A while ago we wrote about a one-time tax-code change and why it might be causing the yield curve to flatten. Here is that commentary: "Why the Yield Curve Is Flat & Why It May Steepen."
Now we are past the September Treasury note and bond auction and past the tax-code-change deadline. So will the yield curve steepen? Flatten? No change?
We think it will steepen, but we recognize that forecasting the yield curve is notoriously dangerous. The standard quip is that economic forecasters were created to make astrologers look good.
Many factors impact the yield curve. We happen to think that the tax-code regime change is one of them, and we may be able to confirm that quickly (within a month or two). The reason is that the tax-code change caused a one-time shift of... more
For those familiar with my generally lengthy and somewhat comprehensive articles, this piece will seem relatively succinct.
That is because an investment in Paccar (PCAR) is singularly simple:
The company has superb management.
Paccar has a considerable moat.
By several measures, the shares are trading with a margin of safety.
It has a solid financial foundation and ...
as the demand for trucks has reached unprecedented levels, Paccar has strong growth prospects.
Read on to dissect my buy thesis on Paccar.
First The Unprecedented Demand Unprecedented?!
Perhaps the word "hyperbole" springs to mind?
Orders for North American Class 8 trucks hit an all-time high, in excess of 52,000 units in... more
Nightmare scenario for the markets? They just shrugged. But homebuyers haven't done the math yet.
There's an interesting thing that just happened, which shows that the US Treasury 10-year yield is ready for the next leg up, and that the yield curve might not invert just yet: the 10-year yield climbed over the 3% hurdle again, and there was none of the financial-media excitement about it as there was when that happened last time. It just dabbled with 3% on Monday, climbed over 3% yesterday, and closed at 3.08% today, and it was met with shrugs. In other words, this move is now accepted.
Note how the 10-year yield rose in two big surges since the historic low in June 2016, interspersed by some backtracking. This market might be setting up for the next surge:
The list of dividend champions contains a handful of healthcare companies, and for good reason. Healthcare is a basic societal need that has seen increasing demand as populations grow, modernize, and require new technologies born from innovation. Today's spotlight is Medtronic plc (NYSE: MDT), whose dividend streak spans 41 years. The company's portfolio of medical devices is honed on growth niches within healthcare that has the company's future looking very lucrative for investors.
Medtronic designs, manufactures, and sells medical devices. It is headquartered in Dublin, Ireland. The company generates approximately $30 billion in annual revenues across four segments: Cardiac and Vascular, Minimally Invasive Therapies, Restorative Therapies, and Diabetes.
On September 18, 2018, the Board of Directors of Patterson Companies, Inc. (Nasdaq: PDCO) declared a quarterly cash dividend of $0.26 per share. The dividend will be payable on, or about, October 26, 2018, to shareholders of record as of the close of business on October 12, 2018.... more
Dividend Declaration... more
Physicians Realty Trust (NYSE: DOC) (the “Company”) announced today that the Company’s Board of Trustees has authorized and the Company has declared a quarterly cash dividend of $0.23 per common share and unit for the quarter ending September 30, 2018.... more
Agilent Technologies Inc. (NYSE: A) today announced that a quarterly dividend of 14.9 cents per share of common stock will be paid on October 24, 2018, to all shareholders of record as of the close of business on October 2, 2018.... more
(NYSE: AFT) - Apollo Senior Floating Rate Fund Inc. (the “Fund”) today announced the declaration of its distribution for the month of October 2018 of $0.098 per common share, payable on the date noted below.... more
(NYSE: AIF) - Apollo Tactical Income Fund Inc. (the “Fund”) today announced the declaration of its distribution for the month of October 2018 of $0.107 per common share, payable on the date noted below.... more