Archive for category: Research Reports

1H22 was challenging for most risk assets as the Fed pivoted more sharply than most expected. The de-rating for...

Macro Strategy—QT Kicks into Second Gear: Financial conditions are likely to remain under pressure as the Federal Reserve’s (Fed)...

In 1987 shortly after Black Monday Peter Lynch was interviewed about the minimal hedging incorporated within the Magellan Fund:...

Chair Powell and the Fed make it crystal clear that their job fighting inflation remains unfinished. Ironically, while bonds...

With consecutive down weeks for the markets and the manner in which this past Friday played out for investors,...

In bull markets, investors are blind to the risks. In bear markets, investors are blind to the opportunities ~...

A 4-week winning streak has come to an end for markets. As reported in last week’s Research Report, this...

If this were a Bear Market Rally then the S&P 500 gain of +17.19% off the decline of -23.55%...

Welcome back to our weekly Research Report cycle (3-weeks on, 1 week off). The markets are expressing a very...

If we know that bad times are temporary and progress is undefeated, why is it so hard to stay...

The rise in inflation and the Fed’s reaction to it has been a real headwind for valuations this year....

Macro Strategy—Powell On A Mission: U.S. policymakers responded to the pandemic shutdowns with the most aggressive fiscal and monetary...

So this just happened: The S&P 500 gained 3.9% from the day of the Fed hike through the following...

“Waiting helps you as an investor and a lot of people just can’t stand to wait. If you didn’t...

Key talking points Aggregate retail inventories have been steadily improving as demand for goods moderates and supply chain bottlenecks...

It’s difficult to be too optimistic with another 75bps rate hike (almost certainly) coming next week, and especially given...

“Bear market rallies are labeled because things get so badly discounted they foster the idea that it has to...

While Defensives are the clear leader, most investors aren’t there, leaving more upside potential as earnings cuts begin. Counter-trend...

A big WELCOME BACK to all of our Finom Group members, as we kick-off another monthly cycle of Research...

A very strong US dollar provides yet another headwind for earnings. Meanwhile, from a historical perspective, this bear market...

Cross-Asset Strategy: While growth risks are elevated, our base case looks for an acceleration in global growth in the...

Macro Strategy—Volatile Times Ahead: Untethered money-supply fluctuations have created a new, more volatile environment for asset allocation. Until the...

Key talking points Bank of America aggregated credit and debit card spending was up 11% year-over-year (YoY) in June....

Fear dominates in times that are especially uncomfortable. Bear market, recession, yield curve inversion, whatever….Negative focus/thinking is a self-perpetuating...