Wall Street Journal (October 9)
“Investors worried about the recent pullback in stocks are counting on the coming earnings season to give them something to get excited about. For much of 2023, U.S. stocks roared higher despite lackluster corporate profits. But an accelerating selloff in bonds has pushed longer-term yields near their highest levels in more than a decade, denting enthusiasm for stocks.”
Tags: 2023, Bonds, Earnings season, Investors, Lackluster, Profits, Pullback, Selloff, Stocks, U.S., Worried, Yields
Bloomberg (October 3)
“Global funds further trimmed their Chinese stock holdings in September, extending a relentless selloff and lowering their average position in the country to the lowest level since 2020,” as “outflows surpassed the $3 billion level for a second consecutive month.” The MSCI China Index has now slumped more than 11% in 2023 and is “ on track for a third straight year of losses, which would mark its worst losing streak in two decades.”
Tags: $3 billion, 2020, 2023, China, Global funds, Losing streak, MSCI China Index, Outflows, Selloff, September, Slumped, Stock holdings
Wall Street Journal (March 13)
“For the second time in 15 years (excluding the brief Covid-caused panic), regulators will have encouraged a credit mania, and then failed to foresee the financial panic when the easy money stopped.” Other banks may be exposed to the duration risk that brought down Silicon Valley Bank (SVB), “as last week’s selloff in regional bank stocks shows…. Something like 85% to 90% of SVB’s deposits are uninsured. The worry is that depositors in other banks will now flee.”
Tags: 15 years, Banks, Covid, Credit mania, Deposits, Duration risk, Easy money, Exposed, Financial panic, Regulators, Selloff, Silicon Valley Bank, Uninsured
Wall Street Journal (August 2)
Last week, European Central Bank (ECB) President Mario Draghi was prepared to do “whatever it takes” to save the euro. This week, he
“dashed hopes… unleashing a global selloff.” His “apparent backtracking on ECB intervention illustrates the challenge he faces in managing the central bank’s biggest shareholder, Germany.”
Last week, European Central Bank (ECB) President Mario Draghi was prepared to do “whatever it takes” to save the euro. This week, he
“dashed hopes… unleashing a global selloff.” His “apparent backtracking on ECB intervention illustrates the challenge he faces in managing the central bank’s biggest shareholder, Germany.”
