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Monthly Archives: February 2018
POTD: DoJ Flipping Off The President?
It is heating up, folks. Keep it on your radar. Scoop: Besieged Sessions dines with Rosenstein If Donald Trump finally follows through on his rage and fires Jeff Sessions, the image with this story will be printed in history books. Tonight … Continue reading
JFK-Trump S&P500 Analog – Five Basis Points On Day 328
After 328 trading days since election day, the Trump S&P500 sits right on top of the JFK S&P500. That is the performance of the index, 328 trading days after the election day of each president, is less than five basis … Continue reading
QOTD: On Fed Chair, Jay Powell
Larry Kudlow just on CNBC quoting President Trump after interviewing Jay Powell for the Fed chair: “The guy looks like a central banker.” – President Trump (via Larry Kudlow) (QOTD = Quote of the Day)
Posted in Monetary Policy, Quote of the Day, Uncategorized
Tagged Jay Powell, Larry Kudlow, President Trump
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Semiannual Monetary Policy Report to the Congress
February 27, 2018 Semiannual Monetary Policy Report to the Congress Chairman Jerome H. Powell Before the Committee on Financial Services, U.S. House of Representatives, Washington, D.C. Chairman Hensarling, Ranking Member Waters, and members of the Committee, I am pleased to … Continue reading
Posted in Fed, Monetary Policy, PMIs, Policy, RSIs, Sector ETF Peformance, Sports, Uncategorized
Tagged Jerome Powell, Monetary Policy
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Ambiguity Of The Dow’s Value: -3.3% GAAP v 10.5% non-GAAP 2017 Earnings
One more example of the ambiguity of stock value and why earnings are, or can be, the creature of a company’s CFO. This is exactly why we prefer top line metrics, such as sales and revenues. See here for debate … Continue reading
Posted in Earnings, Equities, Uncategorized
Tagged DJIA Earnings 2017 Earnings Growth, GAAP Earnings, non-GAAP earnings
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Who Is Financing The U.S. Budget Deficit?
In case you missed it in our last post, here’s an interesting chart illustrating how the U.S. budget deficit has been funded since 2010 on a quarterly basis. The data are annualized. During QE2 and QE3, from Q4 2010 to Q4 … Continue reading
Stocks And Bonds Now Joined At The Hip
Market Recovery The U.S. stock market rallied Friday on the six bps decline in the 10-year Treasury yield. The S&P500 has now recovered 63.09 percent of its peak-to-low loss. We are looking for 2,805 on the S&P500 for a green … Continue reading
Posted in Bonds, Equities, Sovereign Debt, Uncategorized
Tagged bonds, Interest rates, Stocks, U.S. Budget Deficits
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Week In Review – February 23
Bonds Are The Dog Wagging The Equity Tail A relatively quiet week on a close-to-close basis as not much movement because of no move in the bond. The bond-stock correlation is extremely high. The bond and S&P500 have moved in … Continue reading
Posted in Uncategorized, Week in Review
Tagged bonds, Commodites, Currencies, Global Stock Markets, Stocks, Week in Review
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Why Arming Teachers Is A Really Dumb Idea (In Pictures)
Sometimes you need a crayon to illustrate a simple point. We will use pictures. Where is your market? And one reason why we have this: Looks like the useful idiots in Washington are still taking their dumb-dumb pills. Queen Victoria
Global Macro Monitor 