Credit Risks Trump Inflation Concerns
Written by Michael Lebowitz and Lance Roberts | Mar 24, 2023 | Daily Market CommentaryCourtesy of BofA, the survey results below show that professional money managers are now more conce...
> Read MoreDaily Market Commentary
Pause and Pivot or Full Steam Ahead?
Written by Michael Lebowitz and Lance Roberts | Mar 23, 2023 | Daily Market CommentaryYesterday's FOMC meeting was likely one of the toughest for the Fed in a long time. As we have writ...
> Read MoreThe Silent Bank Run
Written by Michael Lebowitz and Lance Roberts | Mar 22, 2023 | Daily Market CommentaryLong before Silicon Valley Bank failed, the banking sector was experiencing a silent bank run. Unli...
> Read MoreUBS Bank Bailout of Credit Suisse May Open Pandora’s Box
Written by Michael Lebowitz and Lance Roberts | Mar 21, 2023 | Daily Market CommentaryThe Silicon Valley Bank failure, originally considered a one-off event, is escalating and spreading...
> Read MoreExpect the Fed to Follow ECB’s Lead This Week
Written by Michael Lebowitz and Lance Roberts | Mar 20, 2023 | Daily Market CommentaryThe FOMC will announce its Fed Fund's rate policy decision this Wednesday. Given the recent events ...
> Read MoreFed Mandates or Financial Stability
Written by Michael Lebowitz and Lance Roberts | Mar 17, 2023 | Daily Market CommentaryHeading into next week's FOMC meeting, the Fed's big dilemna is whether to address recent financial...
> Read MoreCredit Suisse Bank is Next on the Docket
Written by Michael Lebowitz and Lance Roberts | Mar 16, 2023 | Daily Market CommentaryShares of Credit Suisse and other large European banks traded sharply lower yesterday. This occurs ...
> Read MoreRate Pivot or Higher For Longer
Written by Michael Lebowitz and Lance Roberts | Mar 15, 2023 | Daily Market CommentaryLess than a week after Jerome Powell was pounding the table on Capitol Hill, arguing the Fed must s...
> Read MoreBTFP The Latest Bank Bailout
Written by Michael Lebowitz and Lance Roberts | Mar 14, 2023 | Daily Market CommentaryOn Sunday afternoon, the Fed and Treasury rode the rescue with the Bank Term Funding program, BTFP,...
> Read MoreSilicon Valley Bank Default Rattles the Markets
Written by Michael Lebowitz and Lance Roberts | Mar 13, 2023 | Daily Market CommentaryBanking is relatively simple, they raise deposits and lend money. To do so successfully, a bank mus...
> Read MoreDelinquent Consumer Loans on the Rise
Written by Michael Lebowitz and Lance Roberts | Mar 10, 2023 | Daily Market CommentaryThe chart below showing delinquent consumer loans is concerning but misleading. At first blush, the...
> Read MoreTightening Phase 2, More QT?
Written by Michael Lebowitz and Lance Roberts | Mar 9, 2023 | Daily Market CommentaryOver the last twelve months, the Fed has been tightening policy at its most aggressive pace in over...
> Read MoreBank Profit Margins At Risk
Written by Michael Lebowitz and Lance Roberts | Mar 8, 2023 | Daily Market CommentaryThe yield curve is often used as a proxy for bank profit margins. The logic is that banks tend to b...
> Read MoreBullish 0DTE Bets
Written by Michael Lebowitz and Lance Roberts | Mar 7, 2023 | Daily Market Commentary0DTE options are speculative option trades that expire within a day of expiration. Furthermore, and...
> Read MoreRent Burden, An Economic Tax
Written by Michael Lebowitz and Lance Roberts | Mar 6, 2023 | Daily Market CommentaryPer a recent Yahoo article: "The average American renter is now paying more than 30 percent of thei...
> Read MoreISM Survey Avoids Sounding the Recession Alarm
Written by Michael Lebowitz and Lance Roberts | Mar 3, 2023 | Daily Market CommentaryThe graph below shows that a sub-45 reading on the ISM manufacturing survey index has accompanied n...
> Read MoreHome Purchase Index Drops to 25+ Year Low
Written by Michael Lebowitz and Lance Roberts | Mar 2, 2023 | Daily Market CommentaryWednesday's Home Purchase Index fell sharply to the lowest level since 1995. The index compiled by ...
> Read MoreStaples or Discretionary Stocks?
Written by Michael Lebowitz and Lance Roberts | Mar 1, 2023 | Daily Market CommentaryConsumer staple companies typically include companies that sell essential goods. As such, earnings ...
> Read MoreApartment Rents Will Dampen Inflation
Written by Michael Lebowitz and Lance Roberts | Feb 28, 2023 | Daily Market CommentaryHousing comprises almost 40% of CPI, of which rents account for about three-quarters of that amount...
> Read MoreGerman Economy Slips, Will The U.S. Follow?
Written by Michael Lebowitz and Lance Roberts | Feb 27, 2023 | Daily Market CommentaryGerman economic growth in the fourth quarter was revised lower to negative 0.4%. More concerning, G...
> Read MoreCorporate Bonds Have No Recession Fears
Written by Michael Lebowitz and Lance Roberts | Feb 24, 2023 | Daily Market CommentaryTuesday's Commentary led with a discussion of equity valuations and margins. Both are well above a...
> Read MoreNatural Gas Prices Plummet
Written by Michael Lebowitz and Lance Roberts | Feb 23, 2023 | Daily Market CommentaryIn mid-August, the price of natural gas peaked at $9.33. Forecasts for a cold winter here and in Eu...
> Read MoreMargins and Valuations Put Stocks at Risk
Written by Michael Lebowitz and Lance Roberts | Feb 22, 2023 | Daily Market CommentaryThese days the financial media spends a lot of effort linking the Fed's future actions with the dir...
> Read MoreHigher for Longer Spurs the Dollar
Written by Michael Lebowitz and Lance Roberts | Feb 21, 2023 | Daily Market CommentaryAs we share in a section below, it is becoming more evident the Fed intends to raise the Fed Funds ...
> Read MoreCrypto Is Coming Back To Life
Written by Michael Lebowitz and Lance Roberts | Feb 17, 2023 | Daily Market CommentaryBitcoin and other cryptocurrencies rose over 10% on Wednesday. Per the graph below, Bitcoin, the mo...
> Read More5 Percent Yields Incentivize Cash Allocations
Written by Michael Lebowitz and Lance Roberts | Feb 16, 2023 | Daily Market Commentary6-month and 1-year Treasury bills yields are above 5 percent, marking the first time a Treasury yie...
> Read MoreHot Inflation Print Affirms Fed’s Stance
Written by Michael Lebowitz and Lance Roberts | Feb 15, 2023 | Daily Market CommentaryThe hot January CPI report bolsters the Fed's view that inflation will not fall as rapidly as they ...
> Read MoreMeme Stocks For 2023?
Written by Michael Lebowitz and Lance Roberts | Feb 14, 2023 | Daily Market CommentaryThe scatter plot below compares various stock factor returns for 2022 and 2023, year to date. The w...
> Read MoreEconomic Confusion
Written by Michael Lebowitz and Lance Roberts | Feb 13, 2023 | Daily Market CommentaryIn our Commentary 2023 Challenge: Contradiction, we discussed Lance's recent article, The Technical...
> Read More10 Year Treasury Auction Sees Great Demand
Written by Michael Lebowitz and Lance Roberts | Feb 10, 2023 | Daily Market CommentaryWednesday's 10-year Treasury auction was met with solid demand. More interestingly, the demand is n...
> Read MoreALSO READ
