Stocks soar despite anemic GDP

As the first quarter ends Friday we see that while sentiment has exploded, economic growth is muted. On Thursday the feds released the third revision (not the final revision since it will be changed again and again) of GDP for the final quarter of 2016 and the year. The latest revision of Q4 showed growth […]

Brexit means entering the bond market

The equity market churn with a volatility that’s almost nonexistent is creating huge moves in the bond pits. As stocks move in a range for the last week or so and the VIX moving toward single digits, the 10-year note is trading at 2.3%. This is about where it was right after the election when […]

Prime Minister May signs EU divorce papers

British Prime Minister Theresa May signed the EU divorce papers on Tuesday. Brexit has officially begun as foreign exchange response seems to be muted as both the pound and euro traded off slightly against the dollar. US equities and bonds were also nonplussed by the much-anticipated move by the Brits. City of London bankers from […]

Madoff claims another victim

The Bernie Madoff victim list continues to grow as Charles Murphy committed suicide in Midtown Manhattan Monday evening. Murphy, 56, who ran Fairfield Greenwich a hedge fund with more than $14 billion in assets under management in 2008 prior to the Madoff Ponzi scheme scandal imploding, was found on a fourth-floor terrace of the luxury […]

Trump’s spring will provide no breaks after ObamaCare fiasco

After Friday’s fiasco on the ObamaCare vote I believe we will see the beginning of the Trump dump. This may take equity markets down as much as 20% from the post-election highs as a “Do-Nothing” Congress stymies the White House at any move. Congress will want tax cuts, but not this year. They want those […]

Markets running a fever (chart) over health care vote

The health care debate will rule the news cycle today as well as equity markets. The repeal of ObamaCare has become a proxy for the Trump Administration’s ability to get other meaningful measures accomplished this year including tax cuts across the board. Look for another sell off Like Thursday’s close in stocks should the Trump […]

Lampert’s retail experiment implodes. Sears down 93% under his leadership

Hedge fund titan and failed retail exec Eddie Lampert finally admitted Wednesday what I have been saying for some time, Sears & Kmart are in trouble and may not make it. Lampert, in an annual filing said,  that “substantial doubt exists” about [Sears] ability to continue as a “going concern.” Meaning a bankruptcy filing could […]