It would appear that a new phase in the markets is beginning. But this change is in a very early stage as the CNBC cheerleaders do not acknowledge anything new developing. The thing that this brings to mind…. Contrarianism, ie….Continue Reading →
How will it feel and what will the narrative be? More than likely it will be the opposite of Going Up… Nothing will make sense in spite of a wide array of fundamentals thrown out by the media.. Earnings, inflation,…Continue Reading →
Interest rate markets are in a quandary, is the pressure on rates due to weak economic forces or FED manipulation. Inflation direction remains upward. The S&P Hedging model added another unit of short S&P at 4709 as the RSI is…Continue Reading →
Lance Roberts has done a good job of handling the markets over the past 18 months, while I have been stuck in the valuation analysis/inequality trap. Here is what he says now. Did The Fed Just Set The Stock Market…Continue Reading →
Today we see two things, 1) good numbers on employment and the 2) Taper Tantrum Task Force is all over the various bond markets, good job all around. Not much to analyze. The S&P Hedge Model added one more unit…Continue Reading →
Today the early trade seems to be a “Jerome Appreciation Celebration” as he appears to have convinced the markets yesterday that valuations don’t matter and all the players have to do is follow his cues. Has this turned into a…Continue Reading →
Zombie companies now in focus. HYG junk bonds, Mnuchin’s favorite charity, would appear to be feeling the effect of higher inflation and interest rates. HYG is taking a hit on the downside today.
Two things front and center this weekend, both concerning the FED. First our Special Report : The Fed Backstory, October 30, 2021 – Eureka Perspectives (eureka-perspectives.com) And Steve Hanke’s CNBC interview: https://www.cato.org/multimedia/media-highlights-tv/steve-h-hanke-discusses-federal-reserve-cnbcs-squawk-box-asia
Over the past ten years we have been pointing out the periods when excess stimulus by the Federal Reserve was sending a poor message to the production side of the economy. Ironically, the speculative side of the economy picked up…Continue Reading →
The past 18 months have not been fun for Macro Value analysis. There has only been one story, Funny Money, no analysis needed. Things are changing. Yesterday we promised an interest rate study, it is still in progress but has…Continue Reading →