This week there was a lot of positive mention from financial services companies. Loan growth is strong, deposits are strong, investment banking is strong, credit card volume is strong, and wealth mgmt and asset mgmt are also strong. All around pretty positive CEO commentary. The only really negative mention came from BLK saying there is a duration gap between retirement savings and needs.
BLK's survey of inst investors is worth a read and basically says investors are seeking alternatives to stocks and bonds given their high correlations of late. BLK says real estate, real assets, and infrastructure debt are the likely beneficiaries of the hunt for diversification.
More companies are mentioning an improvement in Europe. They are still cautious but sounds like things are turning for the better across the pond. Rails, chemicals, big data, and cloud related all still strong. Medical device companies (including robotic machines) are positive on trends. Strength from the oil & gas and ag sectors was mentioned. Auto sector also is getting positive mention. A few companies mentioned FX fluctuations impacting their results.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.