Archive | April, 2018

The Unbearable Lightness of Earnings

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Baruch Lev is the Philip Bardes Professor of Accounting and Finance at the Stern School of Business, NYU. This article first appeared at the Lev End Of Accounting Blog and is shared here with his permission. Today’s Wall Street Journal published an article that caught my attention: “Next Up: The Forgotten Earnings Season.” The article opens: “Only once before have […]

US-German Bond Spreads & Equity Leadership

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Recent weak data emanating from the Eurozone has been weighing on German Bund yields. The significant drop in the Eurozone Citigroup Economic Surprise Index (CESI) has pressured German Bund yields lower. Looking through the structural decline in German yields, we can see that short-term, cyclical moves are driven by economic activity. As the CESI has […]

Energy Stocks Are Starting to Flow

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Energy stocks are looking lively today, with energy the best performing sector in the US and second best performing sector in Europe. The likely reason for the buoyant performance is a continued improvement in fundamentals. Inventory data released yesterday showed a steady decline in crude and refined product (ex-SPR) in the United States. Total barrels […]