Market Summary The U.S. The U.S. market is still in a correction or sideways mode, with both macro news and fears in evidence, as well as seasonal effects. We are neither as pessimistic as some news media have become, nor are we extremely enthusiastic at the present juncture. We Read more…
Market Summary The U.S.: Stocks, Gold, Cryptos Since we wrote last week, a trifecta of disappointing Fed communication, trade-war escalation, and self-reinforcing recession fears have accompanied an S&P 500 decline of about 4.7% as of this writing, and a strong rally in bonds (as interest rates decline) and gold. Read more…
Modern Monetary Theory and the Case For Gold U.S. investors woke up on Wednesday to news of surprisingly aggressive rate cuts from India, New Zealand, and Thailand, as more Asia Pacific central banks act to preempt a global economic slowdown. At its last meeting, the U.S. Federal Reserve called an Read more…
Market Summary The U.S. As expected, the U.S. Federal Reserve cut the benchmark fed funds rate by 0.25% on Wednesday, as expected, and also ended the runoff of its portfolio of bonds a month early. Fed Chair Powell said, “The outlook for the U.S. economy remains favorable and this Read more…
Is Gold’s Rally More Than a Flash In the Pan? At the end of January, we wrote: “Gold has been a stellar performer in 2019, and our bullish attitude is undiminished. We are believers that (1) slow economic growth in much of the world, (2) some rising inflationary trends in Read more…
Executive Summary 1. Trade wars, geopolitics, and the fate of the yuan. Beneath the trade-war back-and-forth is a stark reality: the era of Chinas massive accumulation of foreign exchange reserves is ending, and in coming years, Chinas currency is likely headed for a significant decline. Saber rattling goes on as Read more…
Executive Summary 1. Deflationary tech is here to stay. In his May press conference, Fed Chair Jerome Powell cited what he believed were “transitory factors” that resulted in a low inflation print over the past 12 months. Although many economists and officials talk about inflation data as if they were Read more…
Market Summary for Week of February 22, 2019 This week we are keeping it short. We remain bullish on the U.S., and on several foreign markets. The U.S. market is still a buy, in our opinion. Breakouts of the type we have recently seen offer opportunity for higher U.S. stock Read more…
The U.S. Economy and Markets In spite of slight deceleration from the GDP growth rate posted in 2018, the U.S. economy continues to be strong, and we anticipate that as 2019 unfolds, growth will strengthen. U.S. markets have rapidly recovered from their fourth-quarter swoon, and while we believe that Read more…
Market Summary The U.S. Economy and Stock Market The U.S. economy continues to move ahead as do the U.S. stock market and U.S. corporate profits, which as we all know, lead the outlook for stocks. Most agree that the growth rate of the economy will slow in 2019, after the Read more…
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