Since the start of 2024, McDonald’s (MCD) stock has fallen 7% while the S&P 500 has risen...
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Bonds Under Pressure Or Stocks Overvalued?
We recently read someone’s take that the graph below decisively points to the “bond...
Hammack: More Pragmatist Then Hawk
At the April 29th FOMC meeting, Cleveland Fed President Beth Hammack and two others (Logan and...
Temporary Jobs: A Good Leading Indicator Gone Bad?
When businesses have concerns about the economy, they often lay off or stop hiring temporary...
Oil Rig Counts Don’t Tell The Whole Story
The graph below shows that the US oil rig count has been slightly declining despite much higher oil...
Nicoletos: AI Makes A Case For Active Strategies
Michael Nicoletos wrote a thoughtful paper titled “The Index Trap,” making a compelling...
Does The Treasury Hold The Next Market Tailwind?
The Treasury General Account (TGA) is effectively the US Treasury’s checking account held at the...
NVDA To CPU Rotation: Durable Thesis Or Crowded Trade?
The semiconductor leaderboard has quietly flipped over the past month, and the NVDA to CPU rotation...
AI Spending Receipts: Four Tech Giants, Four Different Verdicts
Wednesday’s mega-cap tech earnings produced one of the cleaner real-time experiments we’ve...
Powells Coda: Dissension In The Ranks
Presuming Kevin Warsh’s nomination as Fed Chair is approved by the Senate, as is widely...