Does It Count?
July 08, 2016
What would appear to be a “blowout” employment report in the US on Friday created a favorable environment for risk assets, but carried with it a footnote.
Don’t Delude Yourself
July 01, 2016
The story does not end here. After the tumult unleashed last Friday with the UK referendum indicating a desire to exit from the European Union, the financial markets experienced more gyrations.
“Should I Stay Or Should I Go Now?”
June 16, 2016
…. If I go there will be trouble, and if I stay it will be double.” The lyrics from this aptly named song “Should I Stay or Should I Go” released in 1982 by the English rock band The Clash might as well be the theme of the markets this week.
Twitter Can’t Pay For That Kind of Advertising
June 10, 2016
You know we are in a different media world when newspapers and television news channels alike are filling their content void with discussion on this week’s iconic tweets.
People Are People
June 03, 2016
We all know that people (and markets) tend to have short memories and, thus, repeat the mistakes of the past. But are we already back there again?
It’s Been A Crude Story This Week
May 27, 2016
Oil prices hit the $50 mark after almost doubling from near $27 per barrel earlier this year in February.
Boo! Yellen spooks the bond market
May 23, 2016
The US Fed spooked markets a bit this week when the minutes from their latest meeting suggested that perhaps June is on the table for the next Fed hike.
America has got gas. Lots of it.
May 13, 2016
According to the most recent U.S. Energy Information Administration (EIA), natural gas inventories were 49% higher than a year earlier and 47% higher than the previous five year (2011-2015) average.
In With A Bang And Out With A Whimper
April 29, 2016
That is how the expectations for US economic activity went in the first quarter….again.
What Is Right Is Not Always Popular
April 11, 2016
You can feel it around the world – people are mad.
Japan is Tankan, US employment looks good, and Saudis make headlines.
April 05, 2016
Confidence is “tanking” in Japan, The jobs report in the United States showed some good news, And the Saudis made headlines as Deputy Crown Prince Mohammed bin Salman gave a basic outline of strategy as the kingdom moves forward with an initial public offering (IPO) of Aramco.
Decisions, decisions
March 18, 2016
This week there were a host of decisions from the world’s central bankers.
Everything And The Kitchen Sink
March 14, 2016
That’s the only way to describe the ECB’s strategy in the decision this week to increase the amount of monetary support they are offering their economy.
We Live In A Nominal World
March 07, 2016
It is important to remember that we live in a nominal world. It is easy to forget that as the talk in economic circles focus on the “real” metrics, after adjusting for inflation.
What else have they got?
February 26, 2016
That is the question that continues to come up in our discussions with investors as we have talked about the chink in the armor of central banks’ after the recent Japan experience
There Is A Chink In The Armor
February 16, 2016
In a post-crisis world, central bankers have been the super heroes swooping in to snatch potential victims from an unseemly fate. However, recent market activity suggests that some are starting to question the “super” powers central bankers really have.
Some Food For Thought
February 05, 2016
Eyes turn toward another data point in the US this weekend: the Super Bowl. Notoriously superstitious, equity market traders look for every kind of insight imaginable to try to get an edge including this event.
It’s not all negative out there…
February 01, 2016
The Bank of Japan (BoJ) gave a boost to the market’s animal spirits with an unanticipated cut to the deposit rate on excess cash held above required reserves to a negative interest rate.
First Week Of 2016 Is Full Of Macro Matters
January 11, 2016
Macro matters. That has been the case since the global financial crisis and the first week of 2016 sought to remind us of that fact. These first days of the year seemed an onslaught of information which heaped onto the pile of stress for financial markets.
Fed to Raise Rates in December?
November 30, 2015
Macro data this week further builds the case for the Fed to raise rates in the middle of December.
Is the carousel coming back around?
November 13, 2015
Here it comes again. The headlines of anti-austerity in the periphery of Europe are back in the newspapers.
Gift for US Savers in December?
November 06, 2015
Odds are higher that US savers get a little gift in December.
Let’s Make a Deal…
October 30, 2015
US politicians were this week’s contestants on Let’s Make a Deal…
The news is neither too good or too bad, but just right…for now.
October 16, 2015
Are we back to where the market wants newly released economic information to thread the needle between “too good” and “too bad”?
If you miss a day in these markets, you can miss a lot (of return)
October 09, 2015
Markets have bounced higher as we enter the final quarter of the year.
Where have all the good job gains gone?
October 05, 2015
After a wage report earlier this week that showed incomes in the US increasing 3.2% year-over-year, the jobs report released this morning was a bit more disappointing.
More Questions Than Answers This Week?
September 18, 2015
Boy, we wish the Fed would have gone ahead and raised rates. Instead we get to compound question on question.
Decisions, decisions
September 08, 2015
This week we received the last major data point before the Federal Reserve meets on September 16th to determine whether they will raise the Fed Funds rate for the first time in about 10 years.
Rock’em Sock’em Week
August 31, 2015
What is there to say when there is too much to talk about? Stock market gyrations are clearly the focus of the week and nearly overshadows much of the macro data points that were also announced…at least in the minds of traders.
Update on Global Equity Correction
August 25, 2015
It is during these times that we rely on our investment process and the work our team dedicates to studying risk, asset allocation, and corporate fundamentals.
Update on Emerging Asia
August 18, 2015
Similar to many countries, China has faced its fair share of economic challenges. The shift away from the old growth model of exports and fixed asset investment towards services and consumption has caused economic growth to understandably decline from high rates in the past.
Update on the MLPs and the Current Dislocation
August 14, 2015
Since the inception of Edge we have been investors in infrastructure, including energy infrastructure master limited partnerships (MLPs) with a specific focus on midstream.
Weekly Update – 7/24/2015
July 28, 2015
Earnings matter, reacting to expectations in the short-run and creating value in the long-run.
Weekly Update – 7/10/2015
July 13, 2015
This week leaves the question open of whether the tide has turned.
Weekly Update – 7/3/2015
July 07, 2015
Who sets off bigger fireworks this weekend, the Americans or the Greeks?