Hints and tips:
...Most urgently, agitatedly depicted is Stella West (“Head of E.O.W”), who modelled for Auerbach three nights a week in her Earl’s Court basement....
...Here is how we respond to points (a) through (e): Excess savings will soon be exhausted....
...To mark the 911’s 60th anniversary, Porsche has created a limited S/T edition of 1,963 cars aimed at purists (from £254,000; for an additional £10,400 you can throw in a 60th anniversary 1-911 S/T chronograph...
...The S&P 500 is expensive no matter how you cut it. But not the humble Russell 2000....
...Forward P/E ratios for the mid-cap S&P 400 (12.6) and small-cap S&P 600 (12) are at levels only seen in the depths of the pandemic and great financial crisis. Sentiment is still terrible....
...Digitally resurrected foes Biggie Smalls and Tupac Shakur make peace in a jointly rapped version of Kanye West and Jay-Z’s “N****s in Paris”....
...Others will look at the chart of cyclically adjusted P/E ratio (that is, the S&P 500 price divided into 10-year average earnings) and point out that it is bang at its average since 1995 (28)....
...Yesterday Jay Powell, chair of the US central bank, indicated the Fed might begin “moderating” the pace of interest rate increases at this month’s meeting....
...The forward-year price/earnings ratio on the S&P 500 has fallen from 27 to 18, which sounds like a lot, but only brings the index down to its pre-pandemic valuation level....
...Look at the environment in which current Fed chair Jay Powell is operating and you might wonder how he can be a Volcker without Volcker’s luck....
...Whatever the US figure, Fed chair Jay Powell made it crystal clear in his comments last week that his team will do what it takes to squeeze inflation out of the economy....
...A nice bump for stocks on Friday after Jay Powell made some boring comments about the Federal Reserve being data-dependent. Markets, parched for good news, lapped it up....
...After rising 3 per cent on Wednesday after Federal Reserve chair Jay Powell indicated that the central bank wasn’t contemplating raising rates by more than 50 basis points at a time, the S&P 500 then tanked...
...Here is chair Jay Powell: Our objective really is to bring inflation down to 2 per cent while the labour market remains strong....
...Referring to, say, Robert Shiller’s cyclically adjusted P/E ratio has been liable to get a person made fun of online....
...Or does Grandmaster Jay (or as Zoltan moots, the People’s Bank of China) need to become a full-on commodity market player?...
...She is due to meet her dancers in the Selfridges basement but it has been a long day and she is hungry and thirsty. After a brief glance at the menu, she orders a burrata and a glass of Moët....
...Choppy markets again yesterday, amid lots of talk about the great hawk Jay Powell....
...The trend for central bank digital currencies (CBDC) looks likely to spread further, with Jay Powell saying on Thursday that the Federal Reserve would issue a discussion paper on the topic over the summer...
...They worked out of Johnston’s dorm room and the basement in Folger’s parents’ house....
...Ultimately, the S&P 500 closed near its high for the session while 10-year Treasury yields are stalking their March closing low of 0.54 per cent....
...The yield on the 10-year US Treasury, which moves inversely to its price, rose 0.039 percentage points to 0.685 per cent....
...The concerns expressed by Mr Clayton over combining E, S and G scores have previously been described as “aggregate confusion” by academics. One example of this is the electric car maker Tesla....
...Moreover, the nature of “E” is shifting....
...All told, it is little wonder Wall Street is not yet rushing back to a US E&P sector struggling with existential doubts....
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