Vanguard FTSE Developed Markets ETF
You Can Own a Piece of the Entire Stock Market—Here’s How
Labor Market Slack Impacts Prices and Wages
If the unemployment gap is declining and the participation gap is rising, it could be due to an increase in labor market slack.
Philips Announced the Pricing of Its Lighting IPO
Koninklijke Philips (PHG) raised 750 million euros ($839 million) from its initial public offering (or IPO) of its Lighting business.
Why Commodity Trading Advisors Fare Well When Nothing Else Works
CTAs (commodity trading advisors) offer diversification benefits (commodity exposure when the equity markets are down), along with liquidity.
Markets Extend Rally on Stimulus Hopes, FTSE 100 Remains Flat
The FTSE 100, the United Kingdom’s major index (EWU), has been on rising trend after the sharp fall for two days following the Brexit referendum.
What Paul Krugman Thinks about Japan’s Yield Curve Control Policy
In its latest policy move, the Bank of Japan left rates unchanged and delayed inflation target timings for the Japanese economy (EWJ) (HEWJ) (DXJ).
Investing in Latin America Can Bear Fruit, but Should We?
With commodity prices recovering and major developed markets (EFA) (VEA) caught in the lull, Latin America should see sunnier days ahead.
How Canadian Pacific Railway’s Volumes Compared to Peers
Canadian Pacific Railway (CP) is Canada’s second-largest freight rail.
Canadian Pacific Railway: Rise in Railcars Cover Intermodal Fall in Week 33
Canadian Pacific Railway witnessed a volume loss in the intermodal space in week 33 of 2017.
Overview: An introduction to Mars pipelines’ expansion program
Mars’ mainline capacity is a 54-mile segment from the connections to Ursa and Medusa at the West Delta to the connection with the Amberjack pipeline at Fourchon, Louisiana.
Why is Shell expecting to increase revenue and earnings by 2015?
Revenues from the Bengal refined pipeline operation is expected to decrease by 6% from 2013 to 2015 level.
Outlook Projections: IMF Cuts Global Growth Forecasts
The IMF cut its global economic growth forecasts, according to the latest IMF World Economic Output Update dated July 19. The cut in forecasts was expected.
Emerging Market Small-Cap Stocks Focus on Local Sectors
Emerging market small-cap stocks offer exposure to consumer sectors. EEMS has 18% exposure to consumer discretionary stocks.
Where Stanley Druckenmiller Is Bullish
Last week, Duquesne Family Office, managed by Stanley Druckenmiller, filed its Q3 13F with the SEC. We’ll look at the fund’s top holdings, buys, and sells.
Exane BNP Paribas Upgrades Koninklijke Philips to ‘Outperform’
Koninklijke Philips (PHG) has a market cap of $24.7 billion. It fell by 0.94% to close at $26.48 per share on May 11, 2016.
Must-know: The assets of the Shell Midstream Partners
Zydeco is a wholly owned subsidiary of SPLC, the general partner of Shell Midstream.
Why Are Global Markets Range Bound?
The contrasting movement among the global markets was primarily due to caution ahead of the Bank of England’s monetary policy release on July 14.
Analysts’ Recommendations for GlaxoSmithKline in May
GSK reported EPS of 24.60 British pence on revenue of 7.22 billion pounds, surpassing Wall Street analysts’ consensus estimates.
3 reasons why the US dollar should strengthen in 2014
But while the currency has been range bound for the past two years, there are three reasons why I would expect a stronger dollar over the next year.
How Were Fiat Chrysler’s Sales in May?
Fiat Chrysler Automobiles (FCAU) fell by 1.6% to close at $6.76 per share at the end of the third week of June 2016.
The Japanese Housing Sector Sent a Mixed Signal in December
According to the Ministry of Land, Infrastructure and Transport, Japanese housing starts fell 1.3% in December YoY as compared to a rise of 1.7% in November.
