Yesterday markets saw a large default in the energy space. Arch Coal filed for Chapter 11 bankruptcy citing tumbling domestic coal demand as the reason. Arch Coal’s default on $3.2 billion will raise the metals and mining sector’s trailing 12-month default rate from 11% at the end of December to 15% through today. However, it will bring the default rate for the coal sub-sector to an..
Read Full ArticleIn the coming days the Federal Reserve is set to end Quantitative Easing, the six year economic stimulus experiment. Quantitative Easing, or “QE” has been a hotly debated topic over the years. We have discussed its impact on markets and investor behavior often. Whatever one’s view on the moral hazards of QE, there is no denying the actions taken by the Federal Reserve over the past six years have..
Read Full ArticleApril is off to a rough start for equity investors as the S&P 500 Index declined more than -3% through the week ended April 11th. The more volatile NASDAQ 100 fell more than -4%. Its been popular to blame the decline on “Tax Selling”, the practice of selling last year’s big winners to pay capital gains tax. The assumption is that after a big year for stocks like 2013, equity markets suffer higher..
Read Full ArticleNegativity has become quite fashionable these days among investors. Not without good reason. Soaring deficits, a dysfunctional congress and manipulated interest rates are just a few. But with the debt ceiling crisis averted for now, there are reasons for short term optimism.
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