Wednesday, July 5, 2023: ISI’s Ed Hyman speaking on Bloomberg Television: “Inflation is coming down around the world. They just reported this morning the [...]
For the Week: The S&P500 gained 2.3% (up 15.9% y-t-d), and the Dow rose 2.0% (up 3.8%). The Utilities increased 0.5% (down 8.1%). The Banks rallied 3.4% [...]
For the most part, things seem to look and feel as they did during the old cycle. Loose financial conditions persist, and securities markets remain energized. [...]
Remember early in the Fed’s tightening cycle, when Chair Powell would invoke the legacy of Paul Volcker? And there were press conferences where “financial [...]
Not surprisingly, considering the March banking crisis, Non-Financial Debt (NFD) growth was tepid for the second straight quarter. At a 3.50% rate, Q1 NFD [...]
It’s not a close call. If the Fed “Skips” policy tightening at the June 14th FOMC meeting, it will be yet another big policy mistake. The long string of [...]
We have no reason to expect markets to function normally. So many facets of today’s environment are unique. For one, a once-in-a-century global pandemic [...]
“Growing Debt Ceiling Deal Hopes Send Stocks Higher.” The S&P500 gained 1.6% this week, pushing the index to a nine-month high. The Nasdaq100’s 3.5% [...]
Two-year Treasury yields traded at 4.06% Wednesday, just ahead of the CPI data release. Yields sank to 3.87% intraday Wednesday and were as low as 3.81% [...]
Another humdrum week. The second largest bank failure in U.S. history – to start things off, making for three of the top four over just the past two [...]
For years, we’ve been told the banking system is sound and highly-capitalized – that lessons were learned from the 2008 crisis. Importantly, the Fed would [...]
It was an interesting week. The S&P500 traded little change and within a narrow range. The VIX (equities volatility) Index traded intraweek to the low [...]
