Global stock markets reacted to the ongoing COVID-19 scare with unusual volatility last week, with U.S. stocks shedding about $4 trillion in value over six bruising sessions. The decline marked the fastest 10% correction from the peak in S&P 500 history (during 1987, the peak was in August, months before Read more…
U.S. and Global Stocks We don’t believe that last week’s declines represented a rational response to neutral analysis of the risks posed by COVID-19. The data we have so far lead us to believe that those risks are relatively modest — that COVID-19 will not be a global black swan, Read more…
Although the news is focused on the human drama of COVID-19 — with quarantines, heroism, tragedy, and fear — economists and financial analysts are busy working through different scenarios for the impact that the epidemic will have on economic activity and economic growth, both in the most affected countries and Read more…
U.S. and Global Stocks COVID-19 fears have given market participants the biggest weekly decline since 2008, and a lot of uncertainty remains. As we navigate current events for our clients, we are analyzing data to understand whether we are witnessing an interruption of a continuing trend, or the arrival of Read more…
The total value of residential real estate in the U.S. is about $34 trillion — about the same as the total market capitalization of all publicly traded U.S. companies. But while technology has made the stock market much more efficient — allowing transactions to happen with greater ease and speed, Read more…
Bitcoin has risen above $10,000 again, and in the context of the ongoing rally in stocks, cryptos are once again getting some attention in the financial press. Although Bitcoin may have left most investors’ minds during the “crypto winter” that followed the bubble burst in early 2018, we note that Read more…
U.S. and Global Stocks Are we in a melt-up? We are beginning to see speculative market participants bidding up the stocks of many companies which had been left for dead — if they’re in the sectors and industries of the moment. Many companies associated with carbon-free electricity generation or the Read more…
U.S. and Global Stocks “Fear? What fear?” U.S. markets have brushed off coronavirus fears and continue to move to new highs. The available data from China and elsewhere suggest that although Covid-19 (the virus’ new official designation) is more worrisome than SARS and MERS, and could yet be disruptive, it Read more…
The rollout of 5G wireless internet presents an enormous economic opportunity, since it will involve the construction and deployment of hundreds of billions of dollars’ worth of infrastructure, and ultimately enable the creation of trillions of dollars’ worth of economic value. The companies that provide that infrastructure will be some Read more…
U.S. and Global Stocks Big events are afoot in the world. The coronavirus outbreak is ongoing, and continues to grow, albeit with little direct impact outside of mainland China. Stock markets in the developed world have apparently resumed their advance, with the U.S. again touching close to all-time highs. Even Read more…
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