Blog Posts

A broadly lower week for both the stock and bond markets as investors grapple with the outlook for interest rates.  ‘Higher for longer’ was the headline of choice by week’s end as investors started to dramatically cut any expectation of rate...

   The equity markets were modestly higher for the week but bonds slipped ahead of next week’s Fed meeting.   Nothing dramatic either way, though, and a host of economic and political news did little to move the needle much.  F...

Most asset prices corrected in August with all of the main equity indexes losing ground.  Bonds were more of a mixed bag, with short-term bonds gaining a bit while longer-term bonds dipped.   But none of the moves were particularly dram...

It’s that time of the year again when all eyes in the investment world turn to Wyoming.  Yea, I know, weird, right?   But every year the Fed has a get-together in Jackson Hole to talk about, well, Fed stuff.  A number of years ago ...

The broad stock market continued to correct this week, with the high-flying growth stocks bearing the brunt of the selling.  But given the run most sectors have had this year, the correction so far is modest.  The S&P is off roughly...

The equity markets have been on something of a tear in July.  For example, the Dow closed higher for 13 straight sessions through Wednesday, before backtracking slightly on Thursday.   This is the longest series of consecutive gains sin...

We saw a bit of a rotation in the equity markets this week with the growth names sagging a touch while the broader market pushed higher.  Emerging was notably weak as well, as Chinese stocks in particular struggled.   The bond markets w...

Well, the week got off to an interesting start with an open rebellion in Russia (maybe, possibly – it’s Russia, so who really knows?).  But whatever it’s called, it fizzled out almost as soon as it started, and global equities managed to put...

Each week the market is driven by a different narrative.  One week it’s the debt ceiling.   The next it’s all about AI.  Then you get a bout of recession fears followed by jitters about inflation.  Rinse and repeat.  ...

Another solid week for global equities despite interest rates hooking higher.  Inflation appears to be moderating at a decent clip, and this combined with resilient growth data offset a relatively hawkish Fed meeting.   First, let’s r...

Time to Move On After all the anxiety and angst, you mean to tell me that’s it?  No debt downgrade, no whiff of default, not even a market tremor or two?    Debt ceiling pantomime.  But the deal is done and the can is kicked ...

It was a good week for stocks despite an increase in bond yields and growing jitters about the debt ceiling.  Tech stocks performed particularly well, but even small-caps and beaten down bank shares managed to rally.  The beleaguered ...

The markets are in a bit of a holding pattern as we work closer to the debt ceiling showdown.  Lots of guessing going on about the ultimate solution, but no concrete news as of yet.  Meanwhile, a couple of economic reports point towards...

More turmoil in the banking sector this week.   We started off Monday with news that First Republic was no more.  The FDIC arranged for J.P. Morgan to purchase the entire company, basically wiping out both the existing stock and bond ho...

It was a flat-ish week for the markets as investors weighed a number of competing issues.  Corporate earnings, the growth and inflation data, and continued woes at First Republic all vied for attention.   Some of the big tech heavyweigh...

Inflation was the theme of the week, and in general the markets liked what was reported.  The first report was the consumer price index for March.  The headline rate was up just +0.1% month-over-month, a tick below expectations, while cor...