GAAP accounting measures show earnings growth is accelerating. But hold the cheers, the growth is an accounting mirage. Earnings after taxes and invested capital are actually on the decline.
Informa chief macro strategist David Ader says the unknowns of Trump’s budget-busting tax plan and muddled economic picture mean little conviction in the bond market.
With Trump’s tax proposal kicking the U.S. reflation story back into gear, industry and financial sector funds took in fresh money this past week. Gold funds posted their biggest weekly outflow since the beginning of the year.