Monday, October 3, 2022

Morning Note: Equity Market Conditions a Little Less Bad

In recent posts we've presented a case for a bear market rally, and even dared to hint at the notion (as opposed to the conviction) that a bottom may not be in the too distant (whether in terms of price or timing) offing. 

Now, I need to be clear, market skies are anything but, well, clear, right here... However, and make no mistake, they indeed won't be as stocks begin to form their ultimate bottom this go round. On the contrary, they'll likely be exceedingly dark, precisely then.

Saturday, October 1, 2022

Economic Update and an Important Look Below the Stock Market's Surface (video)

Once playing, click the icon in the lower right corner for full screen. Focus should occur after a few seconds; if not, click the wheel to the left of the YouTube icon to adjust:

*Note, at 12:20, meant to say "best day in 2 years" not "20"


Attention Non-Client subscribers: Nothing in this video should be construed as investment advice. The examples expressed relate to portfolio management we perform on behalf of our clients, and, again, under no circumstances are they to be considered recommendations to the viewer.


Friday, September 30, 2022

Stock Market Snapshot (video)

Once playing, click the icon in the lower right corner for full screen. Focus should occur after a few seconds; if not, click the wheel to the left of the YouTube icon to adjust:


Attention Non-Client subscribers: Nothing in this video should be construed as investment advice. The examples expressed relate to portfolio management we perform on behalf of our clients, and, again, under no circumstances are they to be considered recommendations to the viewer.

Morning Note: Where's Waldo?

Yesterday's final look at Q2 GDP came in unchanged at -0.6%, with personal consumption besting consensus expectations with a 2.0% annual increase. Initial jobless claims continue to defy the recession narrative, with a sub-200k print for last week. 

Thursday, September 29, 2022

Morning Note: Train Wrecks

This from Bloomberg's David Finnerty last evening pretty well sums up the consensus among macro gurus with regard to yesterday's action in the pound:

Wednesday, September 28, 2022

Stock Market Snapshot: Getting Crowded on the Bear Side of the Boat (video)

Once playing, click the icon in the lower right corner for full screen. Focus should occur after a few seconds; if not, click the wheel to the left of the YouTube icon to adjust:


Attention Non-Client subscribers: Nothing in this video should be construed as investment advice. The examples expressed relate to portfolio management we perform on behalf of our clients, and, again, under no circumstances are they to be considered recommendations to the viewer.

Morning Note: Analysts Getting the Message

Equity futures were nicely green last evening, that is until word hit the wire that Apple instructed its suppliers to pull back on iPhone 14 production, citing reduced demand... On that, futures promptly rolled over.

Recall from our September 20 morning note: