In January, private-sector employment saw a significant rebound, exceeding expectations according to the latest report from the US Labor Department. Companies across the United States added 237,000 jobs last month, marking the most substantial increase since July and well above December’s modest addition of 165,000.
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The recent downturn in the energy sector has propelled financial stocks to the forefront of US equity sectors in terms of one-year total returns, as indicated by a series of proxy ETFs.
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The anticipated risk premium for the Global Market Index (GMI) remained steady for the second consecutive month in January, hitting the highest level seen in over two years. The GMI, which is an unmanaged market-value weighted mixture of the major asset classes, is currently projected to yield an annualized 4.3% over the long term, consistent with previous forecasts (here and here).
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Is the labor market experiencing renewed growth? Today’s January update from the ADP Employment Report lends support to this notion.
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Global markets maintained their upward trajectory in January 2017, building on a positive trend from the previous year. Leading this ascent were emerging-market stocks (MSCI EM), followed by foreign high-yield bonds (Markit Global ex-US High Yield). In contrast, US real estate investment trusts, represented by MSCI US REIT, underperformed last month, remaining unchanged year-to-date.
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Consumer spending trends exhibited a positive outlook during the final month of the Obama administration, leading some analysts to suggest that another interest rate hike may be on the horizon.
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Last week, global markets mostly moved higher, led by emerging market and US stocks, according to a range of exchange-traded products tracking major asset classes. Losses were minimal, with US real estate investment trusts (REITs) suffering the most notable decline.
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● A Man for All Markets: From Las Vegas to Wall Street, How I Beat the Dealer and the Market
By Edward O. Thorp
Summary via publisher (Random House)
The fascinating true account of the mathematics professor who mastered card-counting, showing the world how to outsmart the dealer and leading a revolution in Wall Street’s quantitative investing. Born during the Great Depression, the legendary Edward O. Thorp invented card counting, proving that one could indeed defeat the odds at the blackjack table, thus sparking a gambling renaissance. His extraordinary success and method were so compelling that casinos had to modify their rules to counteract his influence and the many inspired by him.
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The Bureau of Economic Analysis reports that economic activity grew by 1.9% in the fourth quarter of last year, slightly below expectations. This growth trailed the strong 3.5% increase in Q3, raising some concerns; however, a closer examination using year-over-year comparisons reveals that moderate growth remains intact, showing even a slight improvement.
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During its first week in office, the Trump administration has made it clear that trade agreements are under reconsideration. The Trans Pacific Partnership Agreement (TPPA) has already been the first casualty. Trade relations between Mexico and the US appear to be the next area of focus. So far, the US stock market seems unaffected by the surge in anti-trade rhetoric emanating from Washington. However, the potential reversal of decades of free trade policy poses significant risks for the US economy.
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In this rewritten version, I’ve enhanced the readability and flow of the content while maintaining the original structure and links. Each section clearly conveys relevant economic updates, providing a comprehensive overview for readers.
