FMA|Perspectives Narratives to Watch
Sometimes the headlines reinforce the broad market narrative that strategists are following. Sometimes they don’t. Either way, we think it’s important for strategists to stay on top of the headline news feeds of the day. This is because those news items that seem unimportant today could become tomorrow’s market narrative as persistence, intensity and potential impact of a news item influence market sentiment.
FMA|Perspectives Curated Headlines
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Fund managers have not joined race into cheap, value stocks: BAML survey
on September 17, 2019 at 9:30 am
Fund managers have not piled into so-called value stocks, which have been shunned during the decade-long technology-led boom, even as shares in beaten-down companies have rallied over the past week,...
With a backup to the backup, insulin makers say they're primed for Brexit
on September 17, 2019 at 7:29 am
For two men trained as scientists, the bosses of Britain's major insulin providers have had to become experts in ferry schedules, trucking laws and warehouse capacity as they seek to guarantee the supply of life-saving drugs through a chaotic Brexit.
Factbox: Britain's insulin providers prepare for Brexit fallout
on September 17, 2019 at 7:08 am
With Britain sourcing the vast majority of the insulin needed by its 1 million diabetics from overseas, its biggest providers have had to restructure their supply chains in case a chaotic Brexit disrupts the normal arteries of trade.
Divided Fed set to cut interest rates this week, but then what?
on September 17, 2019 at 6:56 am
Deep disagreements within the Federal Reserve over the economic outlook and how the U.S. central bank should respond will not stop policymakers from cutting interest rates at a two-day meeting that begins on Tuesday.
Trump says he does not want war after attack on Saudi oil facilities
on September 17, 2019 at 6:48 am
U.S. President Donald Trump said on Monday said it looked like Iran was behind attacks on oil plants in Saudi Arabia but stressed he did not want to go to war, as the attacks sent oil prices soaring and raised fears of a new Middle East conflict.
Saudi energy minister to hold press conference on Tuesday
on September 17, 2019 at 6:47 am
Saudi Arabia's energy minister Prince Abdulaziz bin Salman will hold a press conference on Tuesday following the attacks on Aramco facilities in Abqaiq and Khurais which have cut the company's crude oil supply by about 50 percent, the media ministry said.
Oil declines as market assesses attacks on Saudi facilities
on September 17, 2019 at 6:44 am
Oil dropped on Tuesday although the market remains on tenterhooks over the threat of a military response to attacks on Saudi Arabian crude oil facilities that cut the kingdom's output in half and sent prices soaring by the most in decades.
Trump says U.S. reaches trade deals with Japan, no word on cars
on September 17, 2019 at 5:59 am
U.S. President Donald Trump said on Monday Washington had struck trade agreements with Tokyo that could be implemented without congressional approval, but stopped short of assuring Japan that new tariffs would not be slapped on vital auto exports.
Explainer: Details on car tariffs fuzzy as U.S., Japan head for trade deal
on September 17, 2019 at 5:57 am
U.S. President Donald Trump has said Washington and Tokyo have reached an initial trade deal that he and Japanese Prime Minister Shinzo Abe are expected to sign in New York later this month.
UAE official: Saudi Aramco attacks are a dangerous escalation
on September 17, 2019 at 5:49 am
Attacks on oil plants in Saudi Arabia are a dangerous escalation and the international community should stand by Riyadh and ensure regional stability, a senior United Arab Emirates official said on Tuesday.
Japan's Abe says he will meet Iran's Rouhani this month in New York: NHK
on September 17, 2019 at 5:48 am
Japanese Prime Minister Shinzo Abe said on Tuesday he would meet with Iranian President Hassan Rouhani at the end of the month, as regional tensions rise in the Middle East after the weekend attacks on Saudi oil facilities, public broadcaster NHK said.
Oil trims gains, but Middle East risks keep stocks on back foot
on September 17, 2019 at 5:40 am
Oil shed some of its massive gains on Tuesday as the United States flagged the possible release of crude reserves, but the threat of military action over the attacks on Saudi oil facilities kept prices elevated and stocks under pressure.
FAA chief to meet with Boeing officials, test 737 MAX simulator
on September 17, 2019 at 5:34 am
New Federal Aviation Administration (FAA) chief Stephen Dickson plans to fly to Seattle this week to fly "newly configured" Boeing 737 MAX software in a simulator and will visit with Boeing officials, the agency said Monday.
International panel to criticize U.S. FAA's Boeing 737 MAX approval process: WSJ
on September 17, 2019 at 5:34 am
A panel of international air-safety regulators is finishing a report, which is expected to criticize the initial U.S. approval process for Boeing Co's 737 MAX jets, the Wall Street Journal reported, citing people briefed on the conclusions.
