Foreigners bought a record amount of equities in May.... Read More
People are responding to the news of rising and falling case counts, often taking matters into their own hands before state governors make decisions on shutdowns.... Read More
The Fed's iron grip on the fixed income market remains as strong as ever. Low volatility and range-bound trading continue.... Read More
The concentration in the stock market is now at half-a-century extremes.... Read More
Investors that use funds are not flowing into the equity market as the historic market gyrations of the last several months have not changed their patterns. They are, however, flying into ETF that the Fed is purchasing, preferring to co-invest with the Fed. Stock flows are now the domain of short-term retail traders.... Read More
Lately, the news for Trump's re-election has not been good. Wall Street is now thinking Biden will win. The data indeed shows that Trump is behind. But his deficit is not as much as generally perceived, and nascent signs are showing Trump might be bottoming. ... Read More
A better than expected 4.8 million jobs were added back in June. The unemployment rate dropped to 11.1%.... Read More
The Fed believes their security purchase programs are temporary. They are scheduled to end on September 30, but many investors believe these programs will be extended into 2021.... Read More
A look at the maturity schedule of the Fed's balance sheet... Read More
The markets are caught between two powerful forces, a virus that appears to be picking up speed once again and fiscal/monetary support that appears to be unlimited. Which side prevails in this scenario?... Read More
Last week Jim sat down with the Alpha Trader podcast hosts Aaron Task and Stephen to Discuss the economy and the Fed... Read More
New daily infection counts have started rising in parts of the country. The markets have been slow to respond to this development, focusing instead on the Fed's massive stimulus and a belief that additional shutdowns will not be needed.... Read More
As the economy re-opens, infection counts keep spiking. What should be expected next?... Read More
Yesterday Chairman Powell again hinted at the Fed put, a message which retails traders have heard loud and clear.... Read More
Updating the latest on COVID's infection growth... Read More
Market dynamics are changing. They need to be understood and not dismissed.... Read More
Volatility usually requires a couple elements. First, there must be some event that causes traders to rethink pricing. Second, there must be a large number of trades on the wrong side of this repricing. While fears of a second wave may be providing some of the impetus for a selloff, the massive bets being made by the retail crowd are exacerbating the moves.... Read More
