DUSA News and Press, Davis Select U.S. Equity ETF From 03/15/21

We lay out three reasons why we see a strong economic restart, rather than a normal recovery, and believe markets still underappreciate its size and speed. U.S. Treasury yields hit 13-month highs. We see the recent rise in real yields as justified given the growth outlook and remain t...

The emergence of a growth catalyst - in this case, the reopening of the economy - should lead in succession to an increase in activity, demand, output, revenue, investment, and. Our bullish outlook was strengthened this week when President Biden signed the new stimulus package into la...

Doctor Doom, Henry Kaufman, former chief economist at Salomon Brothers, is back and "... sees danger in the markets and economy." The secular bear market that took hold of the index in 1966 bottomed in the fall of 1974, breaking below 600 on the industrials for a brief period. That be...

While a steepening yield curve sows the seeds of its own destruction via an ever more attractive roll and carry, especially with forward guidance on the front end, there is always a risk that markets end up questing the commitment to low policy rates. When Mr. Powell says that the Fed...

It was another great week. More and more investors are fleeing growth and tech stocks while pouring into energy, small cap, and financials. While we agree it is hard to chase those stocks at this point, we believe that this rotation could go on for years. The end of the pandemic i...

The January JOLTS report showed a pattern generally consistent with the past two recoveries, with layoffs having returned to normal levels, then hiring having increased, and finally quits and openings increasing as well. But the late autumn and early winter surge in the out-of-control...

Last week’s rally took the S&P back to all-time highs, reducing concerns about a more significant decline in the near term. However, with money flows still trending negatively, we may see some recent advance consolidation next week. While more stimulus will likely support p...

U.S. and global equities markets are historic speculative bubbles, fueled by runaway monetary inflation and acute monetary disorder. It's my opinion that markets in U.S. stocks, cryptocurrencies, corporate credit and derivatives have evolved into full-fledged manias. The Fed's Z.1 "fl...

The bond market seems determined to make this an interesting FOMC policy decision. Treasury yields have been surging after the Biden administration passed the $1.9 trillion COVID relief bill and set a May 1st goal of getting vaccines to all adults. The taper tantrum might get pric...

The preliminary March results from the University of Michigan Surveys of Consumers show overall consumer sentiment rose in early March, hitting the highest level in a year. Ongoing distribution of vaccines as well as expectations for stimulus were the primary drivers. Continued ea...