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Answers to questions on the coronavirus, US megacap stocks, the cost of Democratic Healthcare plans, the Iowa caucus and the problem with the student loan system.
David Lebovitz says, a bit of optimism is priced in to equity markets, but valuations are not unsustainable, rather markets need to grow into these valuations.
Taken at face value, the fall in job openings is concerning and warrants careful monitoring.
Economists and analysts reacting to the deal have been pretty skeptical. I have aggregated representative responses below. I will give you my thoughts afterwards.
This equity market rally is driven by several factors – Fed easing, fears of a recession and what can be characterized as a trade truce, says David Lebovitz.
Last year, buybacks were all the rage; this year, the pace of share repurchases has slowed, but the pace of mergers and acquisitions (M&A) has accelerated.
The food fight between the President and the Fed Chair could result in too much easing, and the expansion of valuations beyond sustainable levels. The other food fight: leveraged loan issuers vs buyers. Issuers are winning this fight hands down due.