REPLAY of Wednesday’s call for gold level subscribers
The replay of today's call is now available for gold level subscribers:
Read MoreAugust Macro Slide Deck
The backdrop for equities can appear scary. The S&P 500 (SPX) is bumping up against an all-time high due in large part to just a few “stay at home” beneficiaries…
Read MoreNothing this week changed our view
The Monthly Employment report came in better than expected this morning, reinforcing what we saw out of the higher frequency weekly Initial Unemployment Claims reported yesterday. Again, this is an…
Read MoreFed pulled circuit breaker to prevent larger crisis
Growing up, I always wanted to learn how to fly but never ended up taking a lesson. When my son made his first solo flight at age 16, I looked…
Read MoreCharts from Tuesday’s call
For gold level subscribers who would like to see the charts that Tony discussed on Tuesday’s conference call, they can all be found in the previous macro posts. The links…
Read MoreBrief video discussion on current environment
Today I took a couple minutes to highlight how the current action is what defines a consolidation period...a lot of volatility in both directions without much progress.
Read MorePleasant walk down memory lane
In the summer of 2009, I remember sitting in a Q2/09 post-EPS investor presentation by an industrial company just as the global economy was beginning to recover from the worst…
Read MoreU.S. Dollar weakness and economic recovery theme
The current monetary and fiscal stimulus is historic, Real Liquidity is off the chart, the global economy is just beginning a synchronized recovery, and the U.S. Dollar Index (DXY) is…
Read MoreMacro very different than 2000 bubble
When we raised our 12-month S&P 500 (SPX) target to 3300+, we added the plus because we have no idea what the multiple should be with the Fed and global…
Read MoreTalking SPX target and rotation
Today I wanted to discuss what the "+" means in our S&P 500 (SPX) target and what drives rotation
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