Can Share Buybacks and Fed Easing Hold Up the Market?

The ludicrous algos have continued to send share prices higher as central bankers have continued to compete to sound more dovish. But I do not really trust ... Read More»

Under the Veneer of the ‘Unbreakable’ U.S. Consumer

Continuing last week's subject of the momentum in the U.S. economy, the key issue remains consumption, which accounts for 68% of GDP. The fundamental pro... Read More»

Political Pressure is Mounting to End the Share Buyback Bonanza

The base case remains that a US-China trade deal is coming. This should continue to support stock markets for now, helped by the following wind provided by ... Read More»

2019 Market Outlook: The Tightrope of U.S. Earnings

Wall Street remains in corrective mode despite hopes of the normal rally into year-end, with the S&P500 now down 11.6% from the September peak (see foll... Read More»