I thought this was noteworthy from Andy Lees at UBS:
With 291 of the S&P 500 companies now reported, adjusted earnings are coming out +2.72% at USD23.78. The WSJ reports that profit margins suffered their biggest sequential decline since the crisis, although it should be said that in Q2 margins were at their highest level since 2006. According to Barclays, margins have hit an inflection point with 7 of the 10 sectors on track for margin contraction this quarter, which it says is ominou...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.