RZG News and Press, Invesco S&P Smallcap 600 Pure Growth From 08/25/22

Summary NGDP is a much better indicator than inflation, but still not perfect. If we assume the key macro problem is business cycles created by nominal shocks interacting with sticky wages, then aggregate wage income may be a better cyclical indicator than NGDP. A mild slowdow...

Summary The latest bear market pullback is now underway. How low can we reasonably expect stocks to go in the coming weeks? Individual opportunities amid broader market weakness. The latest bear market pullback is now underway . After bottoming in mid-June, the U.S. ...

Summary Global securities finance revenues reached $6.1bn in the first half of 2022, an increase of 12% YoY. Global ETP lending revenues were $453mn for H1, continuing to set new all-time highs, representing a 48% YoY increase. 2022 is off to an impressive start for Securities...

Summary Two shocks pushed the economy off course in the second quarter - Russia's invasion of Ukraine on 24 February and COVID-19 lockdowns in mainland China. Although real GDP decreased slightly in the first two quarters of 2022, do not call it a recession! With global demand...

Summary New Omicron outbreaks in the context of Covid-zero policy, the housing slump, and heat waves have been holding up the pace of the Chinese economy. China’s current growth slowdown is an additional step in the trajectory of gradually declining rates that has accompani...

Summary Equities rebounded in recent weeks as investors considered the prospects of a possible pivot by major central banks, especially after China’s central bank unexpectedly cut interest rates. Similar to Europe, core inflation and services inflation are expected to rise ...

Summary The July gain puts the level of total durable goods orders at $273.5 billion, the third highest on record. Despite the gain, real new orders for capital goods are trending nearly flat over the past year. Durable goods orders have posted a strong recovery from the lockd...

Summary The recent bounce in equity prices has just been a rather pedestrian bear market rally. Bull markets are not engendered by a faltering global economy, very high rates of inflation, and the most hawkish global central bank tightening cycle in history. The $6 trillion of hel...

A more attractive equity valuation environment, combined with the removal of uncertainty, may present opportunity for stock-specific alpha as the focus shifts to company fundamentals. Following three years of gains, U.S. equity markets have experienced a number of challenges thus far ...

Fed fund futures, bonds, and the dollar all see a very hawkish Fed. The stock market rally appears to be over as momentum chasing ends. Now all Powell has to do is leave no doubt in his message on Friday. A day of reckoning is coming for the stock market, possibly as soon as...