Breakfast with Benjamin: Fed shrugs off market selloff and sticks to taper plans
Breakfast with Benjamin: Janet Yellen's Fed is sticking with tapering but more econ data today could change the conversation. Plus: Stocks are down big so is it the overdue correction? And Japanese stocks fell 4% overnight, the case for index funds, BofA rate traders see smaller bonuses, and tracking short sales.
- Market selloff or not, Fed’s taper plans will not be derailed. We’ll see what they’re saying after this morning’s factory orders report and the CBO’s economic outlook. Dow is now down 7% from its recent high
- Look out below. Japanese stocks fell more than 4% overnight, which should be a good indication of a rocky day ahead for U.S. markets. But after yesterday’s big drop, the futures are up. Some analysts say this kind of pullback is long overdue
- Survivorship bias: Another case for index mutual funds because funds with lousy records get shut down. Taking a closer look at passive funds
- Bank of America interest-rate traders see bonuses cut by 15% as revenues fall at the second-largest U.S. lender. Meanwhile, salaries rise for some managing directors
- Tracking short-sale activity can be a good indicator of when a stock price might start rebounding. Short ratio
Learn more about reprints and licensing for this article.
