U.S. equities got off to a rocky start this week, as markets continued to struggle to find a definitive direction in the New Year. On the economic front, the ISM Non-Manufacturing Purchasing Managers Index for December slipped to 53 from 53.9. Elsewhere, the U.S. trade deficit narrowed to $34.25 billion, versus the expected $40 billion. The ADP private sector jobs report also came in better than expected, showing job growth increasing to 238,000 in December. In other labor news, initial jobless claims fell to their lowest level in more than a month [see The Fed Effect: How Monetary Policy Impacts Your ETFs].
Below, we highlight seven insightful articles circulating around the financial space this week:
- The risk of catastrophic success (Cam Hui)
- Bond ETFs evolve for the better (Roger Nusbaum)
- Bill Gross’s investment outlook: seesaw rider (PIMCO)
- The story of GEICO, Graham and Buffett (Base Hit Investing)
- Infographic: Janet Yellen’s career ladder (Quartz)
- The surprises of 2014 (Blackstone)
- What keeps Goldman up at night (Zero Hedge)
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Disclosure: No positions at time of writing.