Apparently U.S. consumers would rather keep their cell phones than their automobiles. Consumers who are struggling financially are prioritizing payments on their latest iPhone instead of their automobiles. Bloomberg has more below and the full story here. U.S. consumers are more devoted to their mobile phones than their automobiles. The sea change has taken place over the last few years as mobile devices become an integral tool not just for communication with loved ones or employers, but also everything from banking to dating to watching TV and listening to music. As cars grow … [Read more...]
Old Industries Reinvented with Ad-Tech
At their fundamental level, Google and Facebook are engines for serving ads to users. The technology they develop is being used by older companies as a gateway to marketing in the 21st century. Ford discussed its use of Facebook and Google tools for advertising with John Stoll of The Wall Street Journal. In a Q&A with Stoll, here's how Ford's president of global markets, Jim Farley, explained the automaker's use of the new advertising tools. WSJ: How do you change the way you sell in a business that is more than 100 years old? MR. FARLEY: Digital advertising. And talking to people. We … [Read more...]
Did China Just Outmaneuver Trump on Trade?
The Trump administration has decided not to impose $150 billion in tariffs on China. According to the FT, the Trump administration caved on its demands for China to stop subsidizing favored industries and engaging in other troublesome behavior so long as China buys more American goods. This is a rather disappointing end to the tough-on-China trade policy. The U.S. says it will consider putting tariffs back on the table if China doesn’t live up to its commitments. But who is kidding who here? It would seem China has outmaneuvered Trump. Trump’s presidency ends in two years, or six years if … [Read more...]
Kroger Gunning for Amazon
Kroger announced a deal with UK based online-grocer Ocado to build 20 customer fulfillment centers. Grocery stores remain largely a brick and mortar business in the U.S. with online sales only accounting for 1.5% of the total U.S. grocery market. But even if online grocery sales never surpass 10%, it still means a more than 6 fold increase in sales. The FT has more. But Americans are warming to grocery delivery. Walmart, the largest US grocer, reported a 33 per cent rise in online sales in its first quarter and said it was on track for a 40 per cent increase in the full year. Rodney … [Read more...]
Are the Good Times over for Card Lenders?
For years credit card lenders have been reaping profits, but rising losses and consumers who demand more rewards for their business have lenders on their heels. AnnaMaria Andriotis writes: “The easy money has been made in card lending,” said Don Fandetti, consumer finance analyst at Wells Fargo & Co. While cards remain highly lucrative for banks, the benefits of a rising interest-rate environment have been muted lately. The added revenue of cardholders paying more in interest payments each month has also been offset by growing competition from lenders trying to poach card customers by … [Read more...]
Are REITS a buy?
REITs have had a tough go of it over the last five years. The Vanguard Real Estate ETF is up only 21% over the last five years compared to an 81% gain in the S&P 500. On a price-only basis REITs have fallen in price over the last five years. Rising interest rates, shifting secular trends within select REIT sectors, and premium valuations have all contributed to the Vanguard Real Estate ETF’s middling performance, but as the WSJ writes here, some investors are now giving REITs a closer look. “The tide is turning very slowly. It’s not going to be a sea change,” said Jonathan Woloshin, head … [Read more...]
The Chinese are Coming
MSCI unveiled a list of 234 Chinese A-share stocks that will be added to its emerging markets index. The MSCI Emerging Markets index is used as a benchmark for over $1.5 trillion in assets. MSCI had proposed adding A-shares to the Emerging Markets index three times since 2013, but was rebuffed by stakeholders — primarily large asset managers — concerned about their ability to move money more freely in and out of the country. The turning point came with the growth of the stock connect programme, which was created in 2014 but has expanded rapidly over the past few years. The dual trading … [Read more...]
Is Deutsche Bank a Big Short?
Steve Eisman, whose prediction of the 2008 subprime mortgage collapse was subsequently immortalized in book and film as "The Big Short," is telling investors they should short Deutsche Bank shares. Deutsche Bank is one of Europe's top five largest banks by assets. Mr. Eisman calls Deutsche Bank a "problem bank," and says it needs to shrink. Bloomberg's Peter Vercoe and Yvonne Man report: “Deutsche Bank is a problem bank,” Eisman said in a Bloomberg Television interview in Hong Kong. The German lender has “profitability issues,” and will probably have to raise capital next year, he said, … [Read more...]
HBO Declares War on Netflix
After quickly expanding to become the world's largest subscription based video streaming service, (excluding China) Netflix has faced little in the way of competition. Amazon's Prime video offering has come closest so far, but the company doesn't generate the large volumes of new content Netflix does. But now, HBO, a premium content company has declared war on Netflix's global prowess. To increase its audience around the world, HBO is creating more homegrown series in its foreign markets. These shows, at times, surpass even its flagship properties Game of Thrones and Westworld for … [Read more...]
Can Technology Save the Bond Market?
Regulations have been slowly destroying the bond market in America. But, new algorithmic trading computers are stepping in to modernize the market. Bond trading desks are relying more on computer driven trading all the time. The FT reports: While debt issuance has surged, traders say liquidity has deteriorated sharply in recent years, as a torrent of regulations forced banks to reduce their trading desks. Putting precise numbers around this decline is tricky, as liquidity is an ephemeral concept. Asking a dozen traders will typically yield at least as many answers. But broadly speaking, … [Read more...]
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