States have long been considered the best group of issuers in the municipal bond market, thanks to modest debt levels and ample taxing power. That’s still the case, though many states, including Illinois, Connecticut, New Jersey and Hawaii, are bedeviled by large unfunded pension liabilities … Read More
IF YOU’RE ONE OF THOSE UNEASY INVESTORS on the lookout for the next bubble that may go splat — a recent commentary by Stephanie Pomboy rates more than a quickie glance. Stephanie is the main maven of MacroMavens and a keen-eyed bubble spotter from way back.
A description of this summer’s stock-market climb might go like this: A low-volume rally shadowed by economic uncertainty and deeply indebted to the sensible popularity of defensive dividend stocks.
It’s a passable rendering of the 10-week, 10% rebound that has carried the S&P 500 to … Read More
The July employment report, which showed nonfarm payrolls weighing in with 163,000 additions, up from the previous month’s 64,000 new slots, was much better than anticipated. It was certainly much better than what the Wall Street guesstimaters were looking for with their fingers crossed — … Read More