In Part 2 we noted that the key main street economic metrics reflect no MAGA magic whatsoever. Since the election, inflation-adjusted paychecks have gone nowhere and almost anything else you can name—-business investment, real retail sales, productivity, employment and even real GDP—-continue to slog along in the tepid “recovery” channel that has prevailed since 2010. Notwithstanding…
Though it certainly seemed unlikely yesterday, the May natural gas contract ended up logging a small gain on the week, rallying 3% today to recover all of its losses yesterday. The result was a very slight weekly increase at the front of the natural gas strip, with larger losses further along. The May/June K/M contract…
Technology advances have infiltrated every corner of finance, including the world of wealth management. While few can argue with the positives of automated, algorithm-based portfolio management platforms, the advent of the cost-efficient, dispassionate robo-adviser has struck fear into the heart of many a financial adviser and fund manager, who see these technology options as a…
Earnings season is in full swing, with numerous banks reporting a strong uptick in bottom-line growth, driven almost entirely by the new tax changes. Other results were mixed, with negative surprises from Proctor & Gamble and Philip Morris, and positive surprises from the likes of GE and Netflix. Overall stocks gave back most of their…
It’s worth revisiting the topic of the “rising dollar.” What determines its exchange value in the first place? Orthodox convention associates the general direction up or down with interest rate differentials, the infamous global carry trade. Not just any interest rate comps, either, but those of short-term money markets. Thus, if the Federal Reserve is…
The latest monthly auto-loan data from the Fitch Auto ABS Index showed something very troubling: subprime delinquencies 60 days or more past due on the secondary market rose to 5.76% in February, the highest they’ve been in 22 years, or since 1996, and blowing past the highs hit during the 2008 financial crisis. At this rate, a…
It started with a slow drip. Then it became a trickle. Now it is an undeniable torrent. Negative economic data reports, once as rare as hen’s teeth, have suddenly become as common as NRA bumper stickers at a Trump rally. The economic data flow has definitely turned sour. Is this a growth scare? Or is it the beginning…
Honeywell International Inc. HON posted impressive first-quarter 2018 results with a year-over-year surge in revenues and adjusted earnings.The company’s adjusted earnings of $1.95 a share surpassed the Zacks Consensus Estimate of $1.89 by 3.2%. Notably, the reported figure increased 17.5% on a year-over-year basis. Operational Details Honeywell’s first-quarter revenues came in at $10,392 million, up 9.5% year…
