Latest Articles
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Asset Returns Under Prior Presidents
With it being Election Day today let’s look back and see how US assets performed under past administrations. The following chart from Bank of ... -
Republican Sweep Means Fiscal Stimulus
Donald Trump won the Presidency and Republicans managed a clean sweep of the House and the Senate in an election which defied polls and ... -
Markets Expecting Higher Inflation and Interest Rates
Yesterday’s blog posted covered the increased likelihood of fiscal stimulus in the US thanks to the Republican election sweep, see here. Markets are expecting ... -
Seasonality A Tailwind Into Year-End
Since Trump’s victory investors have aggressively rotated out of defensive bond proxy sectors (Utilities, Telecom, and Staples) and into cyclical sectors (Financials, Industrials and ... -
After A Year US 10-Year Yield Above S&P500 Dividend Yield
After almost a year the US 10 year yield is above the S&P 500 dividend yield, see below. The recent change has been due ... -
BAML Survey: Investors See US Election Results As Unambiguously Positive for Nominal GDP
Bank of America Merrill Lynch released the results of its monthly global fund manager survey which shows investor sentiment and position changes since the ... -
Populism Has Been Steadily On The Rise In Europe
In September I highlighted that confidence in the “Establishment” has been eroding and it’s a global phenomenon (see the video here). Since then we have seen ... -
Small Caps Among The Biggest Winners Since The Election
The Russell 2000 is up 12 trading sessions in a row and has gained 10.6% since the election. This is the longest win streak ... -
Credit Spreads Tightening Consistent With Increased Growth Expectations
It’s important to note that corporate spreads have tightened as yields have increased. This is consistent with other markets which are expecting higher growth ... -
Market Betting A Fed Hike In December Is Certain
It’s almost been a whole year since the Fed last hiked interest rates but it looks like they will finally get a hike off ...
