The outcome of the Fed meeting was largely as expected. The Committee strengthened their assessment of the economy and signaled that risks have diminished while leaving the key interest rate near zero and ...

29 April, 2021

Last week I commented about a possible short cover rally in the Treasury market, perhaps a reason why yields dropped about 10 basis points in quick order. JP Morgan wrote yesterday that ...

21 April, 2021

Led by technologies, equities declined. There was no major catalyst other than the generic concerns…earnings, valuations, COVID, inflation fears. Similar to the two week advance in Treasuries, an advance which ...

20 April, 2021

Earnings season accelerates this week. Last week’s results were primarily concentrated in the mega sized financials. Profits exceeded expectations and perhaps of great significance is the...

19 April, 2021

A midafternoon sell program perhaps tied to the Beige Book which indicated potential margin compression sent the NASDAQ down about 1.0%. Oil advanced about 5% on ...

15 April, 2021

There was little reaction to the nominally higher than expected reading for March’s CPI. Consumer prices climbed the most since 2012. The FRB Chair has emphatically stated such increases are ...

14 April, 2021

The question of whether inflation presents a credible threat to the comfortable status quo will be confronted on three different sectors in the coming days. First and most obvious is ...

13 April, 2021