Weekly Market Pulse: Never Mind

By |2021-06-20T20:37:05-04:00June 20th, 2021|Alhambra Research, Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Real Estate, Stocks|

I thought of Gilda Radner this past week. Actually I thought of a character she created on the original Saturday Night Live, Emily Litella, who was a regular on the Weekend Update segment. She'd start to rant about something topical, getting it completely wrong at which point Jane Curtin or Chevy Chase would explain it to her and she'd respond. [...]

Weekly Market Pulse: Who’s The Boss?

By |2021-06-14T08:26:10-04:00June 13th, 2021|Alhambra Portfolios, Alhambra Research, Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Real Estate, Stocks, Taxes/Fiscal Policy|

I told you last week that there were strange things going on in the labor market but I had no idea how much of an understatement that really was. Much of last week's economic focus was on the inflation report but I think the JOLTS report may turn out to be more significant. Inflation was indeed pretty hot year over [...]

Weekly Market Pulse: Looking For Workers In All The Wrong Places

By |2021-06-07T07:14:58-04:00June 6th, 2021|Bonds, Commodities, Currencies, Markets, Real Estate, Stocks|

We got another disappointing employment report last week. Well, that's what everyone said anyway, that the complete WAG by the BLS that the US economy added 559,000 jobs in May was below expectations and disappointing. I suppose it is a tad disappointing but I find it hard to lament the fact that a half-million Americans found jobs last month. There [...]

Weekly Market Pulse: Where’s That Confounded Boom?

By |2021-06-01T07:01:47-04:00May 31st, 2021|Alhambra Portfolios, Alhambra Research, Bonds, Commodities, Currencies, Markets, Real Estate, Stocks|

The US economy is still stuck in the stall it's been in since early spring. Sometime in mid-March everything just seems to have gone into suspended animation. Interest rates and the copper/gold ratio stopped rising. Real interest rates (TIPS) stopped rising. The US dollar started falling. But nothing has fallen so far as to warrant concern about a double-dip recession. [...]

Weekly Market Pulse: The Crypto Distraction

By |2021-05-24T07:28:03-04:00May 23rd, 2021|Alhambra Portfolios, Alhambra Research, Bonds, Commodities, Currencies, Markets, Real Estate, Stocks|

It was hard not to hear about cryptocurrencies last week what with the bear market and all. Actually, you can make the case that bitcoin has had two bear markets since mid-April. There was a 27% decline followed by a 27% rally, followed by last week's rout. From its intraday peak in April to its intraday low last week, bitcoin [...]

Weekly Market Pulse: Bonds Didn’t Get The Inflation Memo

By |2021-05-17T08:30:54-04:00May 16th, 2021|Alhambra Research, Bonds, Commodities, Currencies, Economy, Markets, Real Estate, Stocks|

It was all over the news last week. Inflation has arrived. The CPI was hotter than expected. The PPI was even hotter. Import prices were up and export prices were up more. It was impossible to miss the inflation story last week. Stocks got the message and sold off on the hot CPI and finished the week lower for a [...]

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