Markets News 

Winter meetings seldom fail on delivering a baseball circus

“Through the years, baseball general managers rarely fail to stage a show full of big-money signings and big-name trades” writes Larry Stone for seattletimes.com. Everything was eventually worked out and the Bonds’ signing was announced, but the outlay of cash on free agents during those winter meetings — teams spent $228 million in five days to sign 35 players — so alarmed baseball officials that they essentially canceled the winter meetings for six years. Source: seattletimes.com Share This:

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Markets News 

Tax plan could mean more homelessness

“Housing Bonds enable state governments to provide bond financing and Low Income Housing Tax Credits (Housing Credits) to nonprofit and private developers for housing that might otherwise be impossible to finance” writes Laura Mascuch for washingtonexaminer.com. Congress must make sure any final tax bill does not make homelessness even worse. Source: washingtonexaminer.com Share This:

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Markets News Stocks 

No, bonds aren’t signaling economic trouble ahead. Here’s why

“Second, bond yields also might simply be saying consumer inflation is low and is likely to remain so” writes John Zich for cnbc.com. But it’s at least some comfort to those hearing shrill warnings about what bonds are supposedly telling us.First, demand for U.S. Treasury paper is persistently strong in a world suffering a relative shortage of safe yield. Source: cnbc.com Share This:

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Markets News Stocks 

Fear of missing out keeps investors in stocks despite risks…

“If the tax bill fails, Orlando said he expected the S&P 500 to fall by as much as 10 percent” writes Min Read for reuters.com. NEW YORK, (Reuters) – Wall Street’s fear of missing out on a relentless rally appears to be trumping rising political risk in a high-stakes December in Washington.Yet with the benchmark S&P 500 up nearly 18 percent for the year to date, some portfolio managers see a greater risk in stepping to the sidelines. Source: reuters.com Share This:

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Markets News 

Global market cap is about to hit $100 trillion and Goldman Sachs thinks the only way is down

“It is, technically, the market cap of Planet Earth, and everyone who sees it does a double take” writes Finanzen Net Gmbh for businessinsider.com. I included this chart of total equity market cap in [a previous note to clients] in early June this year.The average valuation percentile across equity, bonds and credit in the US is 90%, an all-time high.While equities and credit were more expensive in the Tech Bubble, bonds were comparably attractive at the time. Source: businessinsider.com Share This:

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Markets News 

Alibaba prices 5-tranche $7 billion dollar bond amid strong demand

“The bonds priced were $700 million 2.800 percent bonds due 2023, $2.55 billion 3.400 percent bonds due 2027, $1 billion 4.000 percent bonds due 2037, $1.75 billion 4.200 percent bonds due 2047 and $1 billion 4.400 percent bonds due 2057” reports businessinsider.sg. HONG KONG – Chinese internet giant Alibaba Group Holding Ltd has priced a $7 billion (5.22 billion pounds) multi-tranche bond issue after a blowout response allowed the borrower to tighten pricing across all maturities, according to a term sheet seen by Reuters. Morgan Stanley, Citigroup, Credit Suisse, Goldman…

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GBP Markets News 

British bonds sell off amid reports of deal on Brexit divorce bill

“British government bonds, or gilts, came under selling pressure on Wednesday after reports that the U.K. agreed to a settlement bill, taking away one of the main roadblocks to a Brexit divorce deal” writes Sunny Oh for marketwatch.com. The pound GBPUSD, +0.7047% climbed 0.6% against the dollar this week, rising close to a two-month high of $1.3413. Source: marketwatch.com Share This:

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House tax bill is causing uncertainty in L.A.’s homeless housing program

“Los Angeles homeless advocates are raising alarms over a provision of the House tax bill that they say would deal a crippling blow to plans to add 1,000 new housing units annually” writes Doug Smith for latimes.com. The tax-free bonds also help lower costs for affordable housing.Matt Schwartz, president and chief executive of the California Housing Partnership, estimated that 20,000 units of affordable housing annually are at risk in the state.If there are no tax-free bonds, the tax credits would also be out of reach. Source: latimes.com Share This:

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Markets News Stocks 

Think it’s time to protect your stock-market gains?Consider these 4 options

“Whether cash, long-term Treasury bonds, gold or derivatives, each offers the potential to protect against the ravages of the next bear market” writes Brett Arends for marketwatch.com. Potentially the best way to protect against a market slump is to buy insurance in the form of “put” options on a broad market index like the S&P 500.Some very long-term Treasury bonds doubled in value or better during the 2008 financial crisis.Long-term Treasury bonds have typically offered a more dynamic form of protection.With the S&P 500 trading around 2600 right now, put…

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