The top two stories in markets in September are the rally in U.S. stocks to record valuations versus the rest of the world according to price to book value and the sell off in long dated U.S. treasuries. Regardless of whether you follow the price to book value, US outperformance is a key theme ofCONTINUE READING
The top two stories in markets in September are the rally in U.S. stocks to record valuations versus the rest of the world according to price to book value and the sell off in long dated U.S. treasuries. Regardless of whether you follow the price to book value, US outperformance is a key theme ofCONTINUE READING
Weakness in real median income is the backbone of the income inequality debate because if median incomes are increasing people don’t care as much about how well the rich are doing. If people have jobs and are getting raises, they aren’t willing to protest. If they are getting real pay cuts, the rich become aCONTINUE READING
The March BLS monthly jobs report was a disappointment in terms of total job creation as only 103,000 were added instead of the 175,000 expected. Furthermore, the report missed the lowest expectation which was for 112,000. It’s important to recognize this is a volatile data point. The February job growth was revised higher from 313,000CONTINUE READING
