The Japanese stock market has lagged the rest of the developed world. A giant equity bubble popping in the 1990s, an unwillingness to embrace change, and the lack of a large passive ETF market have all contributed to the 30-year drought.... Read More
So do investors see this rise in rates as a healthy reflation or worrisome inflation? For now, the reflation narrative is winning. We expect the inflation narrative to take over later this year.... Read More
Bank lending as a percentage of assets recently hit an all-time low.... Read More
The Fed is preventing the natural counter-balance of money rushing out of bonds during stock rallies. The idea that the Fed is backstopping the market has reduced the perception of risk.... Read More
Although house prices have risen markedly in the past six months, a few cities across the U.S. have yet to regain their pre-2006 levels in home prices.... Read More
While the pace of vaccinations is ramping up across the globe, these programs are still in their early stages. Israel should provide the first real data point on herd immunity goals. Infection rates are peaking, but this may be due to weather changes more than vaccinations.... Read More
Two conclusions can be true at once. The market can be exhibiting signs of mania. At the same time, this new group is disrupting Wall Street and not going away. Similar disruptions happened in newspaper, taxi, hotel, retail, and communication industries. Now the financial markets appear to be taking their turn.... Read More
Why the Treasury is borrowing much less this quarter and why borrowing might boom this summer... Read More
Many experienced financial professionals are warning the retail revolters that this will end in tears. We share this sentiment as well. But we are not yet sure which group will bear the brunt of the losses.... Read More
Retail investors continue to set new options volume records and many stocks are undergoing a short squeeze.... Read More
Lower interest rates helped increase the Fed's remittances to the Treasury in 2020.... Read More
As existing home prices continue to trend higher, new home prices have stalled out over the last few years.... Read More
The latest charts on vaccinations and COVID... Read More
Why is the GS Non-Profitable Tech Stock Index going parabolic? Look at the way retail investors deploy their money.... Read More
The cryptocurrency universe briefly surpassed $1 trillion in market value. Over 83% of this is in Bitcoin and Ethereum.... Read More