Must-know: Risks of investing in the frontier
You need to exercise caution while investing in frontier markets due to problems of liquidity and high concentration in the finance sector.
US taper in 2014 will be a tailwind for the yen exchange rate
While the US slows and eventually stops QE (quantitative easing), Japan will continue and likely increase QE In Part 1 of this series, I made the case that the BoJ (Bank of Japan) will likely step up its monetary easing, as current efforts haven’t led to the level of inflation it’s targeting. At the same […]
Why emerging markets have underachieved since 2013
I’ve been writing a lot lately about investing in emerging markets. It’s no wonder, then, that many investors are asking me for more details regarding my views of emerging market debt and equities.
Should you worry about the growing debt in emerging markets?
Overall, emerging markets have debt levels relative to both gross domestic product and income that are still considerably lower than those of developed markets.
Overview: 3 things to know about currency hedging
Your total return depends on both equity and currency returns, which are sensitive to economic, political, and market events, and fluctuate over time.
Must-know: Why international dividend funds give you better value
While stocks offer better value than bonds, I would bring up exposure to international and global dividend funds rather than focus exclusively on U.S. dividend funds, which look more expensive.
Icahn Identifies a Key Motivation behind the Buyback Spree in the US
Carl Icahn is one of the first activist investors to voice his opinion against share buybacks. He believes that companies are increasingly putting money into buybacks instead of using them for much-needed capital improvements.
Why Shell Midstream Partners filed for an initial public offering
During the 12 months ending March 31, 2014, Shell Midstream had pro-forma revenues of $99.8 million and net income of $89.6 million, according to its IPO filing.
Bill Gross: Unfortunately, We Aren’t Playing Monopoly
In Monopoly, the $200 of credit creation never changes. In the real economy, credit creation isn’t guaranteed to occur at the same pace each year.
What If Low Interest Rates Don’t Result in Increased Lending?
With most of the developed world at near zero or negative yields, the contribution of lowering interest rates to the velocity of money is diminishing.
Millennials or Baby Boomers: Who’s Affected Most by Student Debt?
The Baby Boomer generation has also been increasingly contributing to the student debt crisis.
A Trump Presidency: What Are the Odds?
With Hillary Clinton leading Donald Trump in the polls before Tuesday’s US presidential election, the projected results are still uncertain. However, a Trump victory may not be good news for those invested in emerging markets.
The “Great Deleveraging” that never happened: The US debt problem
For several years, media headlines have been filled with references to a mythical “deleveraging,” or a reduction in the level of U.S. debt. In reality, U.S. non-financial debt has increased.
GlaxoSmithKline Could Witness Modest Rise in Revenues in 2017
GlaxoSmithKline (GSK) is a leading player in the global respiratory market with a major focus on the asthma and chronic obstructive pulmonary disease (or COPD) segments.
Key Updates on Novartis’s Kymriah
In December 2017, Novartis (NVS) presented updated results from the Juliet clinical trial, which demonstrated sustained responses of Kymriah (tisagenlecleucel) for the treatment of adults with relapsed or refractory diffuse large B-cell lymphoma (or DLBCL).
Reading the Estimates for Novartis’s Alcon in 4Q17
For 4Q17, Alcon is expected to report growth in revenues, driven by the increased demand for contact lenses and surgical products.
Zelboraf Could Boost Roche’s Sales Growth in 2018
Roche’s (RHHBY) Zelboraf (vemurafenib) is indicated for the treatment of individuals with unresectable or metastatic melanoma with the BRAF V600 mutation.
How Is Roche’s Hemlibra Positioned for 2018?
Roche’s (RHHBY) Hemlibra is used for the prevention and reduction of the frequency of bleeding episodes in individuals with hemophilia A with factor VIII inhibitors.
What to Expect from Roche’s Investigational Drug Polatuzumab Vedotin
In December 2017, Roche (RHHBY) presented the results of its randomized phase two GO29365 trial.
Novo Nordisk’s Xultophy, Ryzodeg, and Fiasp Could Boost Revenue Growth in 2018
Novo Nordisk’s (NVO) Xultophy (insulin degludec and liraglutide combination) is used as an addition to diet and exercise for improvement of blood sugar levels in adults with type-2 diabetes mellitus whose blood sugar level could not be controlled adequately with basal insulin.
Analysts’ Recommendations for GlaxoSmithKline in November 2017
Wall Street analysts estimate that GlaxoSmithKline’s (GSK) top line could fall 0.8% to ~7.5 billion pounds in 4Q17.
How Roche’s Oncology Drug Gazyva Is Positioned after 3Q17
In 3Q17, Roche’s (RHHBY) Gazyva generated revenues of 69 million Swiss francs, which reflected ~34% growth on a year-over-year (or YoY) basis.
How Did Novartis Perform in 1H17?
In 1H17, Novartis (NVS) reported revenues of around $23.8 billion, a ~1% decline on a year-over-year (or YoY) basis.
Changes in AstraZeneca’s Valuation after Its 2Q17 Earnings
AstraZeneca’s (AZN) stock value has fallen ~11.9% over the last 12 months. Wall Street analysts estimate that the stock has the potential to return ~16.6% over the next 12 months.
How Did GlaxoSmithKline’s Segments Perform in 2Q17?
GlaxoSmithKline’s Pharmaceuticals segment reported revenues of 4.36 billion pounds during 2Q17—12% growth compared to 2Q16.
Behind Novartis’s Valuation after 2Q17
Novartis missed the analysts’ estimate for 2Q17 revenues, reporting $12.24 billion and falling short of $12.27 billion, but surpassed the estimate for EPS.
How Analysts View Fresenius Medical Care and Its Peers in August 2017
In 1H17, Fresenius Medical Care (FMS) reported revenues close to 9.0 billion euros, which represents 14% YoY growth. At the end of 2Q17, the company operated 3,690 dialysis clinics around the world.
GlaxoSmithKline’s 2Q17 Earnings Reveal Growth
In its earnings release on July 26, GlaxoSmithKline (GSK) reported 12% growth to ~7.3 billion pounds in its 2Q17 revenues. GSK surpassed analysts’ estimates for revenues and earnings per share.
How Did Fixed Income Markets React to the First Round?
Demand for fixed income securities will likely be subdued because of excess supply this week, which would mean additional support for bond yields.
Entresto Could See Steep Rise in Total Prescriptions This Year
Novartis’s (NVS) heart failure drug, Entresto, has been witnessing a steep rise in both new to brand prescriptions as well as total prescriptions in the US market.
What to Expect from AstraZeneca’s Farxiga in 2017
Despite intense competition, AstraZeneca (AZN) managed to report 11% year-over-year (or YoY) revenue growth for its diabetes franchise in 2016.
Yield Curve Is Steepening: What Does It Indicate for the Market?
In this series, we’ll compare yields across various developed markets (EFA) (VEA). We’ll also look at how a steepening yield curve affects the financial sector (XLF).
Why Did Ifo’s Release Show Gains in Construction and Retail?
The overall Ifo business climate suffered a setback in July. Looking at the sector-based performance, the construction and retail sector saw a rise.
How Are Inflation, Interest Rates, and Foreign Exchange Related?
A low rate of inflation doesn’t guarantee a favorable exchange rate. But a high inflation rate is likely to have a negative effect on a currency’s value.
Moody’s Upgraded Fiat Chrysler’s Ratings
Fiat Chrysler Automobiles (FCAU) has a market cap of $8.5 billion. It fell by 2.5% to close at $6.56 per share on July 19, 2016.
Inflation Rises in United Kingdom: Should Go Higher on Weak Pound
Inflation rate in the United Kingdom pushed higher to release at 0.5% on an annual basis in June. However, it was still below the central bank’s target of 2%.
