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Market Brief – Monday 1/31/22

Stocks rose in overnight trading and continued higher in early trading. Treasury yields also rose in overnight trading and were holding their overnight move in early trading. The Chicago PMI showed the Chicagoland manufacturing sector expanded at a faster rate in January as the index rose from 64.3 to 65.2. Stocks closed sharply higher and … Read more

Investors are Mispositioned, Again

Despite mountains of evidence and ample warning, investors are mispositioned ahead of the Federal Reserve’s accelerated tapering plans. On January 13, the New York Fed announced its new purchase schedule to start on Friday, January 14th that will reduce its total purchases of U.S. Treasury and Mortgaged-Backed Securities to $60 billion per month, which is … Read more

Market Brief – Friday 1/28/22

Stocks started the day flat and were volatile in early trading. Treasury yields started the day higher and were down from their early highs in early trading. The Personal Consumption Expenditures (PCE) price index rose +0.4% in December and +5.8% from this time last year. Excluding food and energy, Core PCE rose +0.5% in December … Read more

Market Brief – Thursday 1/27/22

Stocks started the day higher after a volatile overnight trading session. Treasury yields started the day lower and reversed all of yesterday’s gains in overnight trading. Stocks were trading slightly lower and Treasury yields lower in early trading. Initial unemployment claims fell to +260k last week. Total claims rose +8.4k to 2.140 million Durable goods … Read more

Market Brief – Wednesday 1/27/22

Stocks shot higher in overnight trading as investors bet on a dovish tightening from the Fed today. Treasury yields were up slightly in overnight trading as investors continue to bet on higher inflation leading to higher interest rates. Mortgage applications fell -7.1% last week as purchase and refinance applications fell. The preliminary trade deficit data … Read more

Market Brief – Tuesday 1/25/22

Stocks started the day sharply lower again and were down in early trading despite buyers attempting to buy the dip again. Treasury yields rose in overnight trading and were flat in early trading. Home prices rose +1.1% in November and +17.5% from this time last year. The Conference Board Consumer Confidence Survey fell slightly to … Read more

Market Brief – Monday 1/24/22

Stocks fell in overnight trading and were crushed in early trading. Treasury yields fell in overnight trading and were holding their declines in early trading. The preliminary Markit Manufacturing PMI indicates the manufacturing sector is expanding at a slightly slower rate in January. The preliminary Markit Services PMI indicates the services sector is expanding at … Read more

The Bulls Keep Running

The announcement of a balance sheet taper sent equity buyers into overdrive as they aggressively bought every dip in stocks regardless of the news flow. The relentless bid has propelled stocks to new all-time highs without any regard to the next round of tapering coming from the Federal Reserve coming mid-January. While the Fed has … Read more

Market Brief – Friday 1/21/22

Stocks started the day lower but after a volatile morning, were even on the morning. Treasury yields started the day lower and after a big move down, sellers came back in to push yields back higher from their intra-morning lows. Stocks sharply lower on the day and Treasury yields closed lower on the day.

Market Brief – Thursday 1/20/22

Stocks started the day higher and bolted higher in early trading as investors sought to reverse yesterday’s drop. Treasury yields fell in overnight trading and were holding their overnight decline in early trading. Initial unemployment claims rose +286k last week. Total claims rose +180k to 2.128 million. The Philly Fed Manufacturing expanded at a faster … Read more