What we’re reading (10/6)
“Surprisingly Strong Hiring Sends Bond Yields Higher” (Wall Street Journal). “Employers added 336,000 jobs in September, the strongest gain since January and up sharply from the prior month’s upwardly revised 227,000 gain, the Labor Department said Friday. Job growth was also stronger in July than previously estimated.”
“Investing Has Been Ugly. Stick With It Anyway.” (New York Times). “This is one of those stretches when you may want to avoid looking at your investments. Performance reports for the three months that ended in September are arriving now, and they are ugly. The vast majority of mutual funds and exchange-traded funds — the vehicles used by most Americans for their investments — fell. There were losses in most markets and in nearly all asset classes.”
“The Long Game: Why Patience And Perspective Matter In Investing” (Validea). “It’s tempting to toss in the towel and lock in the 5% that short-term treasuries are paying, and that could be a good or bad decision, but for long-term money earmarked toward growth I’d argue that type of decision has the ability to detract from returns more than enhance them. When we are in periods like this, it’s important for investors to take a longer-term view and not let recency bias and short-termism impact their decisions.”
“The Cure For High Prices That Weren't Actually Inflation” (RealClear Markets). “We are being caught in a tug-of-war pitting the world’s oil exporters and suppliers on the one side attempting to keep crude up under the ironic euphemism of “price stability” against global recession on the other. Last year’s surge already pushed much of the world into one and this year’s was merely an invitation to finish the job for everyone else.”
“Amazon Launches First Internet Satellite Prototypes” (CNBC). “More than four years since the tech giant announced its ambitious plan to invest heavily in building a global satellite internet network, Amazon on Friday saw the first pair of satellites for its Project Kuiper system launch into space.”
