• A Beach Glitch

    March 11, 2019

    Life is not a straight line. Glitches happen. Like on Friday when Anti-Goldilocks showed herself and took a massive bite out of the Non Farm Payroll number. We expected more than 200,000 jobs created and we only received 20,000 combined with increased wage growth. Chalk it up to a one time blip…unless of course it happens next month and then there will be a full out panic and run on Wall Street.

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  • Still a Bit Hazy...

    March 4, 2019

    Sure, maybe the Fed now has our back. And maybe the trade war with China will be ending. But the reported economic data is still a mess and Washington politics continue to lead all the headlines. While it is tempting to want to push more investment chips into the middle of the table…

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  • Good Morning Vietnam

    February 25, 2019

    This is a big week for geopolitics. While the media is focused on the meetings with North Korea in Vietnam, the markets remain focused on the trade negotiations with China. The White House is inching closer to a U.S./China trade deal which is being confirmed by the strength in the Chinese currency and stock markets…

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  • Tug of War

    February 19, 2019

    With the S&P 500 now trading at 16 times its 2019 consensus earnings estimate in a declining earnings environment, it is now time for the fundamental valuation anchor to begin to resist the very strong pull of a technical bounce since Christmas. Either the outlook for earnings is low or…

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  • Yellow Lights

    February 11, 2019

    Back to macro market worries as: 1) U.S./China trade talks ramp up, 2) The U.S. Government heads for another Shutdown on Friday and 3) Global growth data points continue to point toward a slow down. Confirming the markets worries, global bond yields are in retreat with many countries looking at three year low yields…

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