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Money comes into existence in two ways: government spending and bank credit. And it is, likewise, destroyed in two ways: taxation and loan repayment. And money moves markets. In an earlier Seeking Alpha article , we showed that the flow of funds from the banking system (bank credit) was sta...
The Economic Policy Uncertainty Indices Measures of economic policy uncertainty are at all-time highs. This has historically led to depressed capex and equity valuations. Falling uncertainty, however, can be supportive of markets, with our longer-term analysis showing double-digit forward ...
Political Calculations' initial estimate of median household income in May 2020 is $65,669 , down 0.5% from April 2020's initial estimate of $66,027 . The change is primarily the result of the aggregate loss of wage and salary income recorded for the month as a continuing consequence of th...
By Jeremy Schwartz, CFA and Kara Marciscano, CFA Cloud stocks are rolling into benchmark indexes. Four of the pure-play cloud computing companies in the WisdomTree Cloud Computing Fund (WCLD) have been added to the S&P 500 and Nasdaq 100 indexes in the last year. Last week, Nasda...
Introduction From a peak of 35,925 daily new COVID-19 infections on 25th April, 2020, to a trough of 16,212 on 16th May, 2020, it appeared the US had the coronavirus pandemic under control. However, since then, we are now clocking over 44,000 new cases per day in a clear second wave of infec...
As expected, answers to the questions we asked last week were forthcoming, allowing us to eliminate one of the two primary hypotheses we raised for what caused the S&P 500 to suddenly drop 5.9% on 11 June 2020. The first hypothesis was that S&P 500 shifted their time hori...
Ed Yardeni made a nice call on expected calendar 2020 SP 500 EPS, estimating $120 – $125, and sure enough the IBES by Refinitiv data has settled in right around $125 for the full 12-months of 2020. The most recent data is bottom-up estimates from IBES by Refinitiv, with the first co...
Bloomberg reported this week that thirteen US companies (in the 50-million-plus size) filed for bankruptcy last week. That brought the total for the big boys and girls this year to 117, which matches the record peak for the first half of a year set in 2009. Already running consistently hi...
By Brian Levitt Is the nascent economic recovery V-shaped, U-shaped, L-shaped, W-shaped, square root-shaped, Nike swoosh-shaped or something else entirely? I haven't seen this much debate over what we perceive since we disputed whether the dress was blue and black or white and gold. Fo...
On the latest edition of Market Week in Review, Quantitative Investment Strategist Dr. Kara Ng and Head of AIS Business Solutions Sophie Antal Gilbert discussed the surge in coronavirus cases, recent global economic data releases and highlights from Russell Investments' just-published Q3 Globa...
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NEW YORK , Aug. 28, 2020 /PRNewswire/ -- Direxion continually reviews its product range to ensure it's meeting the needs of our clients. Based upon a recent review, the Board of Trustees of the Direxion Shares ETF Trust has decided to liquidate and close 15 ETFs (each, a "Fund" and c...