Weekly Highlights From Earnings Releases
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.
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