Weekly Market Pulse: Paging George Katona

By |2021-11-15T09:31:00-05:00November 14th, 2021|Alhambra Research, Bonds, Commodities, Currencies, Economy, Markets, Real Estate, Stocks|

Consumer sentiment hit a decade low last month, falling 6 points from an already low level. The culprit? Inflation, which we learned last week hit a 3 decade high in October. And if the founder of the University of Michigan consumer sentiment survey is right, the next thing we'll see is an economic slowdown. George Katona was a psychologist who [...]

Weekly Market Pulse: Divergence

By |2021-11-08T08:16:35-05:00November 8th, 2021|Alhambra Research, Bonds, Commodities, Currencies, Economy, Markets, Real Estate, Stocks|

Almost all the economic data released last week was better than expected. ISM manufacturing PMI, Redbook retail sales, ISM non-manufacturing PMI (an all-time high), factory orders (headline and ex-transportation), ADP employment, jobless claims (new post-COVID low), non-farm payrolls, the unemployment rate, manufacturing employment, all better than expected. There were some disappointing reports: construction spending was down 0.5%, the trade deficit [...]

Weekly Market Pulse: Growth Scare?

By |2021-11-01T08:01:59-04:00October 31st, 2021|Alhambra Portfolios, Alhambra Research, Bonds, Commodities, Currencies, Economy, Markets, Real Estate, Stocks|

A couple of weeks ago the 10-year Treasury note yield rose 16 basis points in the course of 5 trading days. That move was driven by near-term inflation fears as I discussed last week. Long-term inflation expectations were and are well behaved. I wrote nearly 2000 words last week about that change in inflation expectations and I'm so glad you [...]

Weekly Market Pulse: Inflation Scare!

By |2021-10-25T07:02:26-04:00October 24th, 2021|Alhambra Research, Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Real Estate, Stocks, Taxes/Fiscal Policy|

The S&P 500 and Dow Jones Industrial stock averages made new all-time highs last week as bonds sold off, the 10-year Treasury note yield briefly breaking above 1.7% before a pretty good-sized rally Friday brought the yield back to 1.65%. And thus we're right back where we were at the end of March when the 10-year yield hit its high [...]

Weekly Market Pulse: Perception vs Reality

By |2021-10-18T07:46:11-04:00October 17th, 2021|Alhambra Research, Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Real Estate, Stocks, Taxes/Fiscal Policy|

It was the best of times, it was the worst of times... Charles Dickens, A Tale of Two Cities   Some see the cup as half empty. Some see the cup as half full. I see the cup as too large. George Carlin   The quote from Dickens above is one that just about everyone knows even if they don't [...]

Go to Top