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Break the Fed

In what can be best described as a classic western showdown, on one side is the Federal Reserve which is tasked with managing the monetary system, and on the other side are market participants who want to keep the good times rolling. Both gunslingers came prepared, as the Fed is eager to show they can … Read more

Market Brief – Friday 4/29/22

Stocks fell in overnight trading following several earnings misses and poor forward guidance. Treasury yields were slammed higher in overnight trading. Personal Consumption Expenditures, the Fed’s preferred inflation gauge, rose +0.9% in March and +6.6% from this time last year. Excluding food and energy, Core PCE rose +0.3% in March and +5.2% from this time … Read more

Market Brief – Thursday 4/28/22

Stocks surged in overnight trading following a huge move by Facebook following its earnings report yesterday after markets closed. Treasury yields also jumped in overnight trading. Stocks gave back a bit of their overnight gains in early trading while Treasury yields were trying to fade their overnight gains. Initial unemployment claims fell to +180k last … Read more

Market Brief – Wednesday 4/27/22

Stocks started the day slightly higher and after a brief pullback, raced higher. Treasury yields also started the day higher and rose in early trading. Mortgage applications fell -8.3% last week as both purchase and refinance applications were lower. The trade deficit surged in March by -$125.32 billion as imports continue to outpace exports. Retail … Read more

Market Brief – Tuesday 4/27/22

Stocks and Treasury yields fell in overnight trading. Stocks were headed lower in early trading and Treasury yields gave back a little of their overnight decline in early trading. Durable Goods New Orders rebounded by +0.8% in March but missed expectations. Excluding food and energy, Core Durable Goods New Orders rose +1.1%, excluding defense rose … Read more

Market Brief – Monday 4/25/22

Stocks fell in overnight trading after Chinese equities crashed. Treasury yields were also lower on the same news. Stocks and Treasury yields continued to slide in early trading. The Chicago Fed National Activity Index showed the economy expanded at a well above-trend rate for March, although a bit slower than in February. Stocks rallied to … Read more

Rates Can Only Go Up

These are words I have heard my entire adult life. Every time rates drop, a lending professional always encourages me to take out the biggest loans I can, as rates will assuredly never be this low again. For the past forty years, rates continue to fall despite the opinion of many experts that rates can … Read more

Market Brief – Friday 4/22/22

Stocks started the day down slightly and Treasury yields up slightly. The Markit preliminary Manufacturing PMI expanded at a faster rate in April while the preliminary Services PMI expanded at a slower rate in April. The preliminary Composite PMI expanded at a slower rate in April. Stocks closed sharply lower and Treasury yields higher on … Read more

Market Brief – Thursday 4/21/22

Stocks and Treasury yields rose in overnight trading. Initial unemployment claims fell slightly to +184k last week as employers continue to hold onto employees. Total claims fell -88k last week to 1.622 million as unemployed workers have no problem finding jobs. The Philly Fed Manufacturing Index expanded at a slower rate in April to 17.6 … Read more

Market Brief – Wednesday 4/20/22

Stocks rose in overnight trading and in a rare move as of lately, Treasury yields fell in overnight trading. Mortgage applications fell -5.0% last week with both purchase and refinance applications down. Existing home sales fell -2.7% to 5.77 million homes. The Department of Energy reported crude oil inventories as Crude: -8.020mm (+2.471mm expected), Cushing: … Read more