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BACKING BUYBACKS

Edward Luce’s recent front page piece in the FT (The short-sighted US buyback boom) pretty well echoes the recent bashing against buybacks and villain executives and directors. (…) At a time of soaring profitability, US companies have piled up huge amounts of

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U.S. FLASH MANUFACTURING AT BOOMING LEVEL

At 57.9 in September, the seasonally adjusted Markit Flash U.S. Manufacturing Purchasing Managers’ Index™ (PMI™) remained well above the neutral 50.0 value, to indicate a robust improvement in overall operating conditions across the manufacturing sector. Moreover, the headline Manufacturing PMI index held

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EUROZONE FLASH PMI SIGNALS SLOWDOWN

Euro area business activity grew in September at the lowest rate seen so far this year, according to the preliminary ‘flash’ PMI survey data. At 52.3, down from 52.5 in August, the Markit Eurozone PMI™ Composite Output Index fell for a second

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NO MORE BEARS! THE BARE FACTS

It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so. (Mark Twain) Lance Roberts recently pondered in Bear-ly” Extant that The extraordinarily low level of “bearish” outlooks combined with extreme levels

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CAPE IMPROVED?

Much, much has been written lately about CAPE and whether or not it can be useful. Back in 2009-10, bears were using it to demonstrate the folly of getting back into equities. Today, because CAPE remains in dangerously high territory, bulls are

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CHINA COMPOSITE PMI UP ON STRONGER SERVICES

HSBC China Composite PMI™ data (which covers both manufacturing and services) signalled a fourth successive monthly increase of Chinese business activity during August. The HSBC Composite Output Index posted at 52.8, up from 51.6 in July, and signalled a robust rise in

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U.S. MANUFACTURING PMIs RISE ON STRONG ORDERS

U.S. manufacturers indicated a strong improvement in overall business conditions during August, driven by faster rises in output, new orders and payroll numbers. The latest survey also signalled a boost to production schedules from greater export sales, with new work from abroad

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AMAZON’S TWITCH

I don’t post on specific stocks very often but today I offer a guest post from Leah Grace Capitan who blogs on technology, retailing and fashion at Quiddity. Leah’s piece on Amazon’s acquisition of Twitch is thoughtful and provocative on this beloved

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U.S. SERVICES PMI AT 61.0 IN JUNE

The performance of the U.S. service sector picked up again in June, with output, new business and employment all rising at the fastest rates since the survey began almost five years ago. Survey respondents suggested that business activity was buoyed by improving

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U.S. FLASH MANUFACTURING PMI ACCELERATES

Strong output growth, strong new orders, strong and rising backlogs and tight inventories of finished goods: manufacturing is booming! Delivery times are lengthening. Rising prices ahead? June data pointed to a robust and accelerated improvement in the performance of the U.S. manufacturing

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