Eric Kuby, Chief Investment Officer of North Star Investment Management, writes a weekly commentary on market and economic trends. Here is a sampling of recent commentary:
7 Day Rally
Last Week: The porridge heated up enough to nourish the Goldilocks rally for another week. Stronger than expected economic data from China on Monday and a solid U.S. jobs report on Friday were the bookends to continued perceived progress on the trade front during the week. The S&P 500 [...]
End of Quarter Lyft
Last Week: The previous Friday the market had dropped sharply as the Ten-Year Treasury rate reach a yield less than the Three-Month Treasury rate, stoking recessionary concerns and triggering sell programs. By Monday afternoon, those concerns were old news, and the focus returned to the dovish pivot by the [...]
It’s a Mad Mad Mad Inversion
Last Week: The last six months have certainly been “interesting”. A dramatic rally in January and February recovered about most of the horrific losses of October- December, followed by a brief nasty sell-off to kick off March which quickly reversed into a Mad March bounce which lasted until Friday’s [...]
Mad March Bounce
Last Week: The global bounce-back equity rally resumed, as the S&P 500 posted its best week since November by gaining 2.89%. The narrative remained the same with accommodative monetary policy, subdued inflation, reduced trade tensions, and aggressive stimulus programs in China. The economic data was tepid as durable goods, [...]
Cold Porridge
Last Week: The temperature of the global economic data porridge was cold enough to nudge the stock market pendulum towards risk-off, as the ECB and China both reduced growth forecasts while the U.S. jobs report was downright frigid. Concerns shifted from monetary tightening by the big bad Fed to [...]
The Pendulum Rests
Last Week: Inertia: a property of matter by which it remains at rest or in uniform motion in the same straight line unless acted upon by some external force. With no changes to the narrative to motivate traders, the stock market pendulum has recently found a resting place. Fed [...]
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