Markets Come Full Circle

Sentiment: Plenty of believers = tactical risk in early 2024 Sentiment indicators such as Farrell Sentiment, asset manager S&P...

Macro Strategy—The U.S. trade-weighted dollar remains overvalued, much as we anticipated one year ago, and may well be able...

Cross-Asset Strategy: The October US CPI release delivered the largest downward inflation surprise since the start of the pandemic,...

Since displacing the gains from January, which we believe is the best term to use, the S&P 500 (SPX)...

Key talking points We take a look at how consumers have historically adjust their spending during recessions and compare...

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by Ian Shephardson of Pantheon MacroEconomic ADP and JOLTS are Unreliable Guides to Labor Market Trends The record of...

This article first appeared in Financial Times: Jennifer Ablan, Colby Smith, Richard Henderson in New York and Joe Rennison...