The Closer 3/10/16 – “Mario Is Still Super”
Looking for deeper insight on global markets and economics? In The Closer tonight we make the case that the ECB did not “disappoint” today and that the market has misinterpreted a major change of strategy from the central bank. We also review the Fed’s Z.1 release which summarizes the aggregate balance sheets of major macroeconomic sectors of the economy. The chart below is a sample of data from that report, showing household mortgage debt as a share of GDP.
The Closer also includes its standard charts, large volume and price movers in the US equity market, and Bespoke’s Market Timing Model. The Closer is one of our most popular reports, and you can sign up for a trial below to see it free for the next two weeks!
[thrive_leads id=’58717′]The Closer Special Edition – Corporate Profits: Whither, Why, and Wherefore?
Bespoke macro strategist George Pearkes published an in-depth report titled “Corporate Profits: Whither, Why and Wherefore?” The report, sent to Institutional subscribers only, takes a deep dive on a very important topic that is not widely appreciated by investors: the interplay of corporate profits, labor costs and fixed investment. Extremely elevated corporate profits (as a % of GDP) have been a key driver of stock market returns since the financial crisis. The strength in corporate profits has been from a confluence of muted labor cost increases, higher productivity, relatively low fixed investment and a low interest rate environment. As each of these factors has begun reversing, George argues that levels of corporate profits are likely unsustainable. As for what that means for equity returns, the key question is whether or not higher unit labor costs will be offset by gains in productivity from higher fixed investment. For those interested in the macro view, this report is a must read. If you struggled in your college macroeconomics course, this may bring back bad memories.
If you’re interested in viewing the report, subscribe to the Institutional service (Annual or Monthly) or start a 14 day trial (no billing info needed) by entering your name, phone number and email address below. If you have questions about our services, send an email to [email protected].
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The Closer 3/9/16 – “Inventory Issues”
Looking for deeper insight on global markets and economics? In The Closer tonight we break down monthly wholesaler sales and inventories published today by the US Census. We also look at petroleum inventories, look at the technical picture for WTI, and analyze a huge move in G10 FX today courtesy of two major central bank decisions.
The Closer also includes its standard charts, large volume and price movers in the US equity market, and Bespoke’s Market Timing Model. The Closer is one of our most popular reports, and you can sign up for a trial below to see it free for the next two weeks!
[thrive_leads id=’58717′]The Closer 3/8/16 – “Reversals Rife As Small Business Staggers”
Looking for deeper insight on global markets and economics? In The Closer tonight we review major reversals today in a number of sectors and trades that had worked well off February lows. We also summarize today’s NFIB Small Business Optimism report and related indicators, before giving our daily price action recap and rundown of overnight economic data ahead.
The Closer also includes its standard charts, large volume and price movers in the US equity market, and Bespoke’s Market Timing Model. The Closer is one of our most popular reports, and you can sign up for a trial below to see it free for the next two weeks!
[thrive_leads id=’58717′]The Closer 3/7/16 – “Consumers Not So Leveraged”
Looking for deeper insight on global markets and economics? In The Closer this evening we look at the data released today in covering consumer credit from the Federal Reserve. We also look at S&P 500 and sector-level valuations.
The Closer also includes its standard charts, large volume and price movers in the US equity market, and Bespoke’s Market Timing Model. The Closer is one of our most popular reports, and you can sign up for a trial below to see it free for the next two weeks!
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