Bonds

5i Stock Screener: Reliable companies for shareholders during a crisis

Shareholder yield is a great way to measure how well companies give back to shareholders and is the sum of both dividend and buyback yield. Companies that repurchase shares in addition to paying a stable dividend also give a few positive signals, particularly during these tough times. ...

Economic / Markets Fundamentals

My primary liquidity indicators are strongly positive. This suggests that economic recovery isnot far off in time and it is supportive of the stock market. Based upon accelerating monetaryliquidity, a degree of economic recovery should begin before summer 2020 is over.Presently, the US economy is st ...

Oil Prices Went Where?

By Adam A. Rozencwajg, CFA, Managing Partner, Geohring & Rozencwajg Oil prices joined bond yields in doing the unthinkable: trading at negative levels. In the case of oil, the West Texas Intermediate (WTI) May 2020 contract reached a low of -$40.32 at 2:24 pm before rallying back to finish the day ...

Model Risk Management as Algo Trading Expands

The FICC Market Standards Board Ltd. (FMSB) is a London-based standards body for participants in the wholesale fixed income, currencies, and commodities (FICC) markets. It has been looking into the root causes of market misconduct, and pursuant to that research it recently published a report on the ...

IMCO's Big Stake in Apollo's New Fund

Christine Idzelis of Institutional Investor reports that Apollo took just two months to raise a credit fund that seeks to profit from tumultuous markets — and it got a swift and significant contribution from Canadian pension manager IMCO:When Apollo Global Management approached the Investment Man ...

Top Funds' Activity in Q1 2020

Jason Orestes of The Street reports Amazon is clearly what hedge funds are betting on these days:Amazon has been a major beneficiary of the Covid-19 chaos, and hedge funds have taken notice.The fastest bear market in history saw a 30% plummet followed by a rapid 30% rebound. But there has been a l ...

US Public Pensions Less Than 60% Funded?

Steffan Navedo-Perez of Chief Investment Officer reports that Goldman Sachs estimates public pensions are now less than 60% funded on average: Average funding ratios for public pension funds have declined to 60% and below, down from 74% before the crisis, according to Goldman Sachs Senior Pension ...

CPPIB Gains 3.1% in Fiscal 2020

Pete Evans of CBC News reports CPP adds $17 billion to assets now worth more than $409 billion despite the pandemic:The Canada Pension Plan earned a return of 3.1 per cent after expenses during the financial year ended March 31, the board that manages the fund's money reported Tuesday.Net assets fo ...

Can Money Printing Trump a Depression?

Fred Imbert of CNBC reports stocks extend losses ahead of Trump China news conference:The S&P 500 rose slightly on Friday, erasing losses earlier in the session, as traders breathed a sigh of relief after President Donald Trump signaled no changes to the trade deal with China despite rising ten ...

AIMCo's All Too Familiar Vol Blowup?

Brett Friedman, Managing Partner at Winhall Risk Analytics, sent me a guest comment titled, AIMCo, Allianz, and Malachite Capital: All Too Familiar:As Warren Buffet once said, “Only when the tide goes out do you discover who’s been swimming naked.” The Alberta Investment Management Company ( ...