• Who Blinks First?

    May 13, 2019
    Who Blinks First

    The U.S./China trade wars accelerated just like last night’s battle on HBO. First the POTUS warned China (via Twitter) not to retaliate against our tariff hikes. Thirty minutes later China retaliated with their own new set of tariffs (via press release). The markets reacted immediately this morning setting dragon fire to any stock sector in the way of an escalating trade war: Semiconductors, Technology, Retail, and Emerging Markets were hit especially hard.

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  • So close to a deal...

    May 6, 2019

    Given that it is graduation time, why don’t we just throw in a box of blank Stanford, Yale and USC diplomas and move on? The external pressures on the White House must be increasing if they first caved on the Chinese IP constraints and then decided to Tweet a Friday deadline. I am beginning to lose track if we are in the last out of the 9th inning or still at the National Anthem.

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  • No Spoilers

    April 29, 2019

    Wow! What a weekend for global screen viewing. GoT: Battle at Winterfell, Avengers: Endgame, Pucks and Hoops playoffs, Battle for the Premier League and for Taylor Swift’s 83 million twitter followers, a new music video. So the U.S. markets continue to hit new highs as more evidence of rebounding economic growth (GDP and Durable Goods) with little inflation attached…

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  • Ready for Lift Off?

    April 22, 2019

    Lots of talk about the 2019 melt-up last week. Fingers pointed at the very accommodating Federal Reserve, rebound in 2019 U.S. economic data, bottoming in China, and risk-off positioning of investors. With the market near its highs and S&P 500 trading at 16 times next years earnings estimate of $180, I wouldn’t be the first to say that investors are scared right now.

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  • Quelle Horreur

    April 15, 2019

    Absolutely crushed to see the Notre Dame Cathedral go up in flames today. Definitely one of the highlights of world architecture. I look forward to the day when it is again rebuilt to remind us of its former glory… Corporate news moved to the front and center last week. Mega mergers and acquisitions, mega corporate product launches and bank earnings.

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