U.S. value fund managers betting shift to value stocks won't last
on September 17, 2019 at 5:09 am
The massive U.S. market rotation into value stocks over the last two weeks is finally giving value fund managers a reason to be hopeful after years of underperformance.
LG Display seeks job cuts amid mounting financial losses
on September 17, 2019 at 4:06 am
South Korea's LG Display Co Ltd on Tuesday announced a voluntary redundancy program for its domestic production line employees amid mounting financial losses.
WeWork parent says IPO still on despite setbacks
on September 17, 2019 at 3:43 am
WeWork owner The We Company said on Monday it expected to complete its initial public offering (IPO) by the end of the year, after walking away from preparations earlier in the day to proceed with its stock market debut this month.
Currency provision won't be in Japan-U.S. trade deal: Aso
on September 17, 2019 at 3:37 am
Japanese finance minister Taro Aso said on Tuesday that a currency provision won't be included in a Japan-U.S. bilateral trade deal that the two countries are aiming to conclude by the end of this month.
Japan seeks to confirm no additional tariffs on auto exports to U.S.: Motegi
on September 17, 2019 at 3:37 am
Japan plans to reconfirm in the final stage of trade talks with the United States that Washington will not impose additional tariffs on Japanese vehicles and auto parts, Foreign Minister Toshimitsu Motegi said on Tuesday.
OxyContin maker Purdue Pharma files for bankruptcy protection
on September 17, 2019 at 2:54 am
OxyContin maker Purdue Pharma LP filed for bankruptcy protection Sunday night, succumbing to pressure from more than 2,600 lawsuits alleging the company helped fuel the deadly U.S. opioid epidemic.
What's next for OxyContin maker Purdue Pharma
on September 17, 2019 at 2:54 am
OxyContin maker Purdue Pharma LP filed for bankruptcy protection after reaching a partial deal to resolve more than 2,600 lawsuits alleging it helped fuel the U.S. opioid crisis.
U.S., Chinese trade deputy talks to start on Thursday: USTR
on September 17, 2019 at 2:13 am
Deputy-level U.S.-China trade talks are scheduled to start in Washington on Thursday, the U.S. Trade Representative's office said on Monday, paving the way for high-level talks in October aimed at resolving a bitter, 14-month trade war.
Prudential subsidiaries to pay nearly $33 million to settle disclosure charges: SEC
on September 16, 2019 at 9:33 pm
Two Prudential subsidiaries have agreed to pay nearly $33 million to settle charges they failed to disclose conflicts of interest and made misleading disclosures regarding 94 insurance-dedicated...
Morgan Stanley retains billing as top adviser in activist fights: Refinitiv data
on September 16, 2019 at 5:43 pm
Morgan Stanley ranked as the top financial adviser in activist campaigns during the first six months of 2019 while Goldman Sachs and Spotlight Advisors each added clients and tied for second place,...
Investing green is all the rage, but benchmarks still hazy
on September 13, 2019 at 7:00 am
Global money managers and companies are rushing to meet a deadline to report on their carbon footprint, but the lack of a standard metric raises concerns their efforts could just be a box-ticking...
Billionaire investor Carl Icahn to leave New York for Florida
on September 13, 2019 at 3:53 am
Billionaire investor Carl Icahn, a born New Yorker who has run his business from the city for decades, is moving his office, more than half of his staff and himself to Florida early next year, people...
Climate change pushes U.S. fund managers to bet on AC makers
on September 12, 2019 at 9:20 pm
Record heatwaves in Europe and Asia this summer are leading fund managers to buy shares of air conditioning manufacturers, betting that the public health risks of rising temperatures will compel...
Woodford listed fund says administrator to cut valuation in another of its holdings
on September 12, 2019 at 6:35 pm
Woodford Patient Capital Trust, the listed trust run by under-fire money manager Neil Woodford, said its administrator Link Fund Solutions would cut the valuation of its stake in another of the...
Blackstone raises $20.5 billion for largest ever real estate fund
on September 12, 2019 at 12:12 am
U.S. private equity firm Blackstone Group Inc said on Wednesday it has raised the largest ever real estate fund, amassing $20.5 billion to be invested in property assets around the world.
Words of Wisdom: Life Lessons with Salman Rushdie
on September 9, 2019 at 4:12 pm
Magic realism is a literary genre in which narrative is shot through with surreal, dreamlike, seemingly impossible moments.