Commodities

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. [...]

Weekly Market Pulse: Time Out

By |2025-06-02T07:15:58-04:00June 1st, 2025|Alhambra Portfolios, Alhambra Research, Bonds, Commodities, Currencies, Economy, Markets, Newsletter, Real Estate, Stocks, Taxes/Fiscal Policy|

The tariff rollercoaster continues. This week most of President Trump's tariffs were ruled to be outside the scope of the law he used to impose them. I was not surprised in the least because, as I wrote a few weeks ago, I actually took the time to read the International Emergency Economic Powers Act and the word tariff doesn't even [...]

Weekly Market Pulse: A Commodity Bull Market?

By |2025-05-27T07:04:47-04:00May 26th, 2025|Alhambra Portfolios, Alhambra Research, Bonds, Commodities, Currencies, Economy, Markets, Newsletter, Real Estate, Stocks|

In commodity markets there's an old saying that low prices cure low prices and high prices cure high prices. High prices lead to over-investment in new capacity which leads to gluts and low prices. Low prices restrain investment which leads to shortages and high prices. It's the boom and bust nature of commodity markets although the time it takes between [...]

Weekly Market Pulse: No Free Lunches

By |2025-05-19T09:07:45-04:00May 18th, 2025|Alhambra Portfolios, Alhambra Research, Bonds, Commodities, Currencies, Economy, Markets, Newsletter, Real Estate, Stocks, Taxes/Fiscal Policy|

Moody's Ratings downgrades United States ratings to Aa1 from Aaa; changes outlook to stable New York, May 16, 2025 -- Moody's Ratings (Moody's) has downgraded the Government of United States of America's (US) long-term issuer and senior unsecured ratings to Aa1 from Aaa and changed the outlook to stable from negative. This one-notch downgrade on our 21-notch rating scale reflects [...]

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