OPTION EXPIRATION DAY
There is a plethora of explanations for recent equity weakness; tapering, resurgent virus worries, rising wages, inflation, supply bottlenecks, option expiration....
There is a plethora of explanations for recent equity weakness; tapering, resurgent virus worries, rising wages, inflation, supply bottlenecks, option expiration....
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...
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 ...
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 ...
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 ...
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 ...
July’s employment data exceeded all estimates. More importantly the previous month’s data was revised higher thus suggesting considerable underlying strength. ...
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 ...
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...
Value and cyclical lead equities higher. Small caps outperformed all indices under the simple reflationary premise....