As the markets moved into September there was a lot of fear. As measured by GDP, purchasing managers, and the Institute for Supply Management (ISM), the economy appeared to be slowing. Bond yields were falling as investors believed that the…
Thoughts ahead of this week’s Federal Reserve meeting: Investors expect that the Federal Reserve will ease 25 basis points. This time there is very little expectation that a stock rally will follow. There might be one if the Fed unexpectedly…
The S&P 500 is up close to 4% since the last Update and about 6.5% since the June 3rd low.[1] And yet, nothing really seems different in terms of the economy or the trade outlook. We still have no resolution…
The Great Bull Market The bull market began on March 9th, 2009, so at this point the Great Recession is completely gone from 10-year performance results. To a large extent, 10-year performance is positively correlated to the technology and consumer…
It is eye-opening to read the Market Perspective I wrote exactly two months ago. There was a real sense of dread back then as the global economy appeared moving toward recession while the Federal Reserve was still in tightening-to-fight-inflation mode. …