Volatility spiked as U.S. – China trade talks ended without a deal in sight. The S&P closed down 2.1% this week but had been down as much as 3.75% Friday morning. After positive sounding remarks from Treasury Secretary Mnuchin equity markets staged a mid-day comeback to close positive on Friday but…

The S&P and Nasdaq both closed this week at new all-time highs while the Dow is still 320 points off its October high. Equity markets sold off mid-week after Fed chair Powell signaled that they would not be lowering rates. He attributed the recent weakening of the PCE index (the Feds preferred…

Disappointing earnings from 3M, Intel and Exxon Mobil left the Dow in negative territory but upbeat guidance from Microsoft, Facebook and Amazon drove the Nasdaq and the S&P 500 to new all-time closing highs on Friday. U.S. economic data this week showed healthy pickups in new home sales and durable…

    Fixed Income FOMC March Statement     Federal Reserve Dot Plots Dec 18     US Debt Measurement   March Meeting Minutes    US Corporate Debt Tops $6 Trillion  Treasury.gov yields   Global Bond Yields   Foreign Exchange Market   Energy Complex The Baker Hughes rig count lost 10 this week. There are 1012 oil and gas rigs operating in…

Ahead this week, US China trade talks continue as Beijing’s top trade negotiator travels to Washington for more discussions. Expect more volatility in the British Pound £ as the UK Parliament fights off a no-deal Brexit. On the data front, this coming week is full of releases, housing starts, trade…

Global Growth Worries Abound Worries about faltering global growth intensified this week sending the S&P500 lower all five trading days. This marked the worst week of the year as all the major US markets were down over two percent. Among the global worries; China lowered its 2019 GDP growth forecast…

In trade war news, President Trump officially postponed the March 1st deadline with China to reach a trade deal as reports of progress toward a trade deal have emerged. NEC Director Larry Kudlow made comments that the U.S. and China are making “Fantastic” progress in meetings and that China has expressed…

In the shortened trading week, U.S. equities were able to extend their winning streak to nine weeks. Both the Dow and S&P gained 0.60%, the Nasdaq added 0.8% with mid and small caps both up over 1%. Utilities and materials gained 2.4% and 2.3% and led the sectors with tech…

Inching Closer to a Trade Deal Equities climbed higher four out of five days this week. Helping the cause were positive reports on the US/China trade negotiations and Congress averting another Gov’t shutdown. The S&P 500 added 2.5% the Dow gained 3.1%  but it was the small caps that rallied…

Yields Continue to Invert Back to reality this week as the fundamental issues of a slowdown in global growth and a U.S.- China trade deal caused some broad-based buying of Treasuries. The 1 Year US Treasury is now yielding more than the 2,3, 5 or 7-year maturities. Treasuries are pricing in slower…