Market Commentary

A gradual slowing of stimulus heralds a potential drop for the world’s stock markets, but the evidence suggests a possibility for a positive outcome.

Supply chain issues are worsening, increasing the risk to sales, production, and inflation. European stocks may offer an opportunity to avoid these risks.

Although the prospect of the Federal Reserve tapering its bond purchases has unsettled markets in the past, we expect it to be more orderly this time around.

China’s recent stock market pullback has been in line with the average annual drawdown; historically, this volatility has tended to produce double-digit annualized gains.

Rising Treasury yields, declining commodity prices, and China’s credit pullback darken the picture for EM bonds.

Sentiment has been a problem; higher yields was the catalyst for a bit of a reset.

As quickly as it soared to the moon, GameStop came back down to earth; but the lessons learned are key to turning day trading speculators into longer-term investors.

As a review of the year that was, today’s report analyzes and dissects the nature of the K-shaped recovery in both the economy and stock market.

December brought the first payrolls decline since last April; with leisure/hospitality—and women—bearing the brunt of the weakness. Expect more economic “scarring” to come.