Perhaps one of the most important questions investors need to answer today is whether we’ve seen the low in the long bonds yields or whether the trend lower is firmly intact.
While we recognize that the negative year-over-year change in the US CPI may soon reverse given gas prices have risen by nearly 30 cents, we wanted to highlight how rare a negative year-over-year print is in the US.
The heatlhcare sector has been the leadership group over the last five years in all geographies of the MSCI World Index. The most well known industries within the healthcare sector are the biotech and pharmaceutical industry.
Unsurprisingly, the cost of insurance against Greek default (as evidenced by 10-year credit default swaps) has risen since the beginning of the year.
After starting the year off with a bang (thanks to refinancing activity), US mortgage applications are tumbling back towards the depressed 2014 levels. Mortgage apps fell for the third straight week even as the purchase index rose for the first time in seven weeks.
It’s gone somewhat under the radar that the MSCI World Index is now sitting at a new all-time high. That is usually a good sign for the market, especially when accompanied by improving market breadth.