European Equity Markets YTD October 11, 2013
While all major European markets are currently positive so far this year, equity performance has been led by Greece, Ireland, and Spain:
Read MoreWhile all major European markets are currently positive so far this year, equity performance has been led by Greece, Ireland, and Spain:
Read MoreOver the last 3 months, every bank in Europe has outperformed the MSCI World Index, some by 50-70%. Two-thirds of the companies sell for below book value.
Read MoreEven after the non-taper and government shutdown, TIPS yields are holding at an elevated level relative to recent trends. Have TIPS yields reset to a new range?
Read MoreWe often group stocks into either cyclical or counter cyclical baskets based on their GICS sector, and then measure the attributes of each group. The below chart shows the 20 day volatility of the counter cyclical basket of stocks relative to the cyclical basket.
Read MoreWithout any decisive economic data to influence its actions one way or another, the BOE opted to maintain its benchmark rate and the level of its bond-buying program:
Read MoreQuest Diagnostics estimated today that their 3Q EPS will be below analyst expectations. This has sent the stock lower in light of the rally today.
Read MoreA similar chart to one we posted last week that showed the percent of stocks trading above their 5 year average valuation, the one below shows the percent of stocks that are trading within 25% of their highest valuation level over the last 5 years.
Read MoreInitial unemployment claims were hit by a variety of ”one-off” factors including an IT upgrade in California and temporary layoffs in the private sector due to the government shutdown. The 4-week moving average moved from 305k to 325k.
Read MoreToday Citrix Systems is down over 11% in early trading after pre-announcing a Q3 shortfall in both revenue and earnings. This will likely lead to the stock breaking down in our relative strength point an figure charts, dropping below a three year old trading range.
Read MoreFor the last 20 years, valuations on the S&P 500 have correlated pretty well with the 25-54 year old male participation rate in the US. The now 13-year old structural bear market in the US is easy to see. The recent turn down in this participation rate suggest caution on equity valuations.
Read More