Three “Data” items today: #1: With just one day left to go in the third quarter, today we will look at how various investment styles performed in Q3 2021 as well as how they are faring for the year-to-date. First, here are the current QTD...
“US Tech stocks decline as rates rise.” That was a prominent headline today, and simple valuation math supports the idea: Technology stocks typically have high valuations, which means markets are imputing many years of rising and relatively...
Today we want to build on our recent seasonal US equity volatility analysis to see what it signals for the S&P 500’s performance in Q4 2021. The S&P was up +20.4 pct YTD through August before this month, well over one standard...
With Q3 2021 ending in 4 days, today we will take an advance look at what worked and didn’t in the third quarter and how asset price returns are shaping up for the year. First up, global/regional/notable country equity price returns (data through...
Three thoughts on today’s FOMC meeting and Chair Powell press conference for “Data”: #1: Powell’s comments reminded us of an important fact that doesn’t get enough attention: the Fed is trying to accomplish 2 very different goals with its...
With capital markets a bit calmer today, we’ll update a few important macro topics we have been tracking in recent months. #1: Regional trends in US unemployment. While the national level of joblessness is now 5.2 percent as of August, the...
