Pullback consistent with stairstep playbook
Correction according to plan. The 7% correction in the S&P 500 (SPX) over the past six trading sessions is likely the first of a few 3-7% drawdowns followed by new…
Read MoreSeptember Macro Slide Deck
Our core fundamental thesis driven by credit suggests we are early in new economic cycle.
Read MoreSPX Target discussion – New Video
I wanted to take a few minutes to discuss why we no longer plan to carry an S&P 500 (SPX) target.
Read MoreAction Jackson
Last July, we wrote about a generational change in the Fed that was taking place as they began to shift from the Volker-era fear of inflation to the current fear…
Read MoreOne more time on the Fed decision – New Video!
There is a lot of debate on what the new Fed policy of average targeted inflation means, and we have a very clear view that began last July.
Read MoreFed announcement discussion – new video
The announcement for average inflation targeting by Fed Chair Powell is a bid deal...
Read MoreConsumer’s bummed by lack of stimulus
How has the lack of a new stimulus bill affected consumer sentiment? Quite a bit.
Read MoreAnswering questions about debt
I was speaking to my neighbor this weekend about life, family, “quarantine fatigue,” and his fear of the incredible level of debt piling up in our economy. It seems this…
Read MoreCalm waters churning under surface
Today we highlight how folks are looking for a correction that has already been happening as seen in one of our four key tactical indicators highlighted this morning.
Read MoreUpdating key chart of “Excess Liquidity” points to continued economic recovery
One of the most important slides out of our August Macro Slide Deck was the historic level of “excess liquidity.”
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