M&A Mania?

(1) Here we go again. (2) Fed Model not a good market timing tool, but it does explain corporate buybacks. (3) Forward earnings yield vs. corporate bond yield. (4) Companies using inflated stock prices as M&A currency. (5) Software and R&D accounting for more of capital spending. (6) Macroeconomic vs. microeconomic models of inflation. (7) Competitive model explains a lot. (8) Yellen’s tools aren’t working. (9) Stocks should grind higher this year. (10) So far, 2014 is reminiscent of 2013, when defensive stocks outperformed until the end of April.