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Bullish Individual Investor Sentiment Fades Fast
Posted by George Smith, CFA, CAIA, CIPM, Portfolio Strategist Thursday, August 17, 2023 The latest weekly data from the American Association of Individual Investors (AAII) showed that individual investor sentiment plummeted over the last week from fairly bullish to pretty neutral as the market and economic environment so far in August caused bulls to disappear and […]
August 17, 2023
Yield on the Rise—Too Much Too Fast?
Posted by Adam Turnquist, CMT, VP Chief Technical Strategist Friday, August 18, 2023 Key Takeaways: Treasury yields are beginning to resemble the popular Cliff Hanger game on the “Price is Right” television show—how high can they go before the game is over for equity markets? Considering stocks bottomed at nearly the same time longer duration yields […]
August 18, 2023
China Concerns Send Hong Kong’s Stock Index Into a Bear Market
Posted by Jeffrey Buchbinder, CFA, Chief Equity Strategist Tuesday, August 22, 2023 Additional content is provided by John Lohse, CFA Key Takeaways Investors are growing increasingly cautious over China’s problematic economy. Those fears have been wreaking havoc on the HSI where many large Chinese-incorporated companies list their shares for foreign investors. As of August 21, the […]
August 22, 2023
All AIs on Big Tech
Posted by George Smith, CFA, CAIA, CIPM, Portfolio Strategist Thursday, August 24, 2023 Additional content provided by Kent Cullinane, Analyst After having its price targets ratcheted up seemingly on a daily basis, much was riding on the NVIDIA’s (NVDA) earnings report following yesterday’s close. The company didn’t disappoint and reported sales and earnings results that blew […]
August 24, 2023
Navigating Under Cloudy Skies
Posted by Jeffrey J. Roach, PhD, Chief Economist Tuesday, August 29, 2023 Key Takeaways: Introduction Chairman Powell closed out his speech at last week’s Jackson Hole Symposium with a whimsical, yet fitting analogy for setting monetary policy. He said the Fed is “navigating by the stars under cloudy skies.” The markets are getting comfortable with a […]
August 29, 2023
A Look at Stock Valuations Relative to Bonds
Posted by Jeffrey Buchbinder, CFA, Chief Equity Strategist Wednesday, August 30, 2023 Key takeaways What is the ERP? Let’s start with the basics. We can measure the relationship between stock and bond valuations by comparing earnings yields to bond yields, giving us the so-called equity risk premium (ERP). The earnings yield is simply the inverse of […]
August 30, 2023
Slightly Scary September Seasonals for Stocks
Posted by George Smith, CFA, CAIA, CIPM, Portfolio Strategist Thursday, August 31, 2023 As a rollercoaster August for the markets draws to a close with what looks to be a monthly loss for the S&P 500 Index, we look at what clues seasonality data may give us for stock market performance during September and the rest […]
August 31, 2023
The High Yield Market Is Not Properly Reflecting Deteriorating Fundamentals
Posted by Lawrence Gillum, CFA, Chief Fixed Income Strategist Wednesday, September 6, 2023 A few months ago we asked the question (blog post here): Has the corporate credit market lost its mind? At the time we were perplexed by the continued resilience and outperformance of the Bloomberg U.S. Corporate High Yield Index despite the increase in downgrades […]
September 6, 2023