Quote of the Day: Japan's Fiscal Largesse

In yesterday's technical market update, subtitled "Why We "Technically" Like Japan Right Here" I suggested that we'll likely see increased fiscal activity in Japan going forward.

Here, coincidentally, is BCA Research making that point today:

Morning Note: The Mind Boggliness (and policy implications) of Current Household Net Worth -- Or -- Simply Can't Have the Porridge Hot!

This morning's job numbers did not disappoint!

Technical Market Update: US Equities, Breadth, and Why We "Technically" Like Japan Right Here (video)

Once playing, click the icon in the lower right corner for full screen. Focus should occur after a few seconds; if not, click the wheel to the left of the YouTube icon to adjust:

 

Attention Non-Client subscribers: Nothing in this video should be construed as investment advice. The examples expressed relate to portfolio management we perform on behalf of our clients, and, again, under no circumstances are they to be considered recommendations to the viewer.

Morning Note: That "Forward Guidance" Tool

In a technical look at the market video I shot yesterday morning (sending the finished product to you shortly), I mentioned the bullish seasonality that takes us to the end of the year, then intimated that the calendar turn may usher in a more difficult period for stocks.

Morning Note: What About the Roots? -- And -- Expect Syrup

So, we've been hearing, seems like day after day, that the stock market -- i.e., the Dow or the S&P 500, or both -- keeps hitting new all time highs. Client after client during our review meetings mention it, with most (our clients are by and large a "mature" bunch) following with a concerning "something's gotta give", or words to that effect...

Morning Note: Manufacturers Challenged, Yet Upbeat

A few key highlights from the ISM's October Purchasing Managers Survey:

“Business Survey Committee panelists reported that their companies and suppliers continue to deal with an unprecedented number of hurdles to meet increasing demand. All segments of the manufacturing economy are impacted by record-long raw materials lead times, continued shortages of critical materials, rising commodities prices and difficulties in transporting products.

Morning Note: Really Liking This Chart! -- And a Must-Read Quote

Japan, whose equities occupy ~60% of our developed Asia-Pac exposure -- and who presently represents the top foreign country weighting in our core portfolio -- saw election results yesterday that preserved an outright majority for its recently minted Prime Minister Fumio Kishida. Consequently, the country's stocks rallied 2.61% overnight.