The US dollar was poised to close higher against against most of the major currencies for the week before news broke that former National Security Adviser Flynn plead guilty to two charges of lying to the FBI. The clear implication was that he was allowed to plead guilty to a lesser crime than he may have committed in exchange for cooperating with the investigation. The news sent the dollar sharply lower and weighed on equity prices. Both recovered, even if not fully. Sterling was the big winner of the week. It rallied to two-month highs on the back of optimism that a deal would be struck shortly to allow the next phase of Brexit nego...
Representing a major segment of EM stocks, TATS are the Asian ‘FANGs’, and they just suffered their worst week on record. Taiwan Semi, Alibaba, Tencent, and Samsung are TATS and account for over 16% of the MSCI EM Stock index (considerably more than FANG stocks represent in the S&P). TATS have traded lower for 4 of the last 5 days – tumbling almost 8% to one-month lows… Tencent is the biggest loser… The biggest weekly drop in the history of the 4 stocks… Overnight no BTFD in these names....
(1:00) – Bitcoin Surges To $10,000 (5:00) – Trump’s Tax Reform (10:10) – Jerome Powell’s Fed Chair Testimony (13:40) – Tech Sector Selloff (21:30) – Episode Roundup: [email protected] On today’s episode of the Zacks Friday Finish Line, Content Writer Ryan McQueeney and Editor Maddy Johnson take on this week’s biggest stories, including the progress made on the GOP tax bill, North Korea’s missile test, bitcoin’s historic week, and what it all means for the stock market in 2018. Throughout the week, investors reacted to a number of different headlines. From bitcoin reaching historic milestones ...
The sheer volume of real estate financing options made available to today’s investors is staggering. Whether you realize it or not, there are countless opportunities to land the funds for your next deal — if you know where to look, that is. Hard money lenders — and even private money lenders, for that matter — are practically “champing at the bit” to get their capital in the hands of savvy investors they know are going to get the job done. What’s more, traditional lending institutions offer a myriad of loan options for all sorts of properties. Case in point: there are plenty of real estate financing options out there if you ...
For many entry-level investors, hedge funds are shrouded in mystery and exclusivity. It’s common, for example, for media coverage to focus on the ultra-wealthy founders and CEOs of hedge funds, such as Ray Dalio or Bill Ackman, as well as their secretive investing strategies or exclusive clientele. Like investment banks, they are seen as an elite fixture on Wall Street, and they also get scapegoated for a variety of market problems ranging from manipulation to a lack of transparency. However, despite an image of complexity and secrecy, the basics around hedge funds are actually quite easy to understand. Today’s infographic from StocksToTr...
Investors in Master Limited Partnerships (MLPs) have more limited rights than most equity investors in corporations. They’re called Limited Partners (LPs) for a reason. There’s often a General Partner (GP) who runs the business on behalf of the LPs. GPs have preferential economics, governance, and information rights, and we concluded many years ago that the GP/MLP relationship looks a lot like the one between a hedge fund manager and his hedge fund (see MLPs and Hedge Funds Are More Alike Than You Think). GPs earn Incentive Distribution Rights (IDRs) rather than the ubiquitous “2 & 20” that has financed so many hedge fund and pri...
Short-Term/Daily: Bitcoin should continue to move higher off cumulative average support. Matching support from the top of Wednesday, November 29 is also given from parabolic channels. Intermediate-Term/Weekly: Continued bull market expected. Upside target of $17,000 once we see bullish confirmation. That will complete an inverted parabolic move. SHORT-TERM VIEW: Bitcoin found support around a cumulative average that is related to the preceding important lows: Support for Friday, December 1 is $9,019.21 from the 1/2 average shown. If the market breaks below $9,019.21, the next support level is $8,316.21 derived from the ...
Until a modest dip in Chinese bond yields in the past two days, 10y CGB and 10y policy bank bond yields soared by 40bps and 70bps, respectively, over the last 2 months. In fact, Chinese government notes are headed for the worst selloff since 2013, with the 10-year yield surging 86bps this year to 3.92%, and the yield of 10y CDB bonds rose above 5%. This bond rout and sharp spike in rates, caught the market by surprise, as the economic growth actually slowed in October and inflation is still below 2%. What happened to drive up interest rates so sharply? The most likely answer is also the simplest one: after years of aggressive debt expansio...
On today’s edition of Market Week in Review, Consulting Director Todd LaFountaine and Mark Eibel, director, client investment strategies, discussed market reaction to U.S. tax reform efforts as well as former U.S. National Security Advisor Michael Flynn’s guilty plea. Markets pleased by tax reform bill, unnerved by Flynn news The U.S. Senate’s efforts to pass a tax reform measure played out front and center in the U.S. the week of Nov. 27, Eibel said, with markets generally reacting positively to the news. The bill is expected to have enough votes to clear the Senate on Dec. 1—and from there, will need to be reconciled with the versio...