Is Inflation Becoming Yesterday’s Battle?
September 12, 2022 Good morning, After 3 consecutive weeks of sheer punishment for the equity market following the Jackson Hole speech by Chair Powell in August, sellers took a break last week and the S&P 500 Index rebounded +3.6%. Maybe last week’s rebound wasn’t just seller’s fatigue. About two months ago, the economics group at […]
Morning Note
September 8, 2022 The price of oil has settled down this morning following its -7% decline yesterday. It was yesterday’s drop in the price of crude that finally provided some relief to stocks and bonds on the day. Futures are off a tick this morning on a lighter than expected U.S. Initial Jobless Claims number, […]
August 2022 Monthly Letter
The U.S. Central Bank spent most of the first half of August furiously messaging markets that any dovish interpretation of their recent (July 27) FOMC meeting would be a MIS-interpretation. For the first half of August, investors didn’t seem to care what the Fed was messaging – the June-July rally marched onward and upward. Then, […]