The stock market sent a message to the FOMC today: Cease and desist from any more rate hikes, please. The stock market…
We have been on Wall Street as economists and strategists for more than 40 years. Over that entire period, doomsters have been…
Tomorrow will be May 1. We all know that April showers bring May flowers. There's also an old adage that…
This is another big week for earnings reports, which have been mostly better than expected so far. In addition, the FOMC meets…
Our mantra since the start of the banking crisis on March 10 has been that any day without a banking crisis is…
The good news is that the headline PCED inflation rate fell sharply to 4.2% y/y during March (chart). The bad…
The widely anticipated recession is still MIA. That's one reason why stocks have rebounded smartly since October 12, 2022, which…
Economic growth wasn't as weak as suggested by real GDP which rose only 1.1% (saar) during Q1. During Q4,…
Banks were tightening lending standards before the banking crisis, and the crisis has escalated that. We don’t think a credit crunch…
The S&P 500 fell 1.6% today mostly because First Republic's earnings report reminded investors that the banking…
Why has the stock market been holding up so well so far this year despite lots of pessimism about an impending recession?…
The S&P 500 has been remarkably quiet over the past couple of weeks just below its February 2 high and…
