UMich Sentiment Slumps Near 2018 Lows As Income Expectations Tumble

Preliminary data for May’s UMich sentiment survey showed a tumble in current conditions (and small rise in hope) but the final data showed both sliding notably intra-month with the headline sentiment index at its lowest since January. Headline Sentiment slipped from 98.8 prelim to 98.0…

“What Is The Magic Number?”: Wall Street Answers The Most Important Question For Investors Today

In its latest Fund Manager Survey, Bank of America asked what may be the most important questions for investors today: “What level of US 10y Treasury yields would cause you to rotate from equities into bonds?“ That level, which Bank of America’s Michael Hartnett has…

UMich Sentiment Flat As Stock Market Confidence Hits 13-Month Lows

After slipping in April, May’s preliminary University of Michigan sentiment survey was flat at 98.8 (as hope rose and current conditions slipped). Current Conditions dropped from 114.9 to 113.3 Expectations ‘hope’ rose from 88.4 to 89.5. The headline index was unchanged… What is likely to…

Inflation “Warning Lights” Are Flashing As Manufacturing Prices Soar Most Since 2011

Despite a tumble in ‘hard’ and ‘soft’ data in April, Markit reports the Manufacturing PMI survey surged to 56.5 (as expected) – its highest since Sept 2014. Output is rising at its fastest pace since Jan 2017 as inflationary pressures intensify dramatically. As is usual…

‘Hope’ Just Died In The Empire State

Extending the run of disappointing ‘soft’ survey data (plunging to its weakest since Dec 2016), today’s Empire State Manufacturing survey fell notably below expectations.   But under the hood, the survey was very worrisome… the six-months-ahead-general-business-conditions sub index (aka ‘hope’) collapsed at the fastest rate…

Job Openings Tumble By 176,000, Led By Food Service And Construction Workers

One month after the BLS reported that according to last month’s JOLTS survey, the number of job openings soared from 5.667 million, a six-month low which spooked analysts into wondering if the labor market is peaking, to 6.312 million, a 645,000 monthly increase and the…

BofA’s Striking Admission: Markets Will Soon Begin To Panic About Debt Sustainabily

In the latest BofA survey of European fixed income investors (both IG and high yiled), the bank’s credit analyst Barnaby Martin writes that “after fretting about inflation at the start of the year, April’s credit survey shows that the biggest concern has reverted back to…

91% Of Cypriots See ‘Fake News’ As A Problem (And They’re Not Alone In The EU)

According to a recent Eurobarometer survey, at least seven in ten respondents in all 28 EU member states perceive fake news to be a problem in their country. You will find more infographics at Statista The share was highest in Cyprus with 91 percent saying “yes,…

What Wall Street Thinks Is The Biggest “Tail Risk” And How It Will Trade It

When we discussed the latest BofA Fund Manager Survey yesterday, we highlighted the sudden, unexpected drop in buyside perception of global economic health, as expectations for faster global growth tumbled by more than half, or 19% to net 18% in March, the lowest level since…

These Are The Regions The Ultra Rich Want To Leave

As part of Knight Frank’s latest Wealth Report, a survey of over 500 leading private bankers and wealth advisers was conducted to gain insights into the mindset of the world’s ultra rich. The respondents, who represent roughly 50,000 ‘ultra high net worth individuals’ (UHNWIs), were asked whether their…