One of the silver linings of the type of volatility that’s occurred over the past year is that it also creates opportunities amidst the carnage. An area that we believe... read more →
We’ll be putting out a list this week of our major investment themes for 2023 and beyond. Theme #1 is the abnormal, low, weak level of investor sentiment as we... read more →
Here’s the report card on capital market asset classes for 2022: What worked: very, very little. Oil (either flavor, brent or WTI), energy equities, MLPs, and silver was up modestly.... read more →
Whenever Fed chair Powell goes in front of a microphone or a podium, I get slightly nauseous. Powell never misses an opportunity to miss an opportunity. Powell’s pledge yesterday to... read more →
The broad market backdrop continues to play out as we await the Fed’s 50bps rate hike on Wednesday. Inflation is elevated but coming down very quickly. The US economy is... read more →
Market convention is to quote the shape of the UST yield curve by looking at 10Y UST v 2Y UST. Every bond trader and bond trading desk does it and... read more →
The S&P 500 is currently down roughly 16% so far this year, which would make 2022 its worst calendar year since the Great Financial Crisis (GFC), and would also fall... read more →
A better-than-expected jobs report this morning is sadly not what the market was/is looking for. Tough to describe this labor report as anything other than “tight”. +240k jobs after revisions... read more →
Yesterday’s reaction to dovish comments from Fed chair Powell was most certainly welcomed by the markets. Big positive moves in risk assets and lower yields across the board. This wasn’t... read more →
The 200-day moving average (ma) is no silver bullet; but as we reflect on price movement over the last few months it does provide us with pieces to the puzzle.... read more →
