QVMS News and Press, Invesco S&P SmallCap 600 QVM Multi-factor ETF From 01/11/23

Summary We already know about housing’s woes, but manufacturing, and now service-related gauges, are in contractionary territory. However, the latest jobs report continued to reveal that a rather solid labor market setting still exists. So, what if the U.S. economy manages th...

Summary After enduring one of the worst years on record across asset classes, investors should find more cause for optimism in 2023, even as the global economy faces challenges. Inflation is likely to moderate, and risks to the inflation outlook appear more balanced than they did severa...

Summary Inflation rates may be coming down for now, but it may not stay that way. Commodity prices are rising as the dollar weakens and China re-opens. If the trend continues, expect inflation to either rise or get stuck. It turns out that the weaker dollar is indeed helpi...

Summary The NFIB released its Small Business Optimism Index for December early this morning. The report showed optimism has begun to fade after a modest rebound in the past few months. The index fell back below 90.0 to the lowest level since the June of 89.5. The 2.1-point drop in t...

Summary Like any one factor, forex risk’s influence on the US stock market is dynamic. The dollar-stocks dance isn’t perfect. Indeed, sometimes the relationship is close to non-existent. The deeper the S&P 500’s 1-year decline when the US dollar’s 1-y...

Summary Looking around the globe, we find a few major stock markets with bullish setups. Most are leaning bearish to perhaps strongly bearish. The S&P 500 is currently 30 on a list of 36 country indexes, with Turkey, Poland, Italy, Denmark, and China taking the top slots. Longer...

Summary The lag effect of monetary policy changes will surprise the Fed as the fiscal “pig” of stimulus begins to exit the economic “python.”. The massive surge in stimulus sent directly to households resulted in an unprecedented spike in “savings,...

Summary On a coincident basis, driven by a historically tight labour market and robust industrial production growth, the US economy remains deceptively strong despite negative real incomes and tight financial conditions. However, the leading indicators of the business cycle continue to ...

Summary The volatility in Treasury prices was far bigger than the volatility in stock prices. I think in 2023 bonds and stocks will trade places and the volatility in stock prices will be bigger than the volatility in bond prices. Stocks can go down a lot even if the economy is doin...

Summary The overall stock market is grossly oversold, and my small- to mid-cap stocks are trading at 6.8 times median current earnings and just 2.8 times median forecasted 2023 earnings. Clearly, the price-to-earnings compression has become ridiculous and relentless. We are now at the t...