Daily Archives: Dec 7, 2018 at 09:45 am EST

Low Volatility Stocks Take The Lead In 2018’s US Factor Race

The latest bout of turbulence in the stock market has reshuffled leadership for US equity factor strategies, leaving the low-volatility strategy as this year’s front runner, based on a set of ETFs. Growth and momentum are still posting gains this year, but they’re now trailing, slightly, low vol. One thing that hasn’t changed: value stocks remain in the hole on a year-to-date basis, based on trading for 2018 through yesterday’s close (Dec. 6).
Continue reading

Macro Briefing: 7 December 2018

Trump to name State Dept spokeswoman as UN Ambassador: The Hill
Congress OKs short-term spending bill to avert gov’t shutdown: Reuters
Fed Chair Powell says US labor market ‘very strong’: Bloomberg
ISM Non-Mfg Index in Nov near highest print in 13 years: MW
By contrast, US Services PMI for Nov reflects relatively slow growth: IHS Markit
Factory orders fell in Oct — biggest monthly slide in more than a year: Reuters
US productivity grew 2.3% in Q3, slower vs. Q2: Fox
US jobless claims fell last week, but remain near 5-month high: MW
Trade deficit for US increased to a 10-year high in Oct: CNBC
US private employment growth slowed in Nov to +179k: ADP
US job cuts fell in Nov vs. Oct, but annual change is up over 50%: CG&C
PMI: Global economic growth edged up in Nov, reaching 3-mo high: IHS Markit