We have been saying it for a while: inflation is falling and falling quickly. 2020 was about COVID and goods inflation. 2021 was about vaccination and service inflation. 2022 was... read more →
The VIX index, frequently referred to as “the Fear index”, is a widely followed measure of market volatility. It is derived from the prices of one-month call and put options... read more →
Eighteen months ago, the financial markets began their transition from a zero-interest world to a world of higher nominal and real yields. The history books will have the final say,... read more →
“Goods inflation” was the big story of 2020. The pandemic happened, we tried to reopen the economy but factories weren’t open. Lumber prices soared, container ships backed up at West... read more →
About 40% of the Consumer Price Index (CPI) is comprised of shelter costs. Shelter comes in various forms but apartment supply/demand drivers are a big underlying factor in the direction... read more →
All-important CPI inflation data out this morning, and while the market’s reaction has been favorable since 8:30am EST there’s lots to evaluate here. Has the headline CPI inflation number fallen... read more →
Much has been written over the last few months about the narrowness of the market (poor breadth). The S&P 500 is up 12%+ year to date but there have been... read more →
The S&P 500 is up 20% from the October lows and predictably more and more investors are bullish on continued gains. Price leads sentiment. The latest AAII survey published yesterday... read more →
With the market now having cleared the all-important 4200 on SP500, the question now becomes “what’s next?”. The answer is “breadth”. As we have noted prior, almost all of the... read more →
The CPI Index captures trends in consumer prices, the stuff that you and I all consume each day in various ways. The CPI Index is roughly comprised of 40% housing... read more →