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Treasury yields largely rose Friday, continuing the trend this week, as a slightly weaker-than-expected payrolls increase in June failed to dissuade traders from betting on more Federal Reserve rate hikes. The Labor Department reported on Friday that nonfarm payrolls rose by 209,000 in June and the unemployment rate was 3.6%. Payrolls rose by 306,000 in May, after revisions. However, there were parts of the jobs report that could give the Federal Reserve to resume hiking. Markets are widely expecting a rate increase to be announced then, but the picture is less clear for the remainder of the year.

Persons: Greg Wilensky, Janus Henderson, Jerome Powell Organizations: Treasury, Labor Department, Dow Jones, Federal Reserve, Janus, Janus Henderson Investors

☆ Lazard, facing a dealmaking drought, is on a mission to boost its money management business. It won't be easy.
▼ + stars: | 2023-07-06 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +11 min

The group extends guidance on geopolitical matters to clients as well as colleagues, like the asset management arm's sprawling salesforce. The firm is making a series of changes to ramp up its asset management business. Lazard has had an asset management business for decades, but it's a business that's finding new relevance on Wall Street. Incoming Lazard CEO Peter Orszag, pictured here in May, has made improving the asset management business a priority. "When it comes to the asset management business, the picture is probably more blurry," said Richard Bruyère, managing partner of the Paris-based asset management advisory firm Indefi.

Persons: Lazard, Evan Russo, Yevgeny Prigozhin, Peter Orszag, Barack Obama, Bill Clinton, it's, Russo, Orszag, Ray McGuire, Jennifer Ryan, Goldman Sachs, Brennan Hawken, Richard Bruyère, Bruyère, Ryan, Hartley, Morgan Stanley, Janus Henderson, Ashmore, Devin Ryan, AllianceBernstein, Larry Cohen, " Russo, Peter Organizations: Lazard, BlackRock, Citi, New York, North, Incoming Lazard, REUTERS, UBS, Investors, Firms, Virtus, Liontrust, Bank's JMP Securities Locations: Russia, New York, Washington, North America, Paris, Taft, Asia

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhat happened to Skype? At its height, Skype – a telecommunications app founded by Scandinavian entrepreneurs Niklas Zennström and Janus Friis, and Estonian engineers Ahti Heinla, Priit Kasesalu, Jaan Tallinn and Toivo Annus – had 560 million registered users. In 2005, just two years after its launch, the app was acquired by eBay. Microsoft then acquired Skype in 2011 for $8.5 billion. Now that Microsoft has rival Teams, the future of Skype is uncertain.

Persons: Niklas Zennström, Janus Friis, Ahti Heinla, Priit Kasesalu, Jaan Tallinn, Toivo Annus –, what's Organizations: Skype, eBay, Microsoft, CNBC Locations: Toivo, Silver

☆ Goldman says small-cap stocks should rise 14% over the next 12 months. The ETFs to capture that return
▼ + stars: | 2023-06-28 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

Portfolio strategist Lily Calcagnini said in a note to clients that the firm's models show the Russell 2000 small-cap index should outperform over the next 12 months. "The Russell 2000 should rise by 14% during the next 12 months, according to a simple model based on US economic growth and starting valuations that has explained roughly two-thirds of Russell 2000 returns between 1995 and 2015," the note said. There are many ETFs that offer investors exposure to the small-cap space, including several large index funds with low fees. The iShares Core S & P Small-Cap ETF (IJR) is the largest small-cap ETF with more than $67 billion and an expense ratio of 0.06%. While the broad index funds above have all returned less than 10% this year, some active funds have seen better results.

Persons: Goldman Sachs, Lily Calcagnini, Russell, Goldman, Dow Jones, Janus Henderson, — CNBC's Michael Bloom Organizations: BlackRock, Vanguard, Schwab U.S, Dow, Growth Alpha, Pacer

☆ American companies are draining their cash at the dumbest possible time
▼ + stars: | 2023-06-28 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN —Companies are sitting on a lot less cash than they were last year, largely because they’re spending it on share buybacks and corporate dividends. What’s happening: A new report from Moody’s Investors Service finds that nonfinancial companies’ corporate cash declined 12% last year to $2 trillion. But debt was flat year over year, meaning that companies didn’t use much of their cash reserves to pay down outstanding loans. Now that it’s more expensive to borrow, companies in the US should reconsider the amount of money they’re spending on buybacks, he added. Preventing companies from repurchasing their own shares, they argue, would free corporate cash to invest in growth and raise wages instead.

