Wednesday, February 14, 2018

Today's Headlines

  • Euro-Area Economy Keeps Cruising Speed as Outlook Improves. The euro-area economy maintained its robust growth pace at the end of last year, setting the stage for another solid performance in 2018 that may sway European Central Bank policy makers into winding down unprecedented stimulus.
  • Tech Stocks, Leading Market Bounce, Just Made Up Half Their Loss. It’s too early to sound the all clear after the worst equity selloff in two years. But if you take a look at tech stocks, things are heading in the right direction. Not only is the biggest industry in the U.S. market is leading the four-day bounce from the bottom. The S&P 500 Information Technology index also just passed 1,131, marking a 50 percent retracement of the slump from Jan. 26 to Feb. 8, using intraday extremes. That’s bullish for chart watchers.
  • Shorts in SPDR Junk Bond ETF Surge to Highest Level Since 2010. Short interest as a percentage of shares outstanding on the SPDR Bloomberg Barclays High Yield Bond ETF, ticker JNK, surged to more than 30 percent Wednesday, according to data from IHS Markit Ltd. That’s about a threefold increase from January and the largest short position in the fund since 2010.
Wall Street Journal:
Zero Hedge:

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