Highlights Bonds As A Safe Haven: Global bond yields have been driven lower by safe haven buying, despite ample evidence of faster global growth and central bankers that are still biased to shift to a less easy policy stance. There is…
Highlights Monetary Policy: A prominent Fed Governor has acknowledged that inflation expectations have become un-anchored to the downside. This is an important signal and suggests that the Fed will keep policy easy enough for inflation…
Highlights Portfolio Strategy A supply/demand imbalance has created a playable opportunity in the niche refining energy sub-index. Increase exposure to overweight. Safe haven demand is supporting gold mining equities, but shifting…
Dear Client, I have been visiting clients in Europe this week, so today's report is somewhat shorter than usual. We will be back next week with an exciting Special Report on the macro effects of bitcoin and other virtual currencies…
Highlights Based on long-term moving averages and the advance/decline line, the dollar selloff is still only a severe correction. These factors need to be monitored closely as they stand on the edge. To rebound, the dollar will need U.…
Highlights Some caution warranted here. Hurricane Harvey's impact on the economy and markets. Tensions in North Korea will linger. NIPA and S&P now telling same story on profits, margins. Is the August employment report…