Persons: Emile El Nems, ”, Ben Lofthouse, Janus Henderson, ” El Nems, Joe Biden, buybacks, “, Brian Moynihan, Moynihan, CNN’s Poppy Harlow, Nathaniel Meyersohn, That’s Organizations: CNN Business, Bell, New York CNN — Companies, Moody’s Investors Service, Moody’s, Federal Reserve, Bank of America, Corporations, ”, CNN, Commerce Department, UBS Locations: New York, buybacks

☆ The demand for senior housing is about to explode. These stocks will reap the benefits
▼ + stars: | 2023-06-27 | by ( Michelle Fox | ) www.cnbc.com time to read: +9 min

The rapidly aging population is expected to be a boon for senior housing. About 50% of those in assisted living facilities, for example, are aged 85 and older, while 31% are between 75 and 84 years old, according to the National Center for Assisted Living . Bumpy road but 'attractive valuation' ahead Right now, senior housing is seeing favorable demographics, as well as improving fundamentals and margins, said NIC's Clapp. There's a point where for each incremental bed added in senior housing, you might not need another worker in the building, he explained. Other names tied to the trend include Ensign and Omega Healthcare Investors , which both provide skilled nursing and senior living services, as well as Brookdale Senior Living , an operator of senior living communities with just a $755 million market cap.

Persons: Wells, Connor Siversky, Welltower, Ventas, Raymond James, Jonathan Hughes, You've, they've, Caroline Clapp, Greg Kuhl, Janus Henderson, We've, we've, Kuhl, Siversky, NIC's Clapp, Clapp, there's, Stocks, Janus Henderson's Kuhl, that's, Hughes, CNBC's Michael Bloom Organizations: . Census, National Center for, National Investment Center, Seniors Housing, Care, U.S . Census Bureau, NIC, Investors, Estate Fund, Omega Healthcare Investors Locations: U.S, NOI

☆ Pharrell Williams stages Louis Vuitton debut on Pont Neuf
▼ + stars: | 2023-06-20 | by ( Mimosa Spencer | ) www.reuters.com time to read: +3 min

[1/5] Designer Pharrell Williams appears at the end of his Menswear ready-to-wear Spring/Summer 2024 collection show for fashion house Louis Vuitton, on the Pont Neuf bridge, during Men's Fashion Week in Paris, France, June 20, 2023. REUTERS/Gonzalo FuentesPARIS, June 20 (Reuters) - For his debut collection at Louis Vuitton, Pharrell Williams drew his global audience to the Pont Neuf bridge in Paris, kicking off his tenure as creative director of menswear with a celebrity-packed outdoor show that further anchored the LVMH-owned (LVMH.PA) label in popular culture. Abloh had been the industry's highest profile Black designer, credited with forging a place for street style and loose skateboard looks in high-end fashion. Williams was first introduced to the Arnault clan in a collaboration to design sunglasses with Louis Vuitton designer Marc Jacobs in 2004. Williams' appointment raised eyebrows despite his extensive fashion experience, including founding streetwear brands with Japanese designer Nigo and designing capsule collections at Chanel.

Persons: Pharrell Williams, Louis Vuitton, Gonzalo Fuentes PARIS, strode, Williams, Virgil Abloh, Abloh, Virgil, Bernard Arnault, Arnault, Marc Jacobs, Nigo, Erwan Rambourg, Robert Schramm, Fuchs, Janus Henderson, Schramm, Mimosa Spencer, Helen Reid, Vanessa O'Connell, Richard Chang Organizations: REUTERS, Louis, LVMH, Chanel, Juilliard, HSBC, Thomson Locations: Pont, Paris, France, American, LVMH

The reshoring trend is bringing manufacturing back into the U.S., putting the need for robots and automation at the forefront of the building boom. But with a tight labor market, companies are incorporating more automation and robotics into these brand new factories. Another robotics company Daryanani picked was Azenta . Sakraida said it could see upside as it gradually exposes itself more to the reshoring trend. It's working toward becoming a pure-play automation company," Sakraida said.

Persons: Jonathan Sakraida, reshoring, Carol Schleif, BMO's, Amit Daryanani, Daryanani, chipmakers, Morgan Stanley, industrials, Jonathan Coleman, Janus Henderson, Sakraida, Chris Snyder, Rockwell, — CNBC's Michael Bloom Organizations: UBS, Labor, BMO Family, HP, Janus Henderson Investors, Lincoln Electric, Rockwell Automation, ROK, Emerson Electric, Emerson Locations: U.S

An internal Union Investment document seen by Reuters shows that the firm received just 30 responses to its outreach. Although consumer goods manufacturers are particularly exposed, other sectors that import goods associated with deforestation, including commodities houses and industrials companies, will also face scrutiny. Consumer goods makers are counting on technology such as satellites and artificial intelligence to help eradicate deforestation from their supply chains. Several large consumer goods companies say they are close to meeting their ambitious zero-deforestation goals. "The EU rules make deforestation a financial risk as well as an environmental risk."

