The Bank of Japan Gets Above Zero – It’s not Enough
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Market Commentary
Weekly Points – March 8th, 2024 – 5 Things to Know in Investing This Week – The Powell Just Hit the Panic Button Issue
This week, Jerome Powell spoke to Congress and was more dovish than he’s been in years. He’s gone from channeling former Fed Chairman, Volker, who crushed inflation with interest rates approaching 20% to sounding like Volker’s predecessor, Arthur Burns, who reduced interest rates before getting inflation under control. We saw weaker than expected job reports, … Read more
February CPI is 3.2%
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CPI Slightly Hot – Details on Way
The CPI came in slightly above expectations. Please check the blog this morning. We’ll have full analysis posted before 9:30am
Weekly Points – March 1st, 2024 – 5 Things to Know in Investing This Week – The Everyone is Wrong and Should Admit it Issue
In December, we produced a version of the 5 Things titled “The Smart People Doing Smart Things Issue”. This time, we’re not so positive. This was a week of people being consistently wrong including Bitcoin bears who refuse to apply a consistent lens for their thesis when it’s not working, Fed doves who keep insisting … Read more
January PCE of 2.4% is Consistent with Expectations
This morning, we got the January Personal Consumption Expenditures (PCE) report. This is the preferred inflation gauge of the Federal Reserve. The PCE was up .3% vs last month and 2.4% vs last year. The Core PCE, which excludes food and energy, was up .4% vs last month and 2.8% vs last year. All of … Read more
4Q ’23 GDP Adjustment Doesn’t Matter – Still Gets Attention
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Weekly Points – February 23rd, 2024 – 5 Things to Know in Investing This Week – The All Nvidia All the Time Issue
At the beginning of the week, we heard the hyperbolic prediction that the Nvidia ($NVDA) earnings report was the most important of all time. That’s ridiculous, and given the reaction of stock markets worldwide, may actually be true. The Fed disappoints investors again and despite Powell saying “higher for longer” for almost two years, somehow … Read more
Weekly Points – February 16th, 2024 – 5 Things to Know in Investing This Week – The Opposite Day Issue
This week, economic data decided to pull a George Costanza and do the opposite of everything it has been doing. DKI has highlighted the trend of inconsistent data in recent months, and this week, many of those inconsistent trends reversed. Confusing? Don’t worry, we’ll explain. We also have some excellent fundamental news from Shockwave Medical … Read more
Weekly Points – February 9th, 2024 – 5 Things to Know in Investing This Week – The Silly People Saying Silly Things Issue
Treasury Secretary, Janet Yellen speaking in public typically leads to her accidentally saying things out loud that confirm the fears of her critics. At the same time, the Bitcoin bears who celebrated a small decrease in the dollar price of Bitcoin last month have gone into hibernation causing quiet in my Twitter/X feed. I believe … Read more
