In Barron’s “Best Ideas” column of the summer, Morgan Stanley ’s Lyon Polk identifies the two transgressions that will get you kicked off his team. Edward Jones chief Penny Pennington, meanwhile, shares blunt leadership advice for ambitious women.
Below, some of the best analysis and insight from WSJ writers and columnists, the Dow Jones Newswires team and occasionally beyond, on investing, the wealth-management business and more.
PLANNING & INVESTING
Some Investors Are Betting the Flight to Bonds Is Overdone: The 2019 bond rally has reached epic proportions this summer. A hearty pack of skeptical investors is betting it is way overdone.
Investors Flock to Gold ETFs: Investors poured about $2.6 billion into gold-backed ETFs in July, the highest total since March 2013, data from the World Gold Council show. Investors have flocked to haven assets, like gold, amid renewed anxiety over slowing global growth and a flare-up in trade tensions.
From Dow Jones Newswires
Gold has even more upside says the commodities team for Bank of America Merrill Lynch. The firm says that it has increased its real price forecasts for gold from now until 2021, upping its price target for this year 3.8% higher to $1,396 per troy ounce. “We anticipate continued strong demand from non-commercial market participants,” the firm says. “We reinforce our bullish gold view as central banks remain dovish and the number of negative yielding assets keeps on increasing.” The firm also increased its silver price forecasts through 2021, and reduced its copper price forecasts. Gold began its rally in June, and has since risen 17.5% to $1,524.80 per troy ounce. ([email protected]; @kirkmaltais)
The risk of a recession in the U.S. in the next 12 months has risen to 30%-35% from 25%-30% in the last quarter, S&P Global Economics says in a report. “Our calculated odds based on financial market spreads–at 34.9%–is near the top of this range, reflecting the possibility that tightening financial conditions could lead to a sharper slowdown,” it says. The U.S. Federal Reserve could cut interest rates again as early as September, but “how large additional interest rate cuts will be depends on whether trade disputes will heighten or ease,” the report says. ([email protected]; @lorena_rbal)
BUSINESS & PRACTICE
Capital One Cyber Staff Raised Concerns Before Hack: Cybersecurity employees reported what they saw as staffing issues and other problems to bank’s internal auditors, human-resources department and other senior executives.
Avianca Investigation Could Raise Ethics Questions: Latin American group Avianca Holdings is conducting an internal investigation of an alleged bribery case that involved providing travel benefits to government officials. From an ESG perspective, these practices put a spotlight on Avianca’s governance and transparency. Possible legal consequences could include criminal investigations, fines and reputation damage for both the company and involved senior management
Subha Barry on Getting Women Interested in Stocks and Bonds: Subha Barry, who spent over two decades in the financial services industry, says women often abdicate investment decisions to their spouse. She encourages those just starting out to learn a little bit each day and work with a financial adviser who is willing to answer their questions.
TRAVEL & LIFESTYLE
Buying a Home, No Matter the Market: An analysis of the top seller’s, buyer’s and second-home markets in the country, plus expert advice from real-estate agents and house hunters.
The Wealth Adviser Briefing covers topics of interest to wealth managers, financial planners and other advisers. The content is curated by the Dow Jones Newswires team using articles from the Newswires, Barron’s, MarketWatch and The Wall Street Journal. The briefing is delivered to subscribers by email each workday morning at 6:30 a.m. ET. You can sign up here for email delivery.
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