Persons: Ueslei Marcelino, Henrik Pontzen, Pontzen, Janus Henderson, Jonathan Toub, haven't, Snorre Gjerde, Christophe Hansen, Magdi Batato, Kit Kat, Nestlé, David Croft, Reckitt's, Arild Skedsmo, Richa Naidu, Kate Abnett, Matt Scuffham, David Evans Organizations: REUTERS, Reuters, EU, Germany's, Investment, Unilever, ESG, Union Investment, Nestle, Pepsico, Danone, L'Oreal, KLP, Aviva, Fidelity International, Reckitt, UN Food and Agriculture Organization, Consumer, Thomson Locations: Uruara, Para State, Brazil, NBIM, Nescafe, London, Brussels

☆ Meet the mystery species that buried their dead long before humans
▼ + stars: | 2023-06-10 | by ( Ashley Strickland | ) edition.cnn.com time to read: +6 min

And Homo naledi was added to the family tree in 2013 after cave explorers tipped off researchers that there might be something promising within the dangerous depths of the Rising Star cave system. Mark Thiessen/National GeographicA team of explorers has uncovered evidence that Homo naledi buried their dead and carved symbols on cave walls at least 100,000 years before modern humans. Across the universeAstronomers using the Webb telescope discovered complex organic molecules in a galaxy located over 12 billion light-years away. Doyle/NASA/ESA/CSAThe James Webb Space Telescope peered into a galaxy located more than 12 billion light-years away and spied the most distant organic molecules ever detected. — A bright new supernova appeared in the Pinwheel Galaxy, and a telescope in Hawaii captured a dazzling image of the stellar explosion.

Persons: Matthew Berger, —, Homo, paleoartist John Gurche, Mark Thiessen, naledi, Webb, Doyle, James Webb, Einstein, Dino, dino, Iani smithi, Janus, Ashley Strickland, Katie Hunt Organizations: CNN, UNESCO, Geographic, Cincinnati Zoo, Botanical, NASA, ESA, Parker, Probe, Drassm, Tunisia’s Skerki Bank, Sonar, CNN Space, Science Locations: South Africa, Johannesburg, Spain, Utah, North America, Tunisia, Italy’s, Tunisia’s, Costa Rican, Great Britain, Hawaii

☆ Overlooked No More: Lou Sullivan, Author and Transgender Activist
▼ + stars: | 2023-06-09 | by ( Megan Milks | ) www.nytimes.com time to read: +2 min

He also published his first article, “A Transvestite Answers a Feminist,” in the group’s newsletter — a kind of coming out. Sullivan moved to San Francisco in 1975 with his longtime partner, a cisgender man who encouraged Sullivan’s gay identity but did not see himself as gay. Sullivan’s first few years in San Francisco were difficult: He found the L.G.B.T.Q. community much larger and more diffuse than Milwaukee’s, and his relationship was collapsing amid tensions around his desire to medically transition. Walker came to rely on Sullivan’s knowledge and often sent clients to him for peer counseling.

Persons: Milwaukee’s, ”, Sullivan, Sullivan’s, “, Steve Dain, Paul Walker, Walker Organizations: Milwaukee’s Gay People’s Union, Stanford, Dysphoria Clinic, Institute for, Janus Information Locations: San Francisco

☆ These oversold stocks are a buy here, Citi says
▼ + stars: | 2023-06-07 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Amazon and Charles Schwab are among several stocks that have been oversold and are attractive right now, according to Citi. As part of its systemic oversold strategy, Citi identifies names it rates as buy and have been oversold. Here are some of the stocks Citi rates as buy and says are oversold. Amazon may have rallied nearly 46% this year, but it is still oversold, according to Citi. Alexandria Real Estate Equities , down nearly 17% year to date, is among those Citi rates as buy.

