Jack Ablin
Jack Ablin
bank both business deal expanding fine fit ideal shift york
This deal makes sense for both companies. Bank of New York has been expanding in the custodial business and doing a fine job. This shift out of distribution is an ideal fit for J.P. Morgan.
consumer credit deal favorable huge
For the fee-based deal business, it's still a favorable environment. But they also have a huge consumer credit exposure.
asset bottom deal finding increasing line paying portion trading
They're going to get a deal done, but they may end up paying a premium. These firms are finding an increasing portion of their bottom line attributed to trading and asset management.
certainly economic footing solid
We're certainly on solid footing on an economic front.
argue backward bit coming economy enthusiasm eventually evidence face maybe news slap today ugly woods
We have some very ugly numbers. You can argue that the ISM is still backward looking, and maybe even the jobless claims, but eventually we're going to need some evidence that the economy is improving. We had a lot of enthusiasm coming from earnings, but the news today is a little bit of a slap in the face that we're not out of the woods yet.
backdrop creating fed four interest last low played
Over the last four years the Fed has played the part of a surrealistic painter, creating a dreamy backdrop with generously low interest rates.
base fear form maybe rally
Maybe now there's enough fear out there to form a base to rally again.
chief corporate growth low strong
When you have strong growth and low wages, the chief beneficiary is corporate America.
leading names phenomenal seen stocks
We've come off a phenomenal July. And we've seen a real reversal in the stocks that were leading the market, with economically-sensitive names doing well.
growth job mark number previous projected strong
The projected job growth number would mark a pretty strong snapback from the previous month.
digging factory found orders report traders weakness
Traders found some weakness in the factory orders in the ISM report after digging around.
avoid economic fed front growth looking negatives period rate
We're still getting more negatives on the economic front today, and this is a period where we're really looking for economic growth to avoid a Fed rate cut.
causing fairly investor issues market stock
Fundamentally, I think the stock market is fairly valued, but there are a lot of issues around that are causing investor concern.
dangerous fed growth holding interest market risky spite stocks value view
I don't view the market as risky or dangerous even in spite of more Fed tightening. We have enough value in U.S. and international growth stocks. What's holding stocks back right now is uncertainty about interest rates, not valuation.