Market Commentary

Tomorrow December’s CPI is released.  Will it support the disinflationary thesis?  Rate cut bets have ramped up in the past month even as

Friday is the commencement of the fourth quarter earnings season.  Several bulge bracket financial firms will post results, and most will focus upon any increase in

December’s unemployment data is released at 8:30. Yesterday’s ADP Private Sector Employment survey, which is now regarded as second tier statistic, indicated that

The largest technology stocks that lifted the broader market last year are having a less rosy start to 2024. The “Magnificent Seven,” which includes AAPL, AMZN, GOOG, MSFT, META TSLA and NVDA, have

Has the “pivot narrative” reached a crescendo?  Data released yesterday increased sentiment that the Fed will lower rates by 150 bps in 2024, twice the amount as to what the Fed is suggesting via its

Latest consumer sentiment surveys suggest that most believe a recession is not at hand, the inverse of Wall Street and Federal Reserve analysts.  Sentiment surveys are the ultimate feedback indicator as

Treasuries resumed their torrent five-week advance as the JOLTS job openings hit the lowest since March 2021, reinforcing speculation the Federal Reserve will be able to

Welcome to December. November was the inverse of October. October marked the third consecutive decline and the longest losing streak since March 2020. On November 1 mega size techs were getting crushed with the NASDAQ 100 declining over

The velocity of change is incredible.  At the end of October, the S & P 500 was at its lowest level since May and 10% below its July peak.  The NASDAQ 100 was almost

Treasuries continued their unrelenting November rally on growing speculation the Federal Reserve is done with interest rate hikes and will