Bonds

Weekly Market Pulse: A River In Egypt

By |2025-08-04T07:42:26-04:00August 3rd, 2025|Alhambra Portfolios, Alhambra Research, Bonds, Commodities, Currencies, Economy, Markets, Newsletter, Real Estate, Stocks|

When the June employment figures were released last month, I said there was likely a seasonal adjustment problem with the numbers and that a large part of the government jobs supposedly created would likely be revised away. The employment report was reported as better-than-expected but the details weren’t as positive. Of the total of 147k new jobs reported, only 74k [...]

Weekly Market Pulse: The Grand Illusions

By |2025-07-28T07:47:21-04:00July 27th, 2025|Alhambra Portfolios, Alhambra Research, Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Newsletter, Real Estate, Stocks, Taxes/Fiscal Policy|

So if you think your life is complete confusionBecause you never win the gameJust remember that it's a grand illusionAnd deep inside we're all the sameWe're all the same So if you think your life is complete confusionBecause your neighbors got it madeJust remember that it's a grand illusionAnd deep inside we're all the same Styx, The Grand Illusion Money [...]

Weekly Market Pulse: The Lamest of Ducks

By |2025-07-21T07:21:26-04:00July 20th, 2025|Alhambra Portfolios, Alhambra Research, Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Newsletter, Real Estate, Stocks|

Jerome Powell's tenure as the Chairman of the Federal Reserve has ended. Not literally, of course, because apparently Scott Bessent has, for now, talked President Trump out of firing him. But despite that reprieve, there are now several Chairmen of the Federal Reserve, none of them named Powell. He is the lamest of ducks. A lame duck, literally, is a [...]

Weekly Market Pulse: The Return Of Tariff Man

By |2025-07-14T07:40:30-04:00July 13th, 2025|Alhambra Portfolios, Alhambra Research, Bonds, Commodities, Currencies, Economy, Markets, Newsletter, Real Estate, Stocks, Taxes/Fiscal Policy|

Last week President Trump announced, via a letter posted on his social media site, that products from Brazil would face a 50% tariff, starting August 1st, due to their treatment of former President Jair Bolsonaro, who is on trial for trying to overturn his 2022 election loss. The President also cited Brazil's treatment of US social media companies, which the [...]

Weekly Market Pulse: The Crossroads

By |2025-07-07T07:26:15-04:00July 6th, 2025|Alhambra Portfolios, Alhambra Research, Bonds, Commodities, Currencies, Markets, Newsletter, Real Estate, Stocks|

The first half of this year saw a lot of old trends turned upside down. Foreign stocks outperformed US stocks, gold had its best first half performance since 2007 and the dollar its worst start to a year since 1973. It was that year that the Bretton Woods system of fixed exchange rates breathed its last. It had started to [...]

Weekly Market Pulse: Uncertainty Rules Everything Around Me

By |2025-06-30T07:03:13-04:00June 29th, 2025|Alhambra Portfolios, Alhambra Research, Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Newsletter, Real Estate, Stocks, Taxes/Fiscal Policy|

If, at the beginning of the year, anyone had predicted what actually happened in the first half of 2025, they would have been ridiculed and dismissed as delusional. If you were told that... Between January and April, the average US tariff rate will rise from 2.5% to 27% Among the Trump administration's first moves on trade will be to impose [...]

Weekly Market Pulse: The Turkey Leg

By |2025-06-23T06:37:36-04:00June 22nd, 2025|Alhambra Portfolios, Alhambra Research, Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Newsletter, Real Estate, Stocks|

Note: I wrote most of this commentary prior to the US strike on Iran and I decided to go ahead with it anyway. I don't know any more than you do about what is going on in the Middle East and trying to predict what will happen in the coming days and weeks is a fool's errand. We have a [...]

Weekly Market Pulse: The Uncertainty of Uncertainty

By |2025-06-16T09:05:19-04:00June 15th, 2025|Alhambra Portfolios, Alhambra Research, Bonds, Commodities, Currencies, Economy, Markets, Newsletter, Real Estate, Stocks, Taxes/Fiscal Policy|

Oil jumped 7.5% last Friday in the wake of the Israeli attack on Iran but the reaction in most other markets was surprisingly muted. The dollar, which normally catches a bid in these situations, was up just 0.27% and US Treasuries actually sold off on the news. Gold was the preferred safe haven this time, up 1.4% on the week. [...]

Go to Top