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Equities fell nominally as some are wary of escalation in tensions with Iran. Oil also declined believing that such any escalation will not impact supplies. Treasuries were essentially unchanged. ...

Today is the release of the BLS employment survey. The recessionary narrative rose yesterday as the Chicago PMI [manufacturing in the region] posted the lowest reading since 2015. In my view a major reason for this decline is the GM strike and ...

Equities are hovering around last July levels as the markets have become spooked by the specter of higher interest and the possibility of a Trump presidency as a ABC/Washington Post poll showed that Trump with 46% of the vote compared to Clinton’s 45%....

Treasuries climbed and the dollar slumped after data showing anemic expansion of the service sector bolstered speculation the Federal Reserve will not increase interest rates later in the month.  Fed Funds futures are now suggesting a 24% chance, down from over 55% last week....

Was the first quarter—more specifically March—a harbinger of things to come?  Correlated moves---aka momentum trading—unwound to the lowest levels since 2012 and breadth, or the number of stocks advancing—came roaring back....

Until 3:00 P.M. there is little to write about yesterday’s market action. Equities were flat, the dollar fell and oil rallied. Then there was a selloff, minor in regards to the selloffs’ past but enough to send the S & P down for the third...

Always expect the unexpected. Yesterday the dollar tumbled even after FRB Chair Yellen strongly inferred a rate hike is all but assured in 2 weeks. Oil gained ahead of an OPEC meeting where most believe a production cut will not occur. German bond yields rose...

The next four days can be pivotal in determining the direction of the markets for the immediate future. What are the odds of a surprise in November’s jobs data? September was surprisingly weak. October’s report was surprisingly strong. Each report altered the perception as to...

Yesterday I wrote global economic conditions are not as dour as the headlines suggest. I typically write the body of these comments the night before, fully aware of the upcoming statistics but not the data itself....