ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
Stock Market Commentary The economist “consensus” expectations for September job growth missed the mark by a mile, 336,000 actual versus 170,000 projected. These big misses represent the on-going struggles of conventional economics to understand the dynamics of today’s post-pandemic economy. Initially, the good jobs news frightened financial markets which think of good news as bad … Read more
Stock Market Commentary: In the previous week, the stock market put on a display of strength ahead of the Federal Reserve’s May decision on monetary policy. That bravado was temporarily undermined by the final blow to First Republic Bank (FRC). After a one-day pause, presumably to contemplate the implications of the lack of a coherent … Read more
Stock Market Commentary: On cue, the stock market groaned at fresh signs of economic strength, this time from another strong jobs report. The recession Wall Street wants is on hold yet again. The bullish intent that charged out of the wake of the Federal Reserve’s last statement on monetary policy made a sharp u-turn. The … Read more
Stock Market Commentary: It took a mixed jobs report and soft economic data to spark late New Year’s cheer in the stock market. The December jobs report refreshed the message of a strong labor market whose unemployment rate has stayed between 3.5% and 3.7% the entire time the Federal Reserve has hiked interest rates. Yet, … Read more
Stock Market Commentary: I expressed my surprise after the stock market soared in response to Fed Chair Jerome Powell’s inflation-fighting speech. I thought Powell simply reiterated known information with more reminders of the Fed’s inflation-fighting commitment. Since then, two strong economic reports in a row have sent the stock market into rapid retreat from that … Read more