Kuby’s Commentary
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:
Get What You Want & Take What You Need
Last Week: Investors continued getting what they want, as well as what they need, despite some storm clouds forming on the horizon. Stocks rallied to close once again at record levels Friday, with the S&P 500 topping 4,100, as investors ignored concerns about...
This Rally is No Joke
Last Week: The S&P 500 crossed over the 4,000 threshold on April Fools’ Day to set another record, finishing up +1.14%. Small caps were not joking around, with the Russell 2000 gaining +1.46%, and the Tech sector pranked its detractors by bouncing +3.15%. Trading...
Credit is Money
Last Week: The economic data was fairly consistent with expectations, as the Bureau of Economic Analysis estimate of fourth-quarter GDP increased to 4.3% from the last estimate in February of 4.1%. Personal Income declined 7.1% month over month, after jumping 10% in...
$5 Trillion Brick House
Last Week: The Big Bad Bond Market once again bared its jagged teeth, as the yield on the Ten-Year Treasury climbed another 10 basis points to breach the 1.75% level for the first time in 14 months. The stock market showed signs of fear as the Dow and S&P fell...
The Pump is Primed
Last Week: The economic outlook continued to brighten, with the pandemic subsiding and the potent combination of monetary and fiscal policies priming the growth pump. The Big Bad Bond market growled as the 10-year Treasury yield jumped 8 basis points to 1.64%, hitting...
Big Bad Bond Market
Last Week: On Monday all 11 sectors rallied and the S&P posted its biggest daily gain since June, as the combination over the previous weekend of the positive vaccine news from Johnson & Johnson, the approval of the stimulus plan by the House, and a decline of...
Too Much Good News
Last Week: We were often reminded during the recent challenging economic period that the market climbs the wall of worry. The inverse proposition might caution that the market can slide down the chute of good cheer. Following up on our most recent commentary, the...
Arc of Modest Optimism
Last Week: Where are we and where do we go from here? Reflecting on the current status of the economy and markets, I find myself swaying back and forth on the optimism/pessimism pendulum. Although on balance trending more towards the arc of optimism. Certain data...
Rally, Rinse, Repeat
Last Week: In the Kuby’s Commentary version of “Rally, Rinse, Repeat,” we once again report that the market set new record highs, the economic data was mixed, the battle with COVID-19 raged on, and the politicians were mired in debate over the size and scope of...
The Bulls are Back
Last Week: The Bulls are back, and I am not talking about the Chicago Bulls. The stock market rebounded from its brief slump to post its best weekly gains since November, with the S&P 500 bouncing 4.65%. Small cap stocks continued their recent surge, as the...
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Market Commentary by Eric Kuby, Chief Investment Officer of North Star Investment Management