The markets continue to fixate over the U.S. debt limit saga and ongoing concerns with respect to Greece. Until these issues fade away or investors discover some new theme to chase we expect that the markets are going to remain...
Read MoreWe returned to the 2-year lag argument last week… for a reason. We wanted to lay out the foundation of the argument and show how it had tended to work so that we could take it a step further and apply it to the current...
Read MoreYesterday certainly had a number of cross currents. Some weaker economic news from China led to lower copper prices while encouraging news from Greece sold off the dollar and U.S. bond market. The weekly jobless claims numbers...
Read MoreWe are going to attempt to make a case for two sectors today- tech and the major banks. As usual the journey to our point will be both circular and torturous but… that shouldn’t come as much of a surprise to our regular...
Read MoreThe argument is that oil price strength this year has reflected the removal of roughly 1.5 million barrels per day of Libyan sweet crude. Through June this amounted to a reduction of around 190 million barrels offset this summer...
Read MoreWe are going to quickly run through the relationship between copper, yields, the cyclical trend, and ‘other things’ today. First is a chart of the yield index for 10-year Treasury yields and the ratio between copper futures and...
Read MoreIt feels as if the markets have been in crisis more often than not for much of the past 15 or so months. Greece seems to come and go with North African and Middle Eastern concerns sprinkled in to keep things interesting. Now the...
Read MoreWith the monthly U.S. employment report now in the rear view mirror the next hurdle comes from the raft of quarterly earnings reports that begins with Alcoa after the close of trading today. As usual the key isn’t the actual...
Read MoreWe are going to take another swing at the argument that we put forth earlier this week. To cut to the chase… the idea is that a case can be made for an extremely strong third quarter with the banking shares leading the...
Read MoreWe threw an awful lot at the wall in yesterday’s issue and it was our intention as we started to set up this issue that we would go back over a number of the points in an effort to support and solidify the overall argument....
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