• Portfolio Warping

    November 11, 2019

    So the Fed cuts rates three times and pauses. Then, the Fed’s Charles Evans suggests that they might let inflation run toward 2.5%. Throw in a few economic green shoots, and some hopes of a China trade deal, and now global bond prices are under pressure, yield curves are un-inverting and cyclical stocks have lifted their heads off the mat and are now getting up on one knee.

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  • Hmmm...

    November 4, 2019

    You can sit and reflect all that you want, but it is easy to see that the markets are continuing to shift right now. We had a lot of news and datapoints hit the market last week with both good and bad news continuing to reward the markets. Even the Fed sees something happening with their move to a neutral stance after a third rate cut. So are bonds done?

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  • Trick or Treat!

    October 28, 2019

    Wow, this is going to be a big week. For the locals, a two-day freezing snowstorm here in Colorado has created an audible on our Halloween costumes from warm weather to cold weather. For market participants, there is only a deep freeze for short investors as the markets reach new all time highs today,

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  • Leaves, Leaves, Leaves

    October 21, 2019

    With the biggest week of earnings in front of us, investors will be raking through a different set of leaves to see what the future might hold for corporate earnings. We have had a small pile to work on the last two weeks and while the reported earnings have been okay, cautious guidance has led to downward revisions to future estimates.

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  • Waiting for a Trade Deal

    October 14, 2019

    Friday’s excitement over a mini trade deal was short lived as the President, the Secretary of the Treasury and the Government of China began to backpedal from the initial announcement. The pressure remains on the White House to come to a deal and the Chinese negotiators know this.

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