Weak Data Puts Downward Pressure on European Indexes
On July 6, major European indexes were trading lower for the second day. The fall in the indexes was led by the Italian FTSE MIB and the UK-based FTSE 100.
Are Global Indexes Pointing to a Weak Start for US Markets?
The fall in European markets was led by the German DAX and the French CAC 40—they fell by 1.3% and 1.4%, respectively.
Does the FTSE 100 Reflect the United Kingdom’s Economic Sentiment?
The FTSE 100 had a rollercoaster ride in the previous month. The index fell to a low of 5,788.74 on the day of the United Kingdom’s referendum results.
FTSE 100 Leads the Gains in Global Markets
On June 29, the rise in European indexes was led by the United Kingdom’s index FTSE 100. It suffered the most since Brexit. The FTSE 100 rose by 3.6%.
Fiat Chrysler Rose with Its Electric Vehicle Plan
Fiat Chrysler Automobiles rose by more than 4.1% on June 20, 2016, after the news that it is planning to add full electric vehicles in its product line.
Share Buybacks: Lower Valuation or Cheap Capital?
By reducing the number of outstanding shares, companies increase the EPS. Through share buybacks, companies return more cash to shareholders.
Consumerism Abroad to Drive Growth in Mexico
Mexico is known for its industrial base. In 2015, vehicles constituted about 23.7% of Mexican exports, followed by electronic equipment at 21.3% of exports.
Why Israel’s Economy Is Still Resilient
Israel’s government debt as a proportion of gross national product has declined steadily this century.
Eurozone Manufacturing Eased in January
In-line with the flash estimate, the Eurozone’s manufacturing PMI (purchasing manufacturers’ index) stood at 52.3 in January 2016.
Sony’s Revenue and Income Rose in 3Q15
Sony (SNE) has a market cap of $29.8 billion. SNE rose by 17.7% to close at $23.88 per share as of January 29, 2016.
Sony Fell on Falling Apple iPhone Production
Sony (SNE) has a market capitalization of $30.2 billion. SNE fell by 7.2% to close at $23.63 per share on January 6, 2016.
Getting Caught in the Daily Indicators Hurts Your Bottom Line
The president of Bank of America’s (BAC) wealth management business, Keith Banks, advises investors to have a long-term strategy at this point in the market.
Bank of England Stays Put with Current Bank Rate
The Bank of England Monetary Policy Committee (or MPC) voted by a majority of 8:1 to maintain a bank rate at 0.5% yesterday.
American Investors Could Be Hurt by Home-Country Bias
If you’re prone to home-country bias, consider diversifying. Adding emerging markets to your portfolio could improve your risk-adjusted returns.
Why the Young Brazilian Population is Key to Brazil’s Success
The young Brazilian population could revive the economy. A younger population is a key demographic indicator to watch out for.
Central Bank Divergence Led to a Stronger US Dollar
The disparity in GDP growth in the US and other major developed economies led to central bank divergence. The US is the only bright spot in developed markets.
Quantitative Easings Led to Spread Compression in European Bonds
The European Central Bank on Thursday, January 22, delivered basically what the market expected for QE (quantitative easing).
Low Consumer Confidence in Europe Has Affected Growth
European citizens have gone through a lot of hardship in the last decade or so, which has resulted in low consumer confidence in Europe.
Why Frontier Markets Are Good Diversifiers
Frontier markets are good diversifiers. Frontier markets are still relatively insulated from the rest of the world.
What is the impact of Abenomics?
In calling for a snap election, Shinzō Abe deferred the second hike in taxes from 8% to 10% by 18 months. This may not be a policy failure, but it certainly hints that the government will need to do more to help the economy find its legs.
What rating action did Moody’s announce for Japan?
On December 1, 2014, Moody’s Investors Service, a business unit of Moody’s Corporation (MCO), downgraded Japan’s debt rating by one notch, from Aa3 to A1, with a stable outlook.