Jerome Powell wants everyone to know that he's read Paul Volcker's autobiography, "Keeping At It". He has used this phrase repeatedly since Jackson Hole, apparently believing that he needs to channel Mr. Volcker's gruff demeanor in order to get markets to do what he thinks they should do. He and others on the FOMC were not pleased with the stock [...]
I'll save the epiphany for the end. QE can work when the Fed is the buyer of last resort and then interest rates slowly go down. The market breathes a sigh of relief and the country can go about their business. But that's not what has happened in this country, especially since Q1 2020. By no means would I ever [...]
The stock market is a volatile, uncertain place right now. Alhambra CEO Joe Calhoun describes the Big Risks for S&P 500 investors and the future of passive investing.
Is the Fed Pushing Stocks down? Doug Terry, head of Alhambra Investment Research, answers the question.
Is the economy contracting? Alhambra's Steve Brennan poses that question to CEO Joe Calhoun.
Alhambra's CEO talks about last week’s disastrous market and the spike in interest rates, similar to what we saw in June, and the coming recession.
Where are interest rates and inflation going? Alhambra CEO Joe Calhoun answers that question.
The S&P 500 fell 4.8% last week and is now down 19.4% year-to-date. Bonds were also down with yields up all across the yield curve. Gold was down 2.5% and the GSCI commodity index was down 2.3%. Rate-sensitive REITs were down nearly 6%. The list of what went up last week would be quicker: the dollar, platinum, silver, and some [...]
Monthly closing price for SPY on the 1st day for the month from 2 years prior to a market high to 3 years after that top. The data points are indexed to the starting point 24 months before the market top. I know, I know, it's different this time. It's always different. Different is not a relative measure of anything. [...]
Where are interest rates going? Doug Terry, Alhambra's Head of Investment Research, offers his thoughts.
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