Unusual disruptions to labor markets, supply chains and production have slowed growth and boosted inflation, but those factors appear unlikely
Weekly Market Compass
Easy monetary policies and the absence of compelling alternatives have pushed investors into one of the great equity market advances in history.
September is the worst month for equities. And after a powerful bull market, investors might understandably be concerned. But this September
Chairman Powell pulled off an impressive feat on Friday. He signaled the Fed’s willingness to taper without unleashing a tantrum. The secret:
The Fed faces difficult decisions. The incoming data suggest tapering is imminent. But risks are also on the rise.
The dog days of summer are here. But when the ‘big dog’–aka the Fed–arrives, the heat may shift to the markets.
Beneath the calm exterior of markets, rotation and counter-rotation are befuddling asset managers. That’s not likely to change.
The tremors of pandemic, climate change and populism betray the existence of deep fault lines in capitalism’s coexistence with democracy
Pitchforks are the symbol of popular unrest. Plowshares the biblical allusion to peace and prosperity. Technology companies would be wise
Investors are unimpressed with Q2 earnings. Is the arrival of peak earnings a sign of peak markets? We doubt it.
Global markets are struggling to find direction and the reason resides in the calculus of markets, namely a divergence between first and second
The pandemic unleashed forces shifting the contours of supply and demand. Price and volume signals are tough to read—for economists and
In a world of negative real interest rates, tight credit spreads and wobbly cryptocurrencies, investors are hemmed in. Stock markets win when
Has the Fed changed its tune about inflation? Is it still transitory, or is it now more evenly distributed? What does this mean for markets?
What will the G7’s agreement to pursue a minimum global income tax rate of 15% mean for the markets?
Is the world economy restoring growth without inflation (‘Goldilocks’), overheating or succumbing to stagflation?
The coming weeks brings a deluge of key economic data. Investors will be looking for patterns, above all in prices as they gauge the sustainability
It is clear that taper talk has arrived, and it won’t go away easily. What does this mean for markets?
It is time for the Fed to normalize its language. If the Fed is to preserve its credibility and promote sounder financial market conditions,
Recently, Warren Buffett made headlines by declaring that he is seeing ‘substantial inflation’, while Fed Chairman Powell calls it only
Might President’ Biden’s proposed new taxes on investment gains produce a sell-off in capital markets?
Over the next five days investors face a veritable tsunami of corporate earnings and economic data releases. The week’s data deluge will
The stage is set for rising global output and corporate earnings for the remainder of 2021. Rotation has arrived in sector terms, and is now
This week kicks off the first quarter 2021 earnings season in earnest. The bar is high, and the data will soon need to validate embedded expectations,