Over the past several months we have talked often about the root cause of the current inflationary environment. We can argue at the fringe about supply constraints etc. but at the... read more →
Stocks may not be cheap but they are definitely not expensive anymore. Great companies are still growing earnings; in fact, S&P 500 earnings are UP 6.5% year to date! But... read more →
Over the last few turbulent months, we have highlighted a few individual sentiment indicators as they reached extreme bearish levels at one point or another. However, what was exceptional about... read more →
Last week’s Consumer Price Index inflation data noted elevated levels of inflation but also some signs that inflation may be near to peaking. Financial conditions (stock market selloff, higher mortgage... read more →
There have only been 12x in the past 60 years in which greater than 93% of the trading volume of the SP500 was negative for two out of three days. Only... read more →
Yesterday afternoon big risk rally was a pleasant break. The market came into Powell’s press conference oversold, looking for a reason to go higher. Powell’s somewhat dovish comments just enough to perk... read more →
In March 2009, US unemployment rate was around 10%, the global credit markets were completely frozen, high yield bond defaults were around 11% of the HY market (record default ratio),... read more →
We are entering the busiest days of 1Q reporting season for companies in the S&P 500 index. While only 212 companies have reported results over the last couple of weeks,... read more →
At the beginning of April, the 10-2 year yield curve briefly inverted, creating widespread hysteria in the financial media. However, despite what you may have been hearing or reading, an... read more →
Market Last week’s AAII Bull/Bear reading of just 15.8 was the LOWEST reading since 1992. Bears greatly outnumber Bulls. A lower reading than the darkest days of 2008-2009. Lower than when we... read more →