Persons: Charles Schwab, Stocks, Hong Li, Janus Henderson, Greg Kuhl, CNBC's Michael Bloom Organizations: Citi, Wall, Amazon, Bloomberg, Silicon Valley Bank, Alexandria Real Locations: Silicon, Real, Alexandria

☆ Rare North American dinosaur named for two-faced Roman god
▼ + stars: | 2023-06-07 | by ( Mindy Weisberger | ) edition.cnn.com time to read: +6 min

Investigating a new speciesThe newfound species, named Iani (YAH-nee) smithi, is the first early ornithopod from this part of the Cretaceous to be discovered in North America. Terry Gates and Lindsay Zanno excavated the bones of Iani smithi from the Cedar Mountain Formation in Utah in 2014. The braincase of Iani smithi was recovered during excavations. Drawers of Iani smithi bones can be seen in the collections at the North Carolina Museum of Natural Sciences. “Perhaps ornithopod species evolved a certain way or adopted certain behaviors to succeed,” she said.

Persons: —, ornithopods, Ornithopods, Darla Zelenitsky, Terry Gates, Lindsay Zanno, Matt Zeher, ” Zelenitsky, Janus, Zanno, ” Zanno, smithi, Mark Thiessen, Becky Hale, Zelenitsky, ” Organizations: CNN, geoscience, University of Calgary, North Carolina Museum of Natural Sciences, North Carolina State University, Geographic Locations: Utah, North America, Canada, Raleigh, Europe, Australia

☆ This beaten-down sector could be a bright spot in commercial real estate
▼ + stars: | 2023-06-06 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +6 min

As the market reassesses the value of office properties, investors have been steering clear of many commercial real estate stocks. Greg Kuhl, a portfolio manager at Janus Henderson, said he likes the outlook for Alexandria Real Estate Equities , a pure-play owner of life sciences centers. Malhotra said he sees lab REITs as a "lower-beta way to play the volatile Life Sciences environment." But each of these companies are more broadly diversified and have exposure to other types of commercial real estate. Kilroy, for example, had been focused in properties in the tech hubs, but it now has a growing life sciences portfolio.

Persons: Greg Kuhl, Janus Henderson, Kuhl, hasn't, Vikram Malhotra, Mizuho, Malhotra, Healthpeak's, Kilroy Organizations: Alexandria Real, stoke, Food and Drug Administration, Research, Biotech, Sciences, iShares Biotechnology, Boston Properties, Kilroy Locations: Alexandria, Ventas

☆ 'It's darkest before dawn': The global head of portfolio construction at a $311 billion firm explains why investors who haven't pivoted from defense to offense could be giving up big returns — and bre
▼ + stars: | 2023-06-02 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +5 min

In the face of an impending downturn, investors have been flocking to defensive assets. Maybe the most important pivot is actually going to be the pivot in portfolios from defense to offense," Hetts told Insider in a recent interview. According to Hetts, investors who don't have an appropriate allocation to offensive assets risk not being exposed to the market's upside when it rebounds. In fact, Hetts actually believes that the rotation to offensive assets may come sooner than investors imagine. Balancing defensive and offensive investmentsIn the case of a lasting bear market, Hetts expects a drop in earnings growth.

Persons: Adam Hetts, aren't, Hetts, Janus Henderson, we're, Warren Buffet Organizations: Janus, Janus Henderson Investors

☆ ASCO conference will put the focus on the fight against cancer. These stocks are in the spotlight
▼ + stars: | 2023-05-28 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +9 min

Developments in cancer research will be in the spotlight as the American Society of Clinical Oncology hosts the world's biggest cancer research conference in Chicago, starting Thursday. The pair has already has won regulatory approval for Enhertu for metastatic HER2-low breast cancer, but the companies are also studying its use in a variety other HER2 tumors in breast cancers. Lilly's drug, Verzenio, is used in high-risk patients with HR-positive HER2-negative breast cancer that is more likely to reoccur and has already breached the patient's lymph nodes. In a research note earlier this month, Guggenheim analyst Seamus Fernandez said Kisqali is already taking market share from Pfizer's Ibrance in metastatic breast cancer. Merck's Keytruda is also being watched for what benefits it could offer early-stage lung cancer patients .

☆ Investing in AI: how to avoid the hype
▼ + stars: | 2023-05-26 | by ( Naomi Rovnick | ) www.reuters.com time to read: +5 min

SummarySummary Companies AI boom brings fresh challenge for investorsAI-themed stocks highly valuedStick with big tech not AI stocks - investorsLONDON, May 26(Reuters) - Experienced tech investors are hunting for undervalued opportunities in an over-valued space. Investors are chasing exposure to generative AI, the technology run by ChatGPT that learns from analysing vast datasets to generate text, images and computer code. Businesses are trying to use generative AI to speed up video editing, recruitment and even legal work. GAM's Hawtin said he has also hunted out companies that provide the "picks and shovels," necessary for enabling new AI technology. Amazon's Bedrock service, for example, lets companies customise generative AI models rather than invest in developing them themselves.

