Equities edged higher, helped by fresh stimulus from the ECB, amid mixed signals on whether the Trump administration and China are closer to a trade deal. ...

Within five minutes yesterday Bloomberg posted two headlines. The first was “Assets in passive mutual funds now exceed assets in active managed mutual funds.” The second headline was value/small caps are again outperforming momentum for the third consecutive day ...

Two consistent themes of these remarks are negative interest rates and the transition of funds back to Main Street from Wall Street. ...

Led by gains in the financial and energy sectors, equities were generally mixed. Perhaps a major question that could soon arise is how the markets view the 2020 election. At this juncture it is viewed as nothing other than a side show ...

In my view the August labor report indicated more strength than weakness. Commenting about the perceived weakness, private sector and non farm payroll growth did nominally disappoint, posting a 130k and 96k increase, the gains were still considerably higher than the 100,000 new jobs...

At one time yesterday the rout yesterday in the two year Treasury—or the instrument most sensitive to monetary policy—was the biggest in ten years according to Bloomberg. The 10-year saw the biggest increase since November 2016. The catalyst for the selloff was three...

Tomorrow is the release of the BLS labor report. The report can offer considerable insight into the strength of the economy. The market and the narrative is suggesting the economy has gone over the proverbial cliff ...

Trade and the ISM manufacturing Index weighed heavily on equities. There is little I can add about trade…it is fluid, a fluidity based upon a five word tweet. ...

According to Bloomberg 30% of all investment grade securities now bear subzero yields. In other words lenders are paying borrowers to own $17 trillion of debt. In my view this is the ultimate bubble perhaps greater than the infamous tulip bulb frenzy of...