Investment Management

2021-01-25 Market Update. Equity markets were mixed last week, starting strong but wobbling into the weekend. Concerns about COVID-related lockdowns and the effectiveness of vaccines against new strains of the virus slowed overall gains. The S&P 500 rose 1.9%, led by telecom and technology, while banks slumped. The Nasdaq led…

2021-01-18 Market Update. U.S. markets are closed for the Martin Luther King Jr. Day holiday. The S&P 500 fell 1.5% last week on weaker economic data (initial jobless claims by +181,00 incrementally last week and retail sales missed forecasts) and equity hedging in front of this week’s Inauguration Day on…

2021-01-11 Market Update. In a choppy week highlighted by stronger economic data and additional political turmoil in Washington DC, the S&P500 closed at a new all-time high of 3825. Equity markets rose this week alongside surprise Democrat victories in the Georgia Senate runoff votes. The S&P 500 rose 1.8%, led…

2020-01-04 Market Update. In another abbreviated holiday week, the S&P 500 closed at a new all-time high of 3756. Most financial news outlets are now parroting the same two negatively tilted taglines: 1) the global stock indexes are overbought, 2) the uncertainty of the Georgia Senate elections. Bull market First,…

Market Update, 2020-12-28: Not overbought. In last week’s abbreviated holiday week, the S&P 500 closed essentially flat.  President Trump weighed in on the second Stimulus Bill, concerned about too-small direct payments to Americans and far too much wasteful spending. Unhelpful news outlets say overbought The vast majority of financial news…

Market Update, 2020-12-21 . Last week, the S&P 500 closed up 1.3%, with the NASDAQ leading the way, up 3%. Late Friday, news on a positive outcome for US bank stock buybacks in Q1 2021 as well as a $900+ billion Covid Round-2 fiscal deal provides hope for a stronger…

2020-01-14 Market Update. The S&P 500 was modestly down last week. Lingering concerns over Brexit, (globally pretty insignificant) and the fate of further U.S. fiscal stimulus caused the SP500 to slip 1%. Tech and banks fell the most as yields rallied early in the week. The first round of COVID vaccines…

Market update 2020-12-07. The S&P 500 advanced 1.7% last week and closed at another record high. It closed just below the 3,700-mark. Nine of the eleven major sectors posted gains. Year to date laggard, energy stocks, lead the way as the yield curve steepened with hopes of more fiscal stimulus….

Market Update 2020-11-30. The Dow rose 2.2% last week, briefly piercing 30,000 for the first time (all you long time Harry Dent fans and newsletter readers can now relax). Dent was not wrong; he was merely 21 years early). The Dow’s 13% advance so far in the November could be…

Market Update 2020-1-23. U.S. equities look to open about 0.5% higher on more positive vaccine news, with AstraZeneca and the University of Oxford the latest to claim effectiveness in preventing infections. Moreover, the FDA cleared Regeneron’s antibody drug which has the potential to reduce the number of severe cases and…

Market Update 2020-11-16. Breaking News: Moderna Vaccine 94%+ Effective Monday Ground Hog Day!  U.S equity futures are up the morning of 11/16, finding support from Moderna’s positive vaccine news. Treasury yields are slightly higher along the curve, by as much as 2.0 bps at long end. The US dollar is…

Market Update 2020-11-09. Breaking News: Pfizer Vaccine results much better than expected. 90% efficacy! U.S equity futures are up this morning 4–5%+ following the vaccine news from Pfizer. Treasury yields are higher by as much as 7.0 bps at the long end (10s +6.1 bps to 0.879%) with the US…