Friends Rumors of trouble at Credit Suisse, the large European Bank, helped fueled more selling in bank stocks and stocks in general, but the truth is that Credit Suisse has been a very dubious bank since the great financial crises a decade and a half ago. Also, a...
Friends I hope you were able to join us for our zoom conference call today. For those who were not able to attend we’ve enclosed a link for you to view if you so wish. As for today in the markets, the CPI number came in about as expected....
Friends As mentioned this morning, we will do a zoom conference call tomorrow morning to discuss all that has transpired in the last week in the financial markets. But first I will try to just touch on a couple of items. The government stepped up to back bank...
Friends Where do I start? The non-farm payroll number came in hotter than expected this morning with 311,000 jobs created in February vs. the 205,000 expected. But the unemployment rate rose from 3.4% to 3.6%, and the average hourly earnings month over month increase came in smaller...
Friends As the Fed has been bludgeoning the economy with interest rate hikes and quantitative tightening, market participants have been looking for signs that things are cracking. Today, a huge flair was fired into the air as banks that lend to venture capital firms in silicon valley appear...
Friends Stocks tried to push lower after yesterday’s selloff in response to the Fed Chair’s testimony before Congress, but the sellers seemed to run out of gas as the trading session wore on. Regardless, Friday’s job number and next week’s inflation data will set the tone for traders...
Friends “they stab it with their steely knives, but they just can’t kill the beast.” Eagles sang that line during the song Hotel California back in the day. It can be applied to the Fed and the economy today. Fed Chair Powell and his colleagues have been raising...
Friends It’s going to be a very busy next couple of weeks in the markets and ahead of it all stocks were pretty quiet today. Tomorrow the Fed Chair will be testifying before the Senate Banking Committee. Later in the week we get a very important non-farm payroll number....
Friends On my way home, and I see that the bulls were able to lessen the damage from last week and deliver a couple of good days for stock prices to close out this week. Sentiment is still dreadful, and the Fed still looms as a problem for...
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