January 20, 2016

Global Market Comments
January 20, 2016
Fiat Lux

Featured Trade:
(THE DEATH OF RETAIL),
(WMT), (AMZN), (M), (JWN), (BBY), (BABA),
(THE 1% AND THE BOND MARKET),
(TLT), ($TYX), (LQD), (MUB), (JNK)

Wal-Mart Stores Inc. (WMT)
Amazon.com, Inc. (AMZN)
Macy’s, Inc. (M)
Nordstrom Inc. (JWN)
Best Buy Co., Inc. (BBY)
Alibaba Group Holding Limited (BABA)
iShares Trust – iShares 20+ Year Treasury Bond ETF (TLT)
Treasury Yield 30 Years (^TYX)
iShares Trust – iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD)
iShares National AMT-Free Muni Bond (MUB)
WisdomTree Trust – WisdomTree Emerging Markets Local Debt Fund (ELD)
SPDR Series Trust – SPDR Barclays High Yield Bond ETF (JNK)