TINA – There Is No Alternative – is a popular Wall Street acronym describing a key reason why equities remain so popular. TINA is about
TINA, Meet Keynes
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Weekly Market Compass
Has the Market Lost Its “Mind?”
Over the past decade, and even more notably in recent months, stock markets appear to have de-coupled from fundamentals. Or have they? In
A Bend In The Road?
After a powerful and nearly uninterrupted rally dating from late March, global equities lurched sharply lower this past Thursday, before staging
Recovery or Relapse?
Beneath the market’s joyful response to inflection points, levels of spending, output and joblessness remain bleak.
Pandemic, Payrolls, Protests and Politics
Wall Street’s favorite adage, ‘climb a wall of worry’, may soon be put to test. Following the powerful equity market rally of the past
Where’s the Bottom?
Alongside the US Memorial Day holiday, we explore the latest high frequency indicators of global economic activity. Our aim is to provide
Re-Opening Does Not Signal Buy
Markets dipped this past week. Might this signal the end of the recent rebound? Or is it merely a pause, with further gains to come?
On the Same Page—For Better or Worse
This past week equity markets continued their impressive recovery from their Covid-19 lows.
Market Compass: Six Headwinds
Markets recovered strongly in April. US equities enjoyed one of their best months since the 1930s, credit markets stabilized, and even depressed
Calmer, But For How Long?
As we move into the last week of April, market jitters appear to have begun to subside. Even oil prices recouped some of their dramatic declines.
The Chosen Few
Global equity indices continue to recover. Much of the related commentary concludes that investors are heartened by signs of pandemic curve-flattening
Markets are Mistaken
Last week, markets rebounded. Major equity indices have now recouped half their losses from their Covid-19 driven lows.
A Flat Curve is Not Enough
Investors ought to be wary of overstating the economic and market benefits of pandemic curve flattening.
Uncertainty, Risk and Asset Prices
The pandemic remains the sole driver of global markets. That reality makes fundamental analysis difficult, if not impossible.
History Has Something To Say
Today, it is tempting to jettison conventional thinking about asset prices and their relationship to the fundamentals.
Market Volatility Explained
This morning, March 18th, global equity markets are again in steep decline, despite the stepped up fiscal and monetary commitments announced
Thoughts on Surviving this Avalanche
Public policy is now moving on two fronts: containing the pandemic and offering economic stimulus. But will that be enough to draw support
An ounce of prevention is worth a pound of cure
Global risk assets had another tumultuous week, responding to the spread of the coronavirus, paltry efforts to mitigate its economic fallout,
The Coronavirus Infects the Markets
Global risk assets sold off heavily last week on concerns that the coronavirus pandemic may significantly dent growth and corporate earnings.
Rising Uncertainty
Markets have suffered a hiccup in recent days, with stock prices dipping at the end of the past week. Long-term interest rates are once again
Navigating the Virus
This was the week when markets began to succumb to worries about the spread of the coronavirus.