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Market Brief – Monday 2/28/22

Stocks started the day lower but quickly ramped into the green in early trading. Treasury yields also started the day lower and were holding their overnight decline in early trading. Wholesale inventories rose +0.8% and retail inventories rose, excluding autos, rose +1.7%. The trade deficit hit a new record of -$107.63 billion. The Chicago PMI … Read more

The End of Liquidity

First, it was the Federal Reserve, then the Bank of England, and finally the European Central Bank have announced the end of their Quantitative Easing programs. By the end of March, all three central banks are expected to end their large-scale asset purchase programs, except for the European Central Bank which will only end its … Read more

Market Brief – Friday 2/25/22

Stocks rose in overnight trading but were fading their overnight gains in early trading. Treasury yields rose slightly in overnight trading and were also fading their overnight gains in early trading. Personal Consumption Expenditures (PCE), the Fed’s preferred gauge of inflation, rose +0.6% in January and +6.1% from this time last year. Excluding food and … Read more

Market Brief – Thursday 2/24/22

Stocks crashed in overnight trading as reports of a Russian invasion of Ukraine roiled markets. Treasury yields also crashed lower as investors sought safety. Traders were eager to buy stocks and short bonds at the opening bell as stocks reversed some of their overnight losses and bonds reversed some of their overnight gains in overnight … Read more

Market Brief – Wednesday 2/23/22

Stocks rose in overnight trading on news that tensions were falling between Russia and Ukraine but the optimism was short-lived as stocks nosedived shortly after the opening bell. Treasury yields rose on the same news and gave back some of their increase in early trading but remained higher from yesterday’s close. Mortgage applications fell -13.1% … Read more

Market Brief – Tuesday 2/22/22

Stocks fell in overnight trading and continued falling in early trading. Treasury yields rose in overnight trading but were reversing their overnight gains in early trading. Home prices rose +1.2% in December and +17.6% from this time last year. The preliminary Markit Composite PMI rose to 56.0 in February as both the manufacturing and services … Read more

Powell Didn’t Want To

On January 26, Federal Reserve Chairman Jerome Powell had to make a difficult announcement. At the Federal Open Market Committee’s press conference, Powell announced that Quantitative Easing would end in early March, earlier than expected, and the Fed was likely to announce the beginning of a tightening cycle at its March meeting. For any Fed … Read more

Market Brief – Friday 2/18/22

Stocks started the day slightly higher as investors hoped to reverse yesterday’s dramatic loss. Treasury yields fell in overnight trading after multiple unsuccessful attempts to drive yields even higher. Existing home sales rose +6.7% or 6.50 million units in January. Stocks and Treasury yields closed lower on the day.

Market Brief – Thursday 2/17/22

Stocks and Treasury yields fell in overnight trading as investors were spooked by rising tensions between Russia and Ukraine. Stocks and Treasury yields slid further in early trading. Initial unemployment claims rose +248k last week. Total claims fell slightly to 2.063 million as a sign unemployed workers can find new jobs. Building permits rose +0.7% … Read more

Market Brief – Wednesday 2/16/22

Stocks and Treasury yields fell in overnight trading after reports indicate Russia may not be withdrawing troops. Stocks continued lower and Treasury yields rose in early trading. Mortgage applications continue to decline as they fell -5.4% last week. Retail Sales rose +3.8% in January and +12.96% from this time last year. Excluding food and energy, … Read more