Stocks Hurt the World’s Largest Pension Fund Last Quarter
Japan’s GPIF lost a staggering $136 billion due to Q4’s rout in equities.
Market Moves
Dutch Pensions Felt Major Pain in Q4
Average funding ratios fell by seven percentage points, amid down December.
Jerome Powell’s Lousy Market Record for Fed Day Ends
Since he took over the Federal Reserve, stocks had dropped on days when its policymaking body wrapped up work—until yesterday.
How the Government Shutdown Will Ding the Employment Report
The 35-day closure will pump the jobless rate up to 4.1% for January, RSM’s Brusuelas says.
Fewer Stock Buybacks Now Are Debt-Funded
As rates rise, company share repurchases using leverage dipped to 14% of total in 2018, half the 2017 level, JPMorgan says.
Don’t Worry About the Housing Slump, B of A Says
According to an economist at the bank, lower mortgage rates should improve the situation, which provokes eerie memories.
Buy-Side Firms Feeling Less Rah-Rah About Economic Growth
Sentiment survey finds positive sentiment drops to 48% from 67%.
Straw in Wind? Near-Junk Ratings Dominate US Corporate Bonds
Baa–rated issues reach record, although defaults at this stage are not worrisome, Moody’s data indicates.
Why Index Fund Creator Jack Bogle Hated ETFs
The late Vanguard founder was best known for passive investing. But he decried its offspring, exchange-traded funds, as an abomination.
How Big a Year Was 2018 for Shareholder Activists? Very
M&A was the largest motivator, as a record number of campaigns were launched.
Seth Klarman Outfoxes Wildfires with Canny Insurance Bet on Utility
Billionaire hedge fund operator offsets equity stake in woebegone PG&E with purchase of liability claims against it.
US Economic Expansion Will Be the Longest in History, Bob Doll Says
Nuveen’s veteran stock strategist thinks it will surpass the 1990s’ record by summer.
Market Shrugs at Government Shutdowns, Sam Stovall Says
Historically, the S&P 500 has been flat when federal functions grind to a halt, and the index is up 7.5% since the latest closure.
CFOs Expect a Recession by 2020, Deloitte Says
Survey finds 55% of corporate financial chiefs expect a downturn, a marked decline in optimism.
Jerome Powell: Stock Market Poison
Under Federal Reserve chief, the S&P 500 has a history of selling off when the policymaking body meets.