Market Overview

The Fed I: Backward Looking Just in case we didn’t get the Fed’s memo on the change in its monetary framework, Fed Governor Lael Brainard explained it very clearly in a speech on Mar. 23 titled...

In a recent post I reviewed how asset allocation is a reliable tool for earning average to above-average returns (with average or below-average risk) for a given opportunity set. Let’s extend...

US March retail sales came in way above forecast. Headline was up 9.8% versus the forecast 5.8% – ex-autos was 8.4% against the expected 5.0%. Astonishingly, the US 10-year yield is actually down on a...

Yields nudge up: Two steps forward and one step back for tech stocks, a truly bullish EIA report for the US oil complex and commodity currencies rise. With US yields basing and rising ever so...

A 'bumper' Q1 is a certainty rather than an assumption by now, as evidenced by a raft of positive pre-announcements and the first batch of results that – in general – has eclipsed even the most...

The US dollar continued to slide against most of its major counterparts, but although EU shares were mostly in the green, the US and Asian indices traded mixed. Today, market participants may focus on...

Headline inflation rose sharply in March. The bond market yawned. It’s still early for deciding if last month’s acceleration in the Consumer Price Index is an early warning of things to...

S&P 500, NASDAQ 100 hit new records JNJ vaccine paused due to side effects Dollar falls as yields may top out Key EventsFutures on the Dow, S&P, NASDAQ and Russell 2000 as well as European...

US inflation duly rose by 0.50% MoM for March overnight, roughly an eight-year high. However, the print was only just above expectations, and with markets ignoring the collapse of the China trade...

Most major EU and US indices gained yesterday, while the US dollar fell against all the other G10 currencies, despite US inflation surging to +2.6% yoy. It seems that market participants eventually...

Tuesday was another record close for the S&P 500, this time cresting 4,140 for the first time ever. These gains mean we rallyed more than 400 points since March’s Treasury yield pullback. That’s 11%...

The price is right Stronger-than-expected US CPI report for March triggered lower UST yields, a rally in equities, and broad-based USD weakness. The data hurdle for a renewed leg higher in UST yields...

The price of gasoline jumped 9.1% in March accounting for nearly half of the seasonally adjusted increase in the CPI. Largest Monthly Leap Since August 2012The BLS reports the Largest...

Every investment strategy has its own particular set of pros and cons. Do you know how your strategy’s profile stacks up? As a reference point, consider an unmanaged, market-weighted asset...