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Results: 274 Articles found.

TURNING POINT FOR MUNIS?

October was the worst month for municipal bonds since August 2013 as record supply and rising rates took their toll on the sector. Supply hit monthly records in August and September, and an all-time record in October, as municipalities tried to get issues to the market prior to any potential election- or Fed-driven volatility.

READY FOR THEIR CLOSE-UP? DEFICIT & DEBT

The good news is that the deficit, debt, and pace of federal spending are not on the market’s radar screen at this time. Currently, the only way to change the course of the deficit and debt over the medium and long term is to cut spending or raise taxes (or both) via meaningful programs, and in Washington today, neither seems very likely.

WHAT A WEEK

We reflect on last week’s surprising stock market reaction to Donald Trump’s unexpected election victory. The S&P 500 gained 3.8% last week, its best since October of 2014. The Dow Industrials and small cap Russell 2000 delivered their best weeks since December of 2011.

EARNINGS UPDATE: END OF A LONG DROUGHT

The earnings recession was not quite as long as the Cubs’ World Series drought, but we — like Cubs fans — are glad the drought is over. Corporate America ended its earnings drought in style, with S&P 500 earnings tracking to a 4% year-over-year increase for Q3 2016, well above prior estimates.

BONDS TO FED: READY, SET, HIKE

Positive economic data contributed to a rise in Treasury yields last week, a positive sign for the economy but painful for fixed income investors. Trends in fixed income markets signal that the economy is in good shape to weather a potential Fed rate hike in December.

 
Results: 274 Articles found.


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