“We do not seek or welcome further cooling in labor market conditions.” – Jay Powell Federal Reserve Chairman Powell declared in his Jackson Hole address that “the time has come
Weekly Review & Outlook: August 19, 2024
July inflation data came in mostly in-line with expectations. Retail sales surprised higher while Industrial Production and Housing Starts reflect economic weakening. Equity markets responded by rallying risk assets with
Weekly Review & Outlook: August 12, 2024
PMI data shows the economy continuing to expand in July led by the Services sector. Banks stocks seem to have found near-term support after the historic July rally. I look
Weekly Review & Outlook: August 5, 2024
The Federal Reserve Open Market Committee (FOMC) maintained its restrictive policy rate and Quantitative Tightening (QT) in its July 31 policy statement. Chairman Jay Powell repeatedly referenced more balanced risks
Weekly Review & Outlook: July 29, 2024
A second full week of bank earnings reports confirmed earlier trends. In a stark reminder that markets are only semi-efficient, the resulting bank stock rally is the strongest single month
Weekly Review & Outlook: July 15, 2024
June consumer inflation cooled from May. The first handful of banks reporting 2nd quarter results showed continued evidence of system stability. The June Consumer Price Index (CPI) report (July 11)