SFY News and Press, SoFi Select 500 From 03/15/21

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...

10-year U.S. Treasury yield. Where is it headed? Will high-flying tech and momentum stocks fly high again? Is this a short-lived sector rotation from tech into value? For further details see: The Great Tech Rotation. Will High-Flying Tech Fly High Again?

Although with the exception of one month there have been job gains every month starting last May, at the pace of the last few months it would take 2 years or more just to get back to the level of employment just before the pandemic struck. In both 2001 and 2008, hours were cut more th...

Despite the pandemic and the resulting lockdowns, business closures and, at its worst point, the loss of more than 20 million jobs, the US household balance sheet improved massively through 2020. US household net worth increased $12.6 trillion last year as unprecedented fiscal and mon...