{"id":3463,"date":"2019-09-15T07:52:26","date_gmt":"2019-09-15T11:52:26","guid":{"rendered":"https:\/\/envisionco.net\/?p=3463"},"modified":"2019-09-15T07:52:26","modified_gmt":"2019-09-15T11:52:26","slug":"week-ending-9-13-2019","status":"publish","type":"post","link":"https:\/\/envisionco.net\/?p=3463","title":{"rendered":"Week Ending 9\/13\/2019"},"content":{"rendered":"<p><strong>MARKET RECAP<\/strong><\/p>\n<p>Stocks were up for the third straight week as recession fears faded slightly and the chances for a trade deal supposedly improved. How many times have we heard that before? Trump delayed tariffs on some items and China did the same on pork and soybeans. The S&amp;P 500 increased by 1%.<\/p>\n<p>A strong consumer spending report for August showed that the threat of a looming recession might be overstated. Retail sales were up by 0.4% which was better than expected. Yields exploded higher, the 10-year increased to 1.901% on Thursday, up by 34 basis points, the biggest rise since June of 2013. The gap between the 3-month treasury bill and the 10-year bond significantly narrowed and is now inverted by only by .061 percentage point compared to 0.41% one week ago.<\/p>\n<p>There was a shift in factor sentiment, as investors jumped into value and out of momentum. MTUM, the IShares Momentum Factor ETF fell by 2.35% while VLUE, the IShares Value Factor ETF increased by 4.02%.<\/p>\n<p>If you are wondering how the economy can maintain its pace of slow growth in the face of an ever-increasing trade war, one reason would be the fiscal stimulus provided by a budget deficit that now exceeds $1 trillion dollars for the first 11-months of the year (4.4% of GDP). That is the first time the deficit has exceeded $1 trillion since 2012. It is possible that a surplus in September pulls the number lower, but the point is the deficit is exploding at a time when it should be declining.<\/p>\n<p>Closing out his tenure as the ECB president, Mario Draghi announced a rate cut and the restart of quantitative easing.<\/p>\n<p><strong>SCOREBOARD<\/strong><\/p>\n<p>No scoreboard this week due to a software issue. It will be posted next week as normal. Sorry!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MARKET RECAP Stocks were up for the third straight week as recession fears faded slightly and the chances for a trade deal supposedly improved. How many times have we heard that before? Trump delayed tariffs on some items and China &hellip; <a href=\"https:\/\/envisionco.net\/?p=3463\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1893,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3463","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/envisionco.net\/index.php?rest_route=\/wp\/v2\/posts\/3463","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/envisionco.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/envisionco.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/envisionco.net\/index.php?rest_route=\/wp\/v2\/users\/1893"}],"replies":[{"embeddable":true,"href":"https:\/\/envisionco.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3463"}],"version-history":[{"count":3,"href":"https:\/\/envisionco.net\/index.php?rest_route=\/wp\/v2\/posts\/3463\/revisions"}],"predecessor-version":[{"id":3467,"href":"https:\/\/envisionco.net\/index.php?rest_route=\/wp\/v2\/posts\/3463\/revisions\/3467"}],"wp:attachment":[{"href":"https:\/\/envisionco.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3463"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/envisionco.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3463"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/envisionco.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3463"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}