Latest Articles
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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 ... -
Early Retail Spending Data Shows Shoppers Spent Less this Year On Black Friday Weekend
The National Retail Federation surveyed 4,330 consumers on Friday and Saturday to get some preliminary data on retail spending trends over US Thanksgiving weekend. ... -
Stocks Have Broken Out Relative To Bonds
After two years of sideways movement, equities are now outperforming bonds. Since the election stocks have marched higher while bond yields have soared allowing ... -
Seasonal Strength Up To Inauguration
With November coming to a close today we are heading into the seasonally strongest month on the calendar. Historically the S&P500 has seen a ...
