1,316 results found
Daily Market Commentary
At a speech Tuesday night at SMU, Treasury Secretary Scott Bessent threatened currency traders to bet against him on the Japanese yen, claiming, I am the house now, so when we intervene with the Japanese yen, I have pretty good insight into what the Japanese, what the Bank of Japan is going to do, what […]
Daily Market Commentary
Fed Chairman Kevin Warsh’s recent Hawkish Pivot raises a troubling question: is he actually worried about inflation, or is he changing his tune to build the Fed’s inflation-fighting credibility as it tries to stabilize long-term yields? If the latter, he risks making a policy error if he raises rates. At his recent Jackson Hole speech, […]
Invest
Heading into the September 16 FOMC meeting, the debate over whether the Fed should raise rates or hold is heated. To help you appreciate the range of views, we present this article as a courtroom exercise. We will let the prosecution make its case for a rate hike, and the defense make its case for […]
Economics
While the AI bears focus on concentration and circular financing, the last tech overbuild was financed with debt, and this one is being paid for in cash. Before I discuss why I disagree with the “AI bears,” I want to state that I respect their opinions, have evaluated their concerns, and have simply derived a […]
Daily Market Commentary
For those worried about the impact of deficits and inflation on US bond yields, it’s worth taking a trip around the world to get a better picture. Global bond yields for many of the world’s ten largest economies are behaving similarly. Across the Globe, the US, Germany, Japan, France, Italy, and Brazil- seven of the […]
Invest
The S&P 500’s Shiller CAPE ratio just hit 41. Since 1881, the market valuation has been more expensive under CAPE only once. That was during the final months of the dot-com bubble. At the same time the CAPE is ringing warning bells, the PEG ratio, which measures price relative to expected earnings growth, is at […]
Daily Market Commentary
Because Warsh doesn’t believe in forward guidance, Friday’s Jackson Hole speech may be the last window investors get into his thinking before the September 16 FOMC meeting. Accordingly, it’s worth spending more time on his speech to see if Wall Streets verdict agrees with our hawkish take in Monday’s Commentary- Warsh Makes A Hawkish Pivot. […]
Daily Market Commentary
Nvidia reported record fiscal second-quarter results Wednesday with revenue more than doubling year over year to $96 billion. After initially falling on the news, the stock rose over 8% overnight. During the earnings call with analysts, CFO Colette Kress guided Nvidia’s fiscal 2028 revenue to roughly 70% growth. The forecast implies nearly $700 billion in […]
Daily Market Commentary
Starting December 6, 2026, Nasdaq will offer a trading session starting at 9 p.m. to 4 a.m. ET. The new hours, in addition to the standard 9:30 a.m. to 4:00 p.m. ET and current pre- and post-market trading sessions, would extend the exchange’s trading to nearly 23 hours a day, five days a week, from […]