Why 3rd Quarter Earnings Might Just Romp, Sage Predicts
One-shot wonder: New stimulus money and pent-up consumer demand will fuel profits, says economist David Levy. Alas, the 4th period won’t be so hot.
Market Moves
UK Corporate Pension Funding Falls in July
Aggregate deficit of the PPF 7800 has more than tripled over the past year.
Seth Klarman’s Diagnosis for the Market Rally: Virus-Prompted Impatience
Investors, cooped up and eager for normality’s return, are mistakenly bidding up share prices, he contends—and it won’t end well.
How David Einhorn Is Betting on Higher Inflation
Hedge fund chief thinks a small amount of inflation is coming, so he goes for TIPS derivatives, among other plays.
Giddy Market Focuses Only on the Fed Statement’s Good Half
The rest of the announcement, spotlighting the virus’ seemingly dauntless chokehold on the economy, gets ignored.
The Dollar Is in Peril of Getting Knocked Off Its Perch, Goldman Warns
Tumbling value for the greenback could end its status as the world’s reserve currency, the firm’s analysts say.
Canadian DB Pensions, Pooled Funds Rebound Sharply in Q2
Equities rally helps spur strong quarterly gains.
A 60-40 Portfolio Is Still the Bomb, Says Vanguard
Some have questioned the conventional asset split, but its performance during this messy year shows its worth, the firm declares.
Ackman Bets Against Junk Bonds, Now Resurgent
Hedge fund honcho thinks dragged-out economic recovery will harm high-debt companies.
Economy Faces a ‘Bumpy Ride,’ Says Goldman’s Chief
Recovery will take a long time, David Solomon warns.
The Federal Deficit Is a Forgotten Menace, Cooperman Says
Billionaire hedgie knocks Trump’s pre-recession big spending.
How GDP and Stocks Do When Dems and GOP Control the Presidency and Congress
If the White House and Congress are blue, the economy does best, LPL says. But a Democratic president and a Republican Congress do best for the S&P 500.
Global Green Bond Market Set to Explode
EU’s COVID-19 recovery plan could spur climate-friendly fixed-income volume to nearly double almost overnight.
Why Soros, Singer, Paulson (but Not Dalio or Buffett) May Soon Be Exempt from Disclosing Stock Holdings
SEC proposal would lift reporting threshold to $3.5 billion, from $100 million now.
Stock Market Will Be Flat for a While, Says Bob Doll
Flanked by giddy bulls and gloomy bears, the Nuveen strategist looks for an earnings rebound in the fourth quarter and a lessening of the virus’ malign effect.