining four points to 272.
The market is not expecting the ECB to begin QE this week, although other forms of policy
support are likely
Although the decline in US Treasury yields has been significant in 2014, it is not quite at an extreme when viewed historically.
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