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Do Headlines Move Markets? Researchers Say Yes, but Stocks Aren t Buying the Story

Order Reprints Text size Speaker of the House Nancy Pelosi and Senate Minority Leader Chuck Schumer. Tasos Katopodis/Getty Images After millions of words, I never expected my life’s work to be reduced to an economic indicator. Yet that’s what it has come to, according to researchers at Australia’s central bank. And you can blame Covid-19 for this, as well. In their quest to gain better and more timely insights into the economy, economists Kim Nguyen and Gianni La Cava of the Reserve Bank of Australia have constructed a “news sentiment index,” or NSI, from articles about the economy in major papers Down Under, Bloomberg reported this past week. They posit that news accounts not only provide a real-time indicator of the economy, but also have some “causal” role (their word, not mine) in shaping sentiment among businesses and consumers.

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The Fed Stays the Course Don t Expect It to End Its Massive Asset Support Anytime Soon

If that sounds ambiguous, you’re right. It “provides the Committee with substantial flexibility to determine the appropriate time to begin tapering at a later date,” observed Goldman Sachs economists in a client note. In other words, the Fed isn’t bound to start reducing its bond buying at a certain date or when its forecasts for inflation and unemployment show those targets being attained in coming months. Back in 2018, the Fed was raising its federal-funds target rate even though inflation was short of its 2% target. Moreover, the central bank kept hiking rates despite clear signs of weakness in interest-rate-sensitive sectors such as housing, says Quincy Krosby, chief market strategist at Prudential Financial.

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Fed Stimulus Has Boosted Household Wealth Here s What That Means for Prospective Home Buyers

Fed Stimulus Has Boosted Household Wealth Here s What That Means for Prospective Home Buyers
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Fed Stimulus Has Boosted Household Wealth Here s How It Has Also Hurt Prospective Home Buyers

Fed Stimulus Has Boosted Household Wealth Here s How It Has Also Hurt Prospective Home Buyers
barrons.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from barrons.com Daily Mail and Mail on Sunday newspapers.

8 Discounted Closed-End Funds That Have Raised Their Payouts This Year

Eduardo Munoz Alvarez/Getty Images Paying more and getting less is just one of the annoying aspects of this misbegotten year, as anyone who’s been to the supermarket or a building supplies outlet can attest. Prices are up, that is, when you can find merchandise. But bargains can be found if you know where to look. One rare exception can be found in a relatively arcane corner of the investment world, closed-end funds, or CEFs, that invest in municipal bonds. Ironically, that reflects one of the few benign effects of the financial market upheavals resulting from the economy’s pandemic plunge earlier this year.

New yorkUnited statesEduardo munoz alvarez gettyRivernorth oneillRandallw forsythStephen oneillFederal reserveStepheno neillRivernorth capital managementHigh yield corporate bondபுதியது யார்க்ஒன்றுபட்டது மாநிலங்களில்எட்வார்டொ முனோஸ் அல்வாரெஸ் கெட்டிஸ்டீபன் ஓனேிழில்கூட்டாட்சியின் இருப்புஉயர் மகசூல் பெருநிறுவன பத்திரம்