The Traderszone Network

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Should you invest in hotel stocks? After a volatile couple of years, things are looking good for the hotel industry so far in 2016. The Baird/STR, a hotel industry stock index following the 20 largest hotel companies, shows the hotel industry up about 4% year to date.

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George Selgin has a new piece criticizing Narayana Kocherlakota on policy rules.  Here’s the intro:

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After years of fighting creditors, James McGown – the so-called “Bankruptcy Baron”— is seeing his real estate empire crumble. McGown, who Crain’s once wrote has filed “so many Chapter 11’s, he could write a book,” is being forced to sell his Red Hook property, an abandoned four-story walk-up at 300 Van Brunt Street. He will also unload a Carroll Gardens bar and two Gowanus apartment buildings, in a series of auctions ordered by the U.S. … [more]

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AUD was the best performer, NZD lagged
Here is .
why the Australian dollar did so well last week

It’s been a bad year for hedge funds as a result of significantly underperforming the market, coupled with the biggest wave of redemptions since the financial crisis. Unfortunately, according to the latest Goldman data, there is no reprieve in sight. As the following chart from David Kostin shows, both global macro hedge funds and equity long short funds are the worst performing assets YTD on both a total return and risk-adjusted basis.

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Cabinet to cut 2017 growth numbers
La Repubblica reports that Italy will cut 2017 budget estimates on Monday. The cabinet is set to approve a growth forecast of 1.0%, down from 1.4% in April.

Saudi central bank injects about 20 billion riyals
The oil crunch is hurting Saudi Arabian banks and leading to a liquidity squeeze. On Sunday the Saudi central bank decided to give them nearly $5.3 in time deposits along with introducing 7-day and 28-day repo agreements.