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US Energy Efficiency: We Have Come A Long Way

US Energy Efficiency: We Have Come A Long Way

By Michael Lebowitz and Lance Roberts | Jul 13, 2026 | Daily Market Commentary
The graph below paints a very interesting picture of US energy efficiency and a key structural economic change in this country. For roughly 25 years after W...
The Feds Ambiguous Guidance – RIA

The Feds Ambiguous Guidance – RIA

By Michael Lebowitz and Lance Roberts | Jul 10, 2026 | Daily Market Commentary
The FOMC released the minutes from Chair Warsh’s first meeting on Wednesday, and the best word to describe the Fed’s advice is “ambiguous.”...
The Low VIX Hides Fierce Undercurrents

The Low VIX Hides Fierce Undercurrents

By Michael Lebowitz and Lance Roberts | Jul 9, 2026 | Daily Market Commentary
Goldman Sachs’s volatility desk made the following comment: “With the VIX back to its lowest levels in more than a month, our Vol desk is focused on...
Is Global Liquidity Peaking? – RIA

Is Global Liquidity Peaking? – RIA

By Michael Lebowitz and Lance Roberts | Jul 8, 2026 | Daily Market Commentary
Michael Howell, founder of CrossBorder Capital, is one of the most followed global liquidity analysts. Howell’s Global Liquidity Index (GLI) often tracks...
The Dollar Narrative Has Turned

The Dollar Narrative Has Turned

By Michael Lebowitz and Lance Roberts | Jul 7, 2026 | Daily Market Commentary
Months ago, the financial headlines were littered with stern warnings that the dollar was depreciating rapidly. There was a popular narrative drawing fear t...
Forward Guidance: R.I.P – RIA

Forward Guidance: R.I.P – RIA

By Michael Lebowitz and Lance Roberts | Jul 6, 2026 | Daily Market Commentary
Fed Chair Kevin Warsh used his first major public appearance, a panel at the ECB’s annual forum in Portugal, to formally bury one of the Fed’s most reli...
The Yen At 40-Year Lows: Should You Care?

The Yen At 40-Year Lows: Should You Care?

By Michael Lebowitz and Lance Roberts | Jul 2, 2026 | Daily Market Commentary
As shown below, the Japanese yen has fallen to levels not seen since the late 1980s. (Note the chart quotes yen per dollar, thus a higher figure represe...
Debt Versus Equity: SPCX Bucks The Trend

Debt Versus Equity: SPCX Bucks The Trend

By Michael Lebowitz and Lance Roberts | Jul 1, 2026 | Daily Market Commentary
Three weeks ago, we wrote
AI Memory Chips Spark Inflation Worries

AI Memory Chips Spark Inflation Worries

By Michael Lebowitz and Lance Roberts | Jun 30, 2026 | Daily Market Commentary
Last week, Apple raised prices on certain products, citing rising costs of AI memory chips. In a statement to Reuters, the company said it had “never seen...
Alphabet Joins The Dow Jones Industrial Average

Alphabet Joins The Dow Jones Industrial Average

By Michael Lebowitz and Lance Roberts | Jun 29, 2026 | Daily Market Commentary
Starting this morning, Alphabet will replace Verizon Communications in the Dow Jones Industrial Average. The index change hasn’t gotten much media attenti...