☆ How do you solve a problem like AI? Tax it
▼ + stars: | 2023-05-18 | by ( John Foley | ) www.reuters.com time to read: +6 min

The chances of “generative AI” being put back in its box are very small. Goldman Sachs economists estimate that 18% of work could be automated globally, and that 7% of the U.S. workforce might be substituted by AI. Moreover, while AI will create profit windfalls, many countries don’t tax those as effectively as they ought to. But a dollar of saved costs for a company creates only 21 cents in corporate income tax revenue. Capital gains are still taxed below the level of income in most countries.

☆ US debt ceiling: How to trade off it
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +5 min

BlackRock says (BLK.N) it's been buying Treasuries in anticipation of an economic slowdown and a protracted debt ceiling fight. 2/ RAINY DAY DEFAULT PROTECTIONCredit default swaps (CDS), which work like insurance against a debt default, are seeing strong demand. "If debt ceiling concerns grow we think markets will price in more Fed rate cut expectations, which means 5-year yields would fall," said Miyairi. 5/ ALL THAT GLITTERSDeutsche Bank strategist Robin Winkler says a good hedge may be buying gold against the dollar, as it has the tightest relationship with newsflow around the debt ceiling. In August 2011, as a debt ceiling crisis prompted a U.S. credit rating downgrade, gold rose 11% that month alone.

☆ Investors will have to identify good and bad companies correctly to invest, says Ali Dibadj
▼ + stars: | 2023-05-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvestors will have to identify good and bad companies correctly to invest, says Ali DibadjAli Dibadj, Janus Henderson Investors CEO, joins 'Closing Bell: Overtime' to discuss where investors should make investment plays in this market uncertainty.

In theory, that should be welcome news for stocks and other so-called risk assets, which wilted under the barrage of hikes last year. Yet some investors worry this year's 6.5% rebound in the S&P 500 has made equities expensive. Many are also wary that the Fed's rate hikes may precipitate a recession later this year. Stocks fell on Wednesday, with the S&P 500 ending down 0.7%, after the Fed's latest policy decision in which the central bank also raised rates by 25 basis points, as markets expected. Friday's U.S. employment report and next week's consumer price index data may give investors a sense of how deeply the Fed's rate hikes have seeped into the economy.

☆ A solid start to earnings season will be put to the test in the week ahead
▼ + stars: | 2023-04-29 | by ( Zev Fima | ) www.cnbc.com time to read: +14 min

The biggest week of this earnings season showed us that things aren't as bad as many feared. The week ahead of earnings, including several more Club names, should tell us more. The results are always important, but it's the guidance and management commentary we will really hone in on to better understand the path ahead. In Amazon's case, a solid first quarter for its AWS cloud business was overshadowed by management seeing a material slowdown in April. ET: Nonfarm Payrolls Looking back It was the biggest week of this earnings season for the Club as several of our mega-cap holdings and industry bellwethers reported results.

☆ Analysis: Banking crisis scars struggling U.S. real estate stocks
▼ + stars: | 2023-04-19 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

After slumping 28% last year, the S&P 500 real estate sector (.SPLRCR) has gained about 1% in 2023, lagging an 8% rise for the overall S&P 500 (.SPX). Real estate is the only one of the 11 S&P 500 sectors to underperform the benchmark index in both 2022 and so far in 2023. The real estate sector has slumped 2% since SVB's troubles came to light on March 8, compared to a 4% rise for the S&P 500. “There is nothing about the current banking situation ... that made life easier for real estate companies,” said Peter Tuz, president of Chase Investment Counsel. S&P 500 real estate company earnings are expected to fall 0.3% this year after rising almost 11% in 2022, according to Refinitiv IBES.

☆ Slowing US inflation shifts investor focus to earnings season
▼ + stars: | 2023-04-12 | by ( David Randall | ) www.reuters.com time to read: +4 min

Wednesday’s data showed consumer prices growing at a slower pace than expected last month, bolstering the argument that inflation is decelerating. Yet some investors believe markets may have already accounted for a mild inflation slowdown and say further gains in stocks could depend on whether upcoming corporate earnings - especially results from banks - can beat forecasts. Earnings per share for the six largest U.S. banks are expected to fall 10% from the same quarter last year, according to Refinitv data. Overall, analysts expect S&P 500 earnings to fall 5.2% in the first quarter of 2023 from the year-ago period, I/B/E/S data from Refinitiv as of April 7 showed. That weakness would come on the heels of a 3.2% earnings fall in the fourth quarter of 2022, a back-to-back decline known as an earnings recession which has not occurred since COVID-19 blasted corporate results in 2020.

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