Market Commentary Archives - Page 15 of 113 - Capitol Development Account

OPTION EXPIRATION DAY

There is a plethora of explanations for recent equity weakness; tapering, resurgent virus worries, rising wages, inflation, supply bottlenecks, option expiration....

20 August, 2021

EQUITIES ENDED AROUND SESSION LOWS ON TAPERING TALK

The Fed Minutes signaled that a formal decision on a reduction of its massive bond paying program could happen in 2021. Many, including me, thought the Fed would...

19 August, 2021

WILL THE JACKSON HOLE SYMPOSIUM BE OF ANY SIGNFICANCE?

For many years the Jackson Hole Symposium was the Federal Reserve event of the year. The hype was intense. Several years ago, the event took a noticeable downshift as ...

17 August, 2021

CONSUMER SENTIMENT FELL TO THE LOWEST LEVEL IN A DECADE

Sentiment fell to the lowest level in nearly a decade. The data fell short of all estimates by a wide margin with perhaps the decline in future expectations most ...

16 August, 2021

CPI AT 8:30

Yesterday I rhetorically asked whether reality will return to the bond market with a vengeance. At the time of this writing the 10-year Treasury is yielding 1.37% up from ...

11 August, 2021

WILL REALITY RETURN TO THE BOND MARKET WITH A VENGEANCE?

Will reality return to the bond market with a vengeance? Almost everyone including FRB Chair Powell is surprised by the two month advance in Treasuries. As widely discussed the ...

10 August, 2021

JULY’S JOBS DATA EXCEEDED ALL EXPECTATIONS

July’s employment data exceeded all estimates. More importantly the previous month’s data was revised higher thus suggesting considerable underlying strength. ...

09 August, 2021

IS THE CHINESE CRACKDOWN ANYTHING OF SIGNIFICANCE?

Is the crackdown in China an event of great significance? Several bulge bracket firms including JP Morgan and Goldman have commented that many Chinese companies may be ...

28 July, 2021

EARNINGS ARE SURPRISING ON THE UPSIDE BUT SO ARE INFLATIONARY COMMENTS

Some have stated the strength of 2Q earnings is surprising. I don’t agree with this statement for the simple reason for the gazillionith consecutive quarter profits have...

22 July, 2021