We don’t think the market has bottomed. We clearly have not priced in a recession – David Spika, CIO GuideStone Capital Management (quoted in “Investors Fear Quick End To Rally” [SUBSCRIPTION REQUIRED], Karen Langley, WSJ B1 Everybody knows it’s a…
You heard it here first: the lows of the year are in. The bear market is not over. That was simply chapter 1. We’re a long way from home. This is a tactical call for the next few months. While…
You don’t want to overdo the rate increases – Fed Governor Christopher Waller, quoted in Nick Timiraos, “Fed Leans Towards Another 75 Point Increase: Consensus Builds Against Larger Boost Despite Worry Over June Inflation Report” [SUBSCRIPTION REQUIRED], WSJ A1, Monday…
On Wednesday afternoon the Fed Minutes for the June meeting were released and they were quite hawkish. For example, on the front page of today’s WSJ Nick Timiraos – The Fed Whisperer – wrote an article titled “Fed Takes Stricter…
After a summer lull in markets, things are about to pick up next week. 2Q22 earnings season kicks off as well as the crucial June CPI Report on Wednesday July 13. Following that is the Fed Decision on Wednesday July…
Chip maker Micron (MU) reported a bad quarter after the close Thursday. While numbers for the quarter ended June 2 were fine, MU’s guidance was quite weak. MU guided revenue to $7.2 billion plus or minus $400 million. The comparable…
Last Thursday The Wall Street Journal’s Greg Ip wrote an excellent column in which he argued that the Fed’s “critical junctures” i.e. hard decisions are still ahead of it. For the most part it’s been relatively easy for Powell to…
The Fed changed its mind – and told The Wall Street Journal’s Fed reporter Nick Timiraos. They were going to raise 50 basis points but after considering last Friday’s hot CPI number they’ve decided to raise 75. They told Timiraos…
As you can see in the green line in the chart above from zerohedge, 7 rate hikes are now priced in through September. That works out to two 50 point hikes and one 75 point hike and would bring the…
We’ve had some additional time after earnings to really evaluate the overall operating environment. We have to be decisive and get out in front of this to make sure this doesn’t linger through the back half of the year –…