Japan’s Government Pension Investment Fund Returns 3.05% in Q2
World’s largest pension fund grows to $1.62 trillion with $47.64 billion quarterly gain and is on pace for its best year ever.
Market Moves
Dr. Doom: Partisan Divisions Will Axe a New Stimulus—and Bring Another Downturn
To economist Nouriel Roubini, a breakthrough is unlikely either in a lame duck Congress or the one next year.
A Divided Congress Is Good for Stocks, Study Says
When neither party controls both side of Capitol Hill, the S&P 500 does best, per LPL study.
Housing Surge May Be Ebbing, Economist Says
Much of the action has been in the high end of the market, notes TS Lombard’s Brennan.
Democrats Favored to Win the Senate, but Odds Narrow, Goldman Says
The firm’s analysis, based on stocks affected by a Biden tax boost, tracks findings of the prediction markets.
Biden Tax Hikes Would Help Junk Bonds, Says Market Savant
Maybe not so much stocks, but high-yield is well-positioned if the Democrat wins and enacts his agenda, Northeast’s Monrad forecasts.
Ray Dalio Sounds the Alarm about a Rising China
US weaknesses give the world’s second largest economy an opening, he warns.
Einhorn: The Tech Bubble Has Already Popped
To hedge fund impresario, crazed IPO issuance, overvalued stocks, and nutty post-split advances speak of a peak: September 2.
ETFs on the March: Huge Inflows in September Set Up 2020 for Near Record
They gathered $35.2 billion last month, which should make this year second only to 2017’s blowout.
How a Trump or Biden Victory Might Affect the Economy
S&P Global Ratings analyzes the candidates’ differences and ‘surprising similarities.’
From Here, Recovery Will be ‘Tougher,’ But Good Investments Persist
So say two savants from Principal Financial, at CIO’s Summit.
3Q Earnings Could Be Less Bad Than Expected
Corporate profits should lose just (just?) 17%, UBS says, better than previous forecasts.
Maybe a Biden Cap Gains Hike Won’t Keelhaul the Stock Market
Despite investor qualms, equities should keep heading north, JPM predicts.
Bullish Signs: Copper and Silver Shine Anew
The two metals’ prices have climbed nicely, a good counterpoint to the jobs situation.
4 Scenarios on Stimulus Package, Post-Election
What different combinations of control on Capitol Hill and the White House would mean, by LPL’s reckoning.