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The Fed, as expected, announced a 75 basis point rate hike at today's FOMC meeting. Not a whole lot new was revealed by Chair Powell during the afternoon press conference. Stocks and bonds rallied, commodities were mixed, and crypto did not participate in the buying. The U.S. Doll...
April’s inflation figures came in hotter than expected, and there are plenty of signs suggesting tomorrow’s report on May CPI will only add to that trend. Single most important factor in reining in inflation is the public’s confidence in the central bank’s ...
Inflation continues to rise due to the inability for global supply chains to meet consumer demand. The Fed raised rates by 75 basis points in an effort to reduce consumer spending power. History supports the notion that we're closer to the bottom than we are to the top, and stocks...
The Producer Price Index (PPI) rose 0.8% month-on-month, according to the May data released by the Bureau of Labor Statistics. Wholesale prices continue to rise even faster than the CPI, indicating producers are still eating some of their rising costs. With the transitory narrativ...
When money is virtually free for borrowers and near-nil yielding for investors, many people do dumb stuff with money. But when rates rise sharply, the riskiest bets blow up, and investors get reminded that capital options are far from equal. Return of principal matters most in the...
The latest move of the S&P 500 places three major indices fully in the bear’s forest - the Russell 2000, the Nasdaq and now, at last, and firmly, the S&P 500. Never before has the Nasdaq (now down more than 30% since the start of the year) had so many stocks that are do...
Every time it seems things can't get any worse, they do. With the DIA just teetering on the edge of bear market territory, this may just be the start of the downward spiral with a recession looming. I submit the after-effects of the 2000 and 2008 bubbles as well as the COVID Crash...
Stocks have fallen too far, too fast. Stocks are now ready for a short-term bounce. The Fed meeting on Wednesday may serve as a catalyst for such a bounce. Only time will tell. What should we expect following any short-term bounce? And what is the U.S. Treasury market informing us...
As inflation readings around the world come in well above targets, many central banks have sped up their plans to tighten monetary policy after years of historically low interest rates and bond purchase programs. However, the European Central Bank (ECB) is notably absent from the list...
The headline (latest issue of NFIB Small Business Economic Trends) number for May came in at 93.1, down fractionally from the previous month. Index is at the 16th percentile in this series. A decline in Small Business Sentiment was a long leading indicator for the previous two rec...