Overdue and inevitable. The animal spirits driving the bond back-up is all good for stocks.
Donald L. Luskin
It’s Just the Reflation Trade, People!
Monday, February 5, 2018
On the January Jobs Report and the Yield Back-Up
Friday, February 2, 2018
Fake news! Wage growth actually slowed last month, and rising yields don’t mean a tighter Fed.
On the January FOMC
Wednesday, January 31, 2018
The Fed warns of “further” rate hikes – but only because the economy can go “further” too.
Bull Market, Meet Your New Fed
Monday, January 29, 2018
Since TCJA, one new 2018 hike is expected. Stocks and yields agree it’s not a tightening.
150 Million Barrels To Go
Monday, January 22, 2018
US production moves to all-time highs, yet the global petroleum market keeps tightening.
A Year of Upgrades in 16 Days
Tuesday, January 16, 2018
We rest our case that the tax cuts weren’t fully discounted. And they still aren’t.
Tax Reform Has Released the Bulls
Friday, January 12, 2018
P/E ratios may seem high, but policy changes augur much better earnings in the coming years.
On the December Jobs Report
Friday, January 5, 2018
Don’t worry about today’s miss. Or the Fed. We’re miles from full employment.
2018 Outlook: From Denial to Acceptance
Friday, December 29, 2017
The US corporate tax cuts are not fully discounted, and will drive another good year.
Tax Cuts: Smells Like Victory (For Some more than Others)
Monday, December 18, 2017
We answer clients’ questions about winners and losers under the Tax Cuts and Jobs Act.