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Seeking Alpha (October 11)

2018/ 10/ 12 by jd in Global News

“Recent history has taught us to buy the dip. Even the eye-watering declines in February proved worth buying. But this time looks different. This may not be a dip worth buying.”

 

Financial Times (August 25)

2018/ 08/ 28 by jd in Global News

“The US stock market this week reached twin landmarks: an all-time high, and the longest bull run in history. Yet it is shrinking…. The tally of listed domestic companies in the US has almost halved from 8,090 in 1996 to 4,336 last year.”

 

New York Times (August 9)

2018/ 08/ 11 by jd in Global News

The $30 trillion U.S. stock market hogs the attention, but “the larger domestic debt market—at around $41 trillion for the bond market alone—reveals more about our nation’s financial health. And right now, the debt market is broadcasting a dangerous message: Investors, desperate for debt instruments that pay high interest, have been overpaying for riskier and riskier obligations….  with little concern that bonds can be every bit as dangerous to own as stocks.” The mispricing of risk is still rampant and when spreads rise and defaults begin, “trillions of dollars in invested capital could be lost.” Although, we’re not necessarily “on the verge of a recession. But the corporate debt bubble inevitably will play a role in causing it.”

 

South China Morning Post (August 3)

2018/ 08/ 05 by jd in Global News

“China has just ceded its four-year title as the world’s second-largest stock market to Japan, as an intensifying trade spat with the US and its campaign to reduce leverage weighed on equities.”

 

 

Wall Street Journal (April 3)

2018/ 04/ 04 by jd in Global News

“Donald Trump hasn’t been talking about the rising stock market lately, and no wonder. Stocks have given up their earlier gains since the President unveiled his protectionist trade agenda” amid concern over “uncertainty from rising trade tension.” So far, China’s response “is measured, affecting $3 billion in annual trade or about 2% of U.S. goods exports to China, but it sends a pointed message that a larger trade war would hurt American businesses, farmers in particular.” If China subsequently moves to target “America’s biggest exports to China, such as soybeans and Boeing aircraft,” the pain will be much greater.

 

Newsweek (January 18)

2018/ 01/ 20 by jd in Global News

“As 2018 begins, the United States has become the largest producer of gas, oil, and coal in history. Its stock market is at record levels. The economy is growing at a 3 percent rate—and unemployment may dip below 4 percent, even though some commentators have claimed over the last decade that it likely would never fall below 5 percent again. The auto, steel, manufacturing, financial, agricultural, and high-tech industries are ascendant.”

 

Bloomberg (April 11)

2016/ 04/ 12 by jd in Global News

“For global equity investors and Shinzo Abe, it’s splitsville.” For 13 straight weeks during 2016, “foreign traders have been pulling out of Tokyo’s stock market.” They’ve dumped “$46 billion of shares as economic reports deteriorated, stimulus from the Bank of Japan backfired and the yen’s surge pressured exporters. The benchmark Topix index is down 18 percent in 2016, the world’s steepest declines behind Italy.”

 

Washington Post (February 17)

2016/ 02/ 19 by jd in Global News

“It’s economists vs. the stock market. Economists generally don’t forecast a recession anytime soon,” but the stock market sure seems to be forecasting one. “Who’s right? We’ll know in a few months. Meanwhile, the dispute highlights the incomplete nature of the present recovery, which has lasted a long time but, to millions of Americans, still feels unsatisfactory.”

 

Financial Times (August 31)

2015/ 09/ 01 by jd in Global News

“China’s government has decided to abandon attempts to boost the stock market through large-scale share purchases, and will instead intensify efforts to find and punish those suspected of “destabilising the market.” Many will appreciate the capitulation to market forces, but the prospect of a witch hunt stokes new fears. “In a worrying signal for global investors with a presence in China, some officials have argued strongly for a crackdown on ‘foreign forces,’ which they say have intentionally unsettled the market.”

 

Washington Post (August 26)

2015/ 08/ 27 by jd in Global News

“First was the dot-com bubble, then the housing bubble. Now comes the commodities bubble.” The stock market’s current turmoil is “driven at least in part by a bubble of raw material prices. Their collapse weighs on world stock markets through fears of slower economic growth and large financial losses.”

 

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