Credit Risks Trump Inflation Concerns
Written by Michael Lebowitz and Lance Roberts | Mar 24, 2023 | Daily Market CommentaryCourtesy of BofA, the survey results below show that professional money managers are now more…
> Read MoreCourtesy of BofA, the survey results below show that professional money managers are now more…
> Read MoreYesterday’s FOMC meeting was likely one of the toughest for the Fed in a long…
> Read MoreLong before Silicon Valley Bank failed, the banking sector was experiencing a silent bank run….
> Read MoreThe Silicon Valley Bank failure, originally considered a one-off event, is escalating and spreading. On…
> Read MoreThe FOMC will announce its decision on the Fed Funds rate policy this Wednesday. Given…
> Read MoreHeading into next week’s FOMC meeting, the Fed’s big dilemna is whether to address recent…
> Read MoreShares of Credit Suisse and other large European banks traded sharply lower yesterday. This occurs…
> Read MoreLess than a week after Jerome Powell was pounding the table on Capitol Hill, arguing…
> Read MoreOn Sunday afternoon, the Fed and Treasury rode the rescue with the Bank Term Funding…
> Read MoreBanking is relatively simple, they raise deposits and lend money. To do so successfully, a…
> Read MoreThe chart below showing delinquent consumer loans is concerning but misleading. At first blush, the…
> Read MoreOver the last twelve months, the Fed has been tightening policy at its most aggressive…
> Read MoreThe yield curve is often used as a proxy for bank profit margins. The logic…
> Read More0DTE options are speculative option trades that expire within a day of expiration. Furthermore, and…
> Read MorePer a recent Yahoo article: “The average American renter is now paying more than 30…
> Read MoreThe graph below shows that a sub-45 reading on the ISM manufacturing survey index has…
> Read MoreWednesday’s Home Purchase Index fell sharply to the lowest level since 1995. The index compiled…
> Read MoreConsumer staple companies typically include companies that sell essential goods. As such, earnings growth tends…
> Read MoreHousing comprises almost 40% of CPI, of which rents account for about three-quarters of that…
> Read MoreGerman economic growth in the fourth quarter was revised lower to negative 0.4%. More concerning,…
> Read MoreTuesday’s Commentary led with a discussion of equity valuations and margins. Both are well above…
> Read MoreIn mid-August, the price of natural gas peaked at $9.33. Forecasts for a cold winter…
> Read MoreThese days the financial media spends a lot of effort linking the Fed’s future actions…
> Read MoreAs we share in a section below, it is becoming more evident the Fed intends…
> Read MoreBitcoin and other cryptocurrencies rose over 10% on Wednesday. Per the graph below, Bitcoin, the…
> Read More6-month and 1-year Treasury bills yields are above 5 percent, marking the first time a…
> Read MoreThe hot January CPI report bolsters the Fed’s view that inflation will not fall as…
> Read MoreThe scatter plot below compares various stock factor returns for 2022 and 2023, year to…
> Read MoreIn our Commentary 2023 Challenge: Contradiction, we discussed Lance’s recent article, The Technicals Vs. The…
> Read MoreWednesday’s 10-year Treasury auction was met with solid demand. More interestingly, the demand is not…
> Read More