Breadth Broadens as Inflation Heats Back Up
It was a decent week. Markets continue to work their way higher, and more importantly, breadth got better, with more stocks participating both here and, increasingly, around the world. The bigger story is inflation: CPI, PPI, and import and export prices all came in hot, which tells us a second wave may be building. That […]
Lower Oil, a New Fed Chair, and Positioning for Reflation
Inflation Data Ahead, Breadth Narrows, SpaceX Comes to Market
Market Breadth, Inflation Risk and the SpaceX IPO
Global Markets Remain Resilient
Markets remain resilient, supported by solid earnings, improving economic data, and positive momentum across global equities. However, leadership remains concentrated and valuations in tech remain historically elevated, so selectivity is important. International markets, commodities, energy, materials, and other inflation-sensitive areas continue to offer attractive risk/reward opportunities, while higher interest rates keep pressure on bonds and […]
Bombardier, BHP Group an Tamarack Valley Energy
Markets Watch the Fed Transition and IPO Calendar
We continue to see a constructive long-term market backdrop, and the evidence continues to support the view that this structural bull market remains intact. Canadian breadth has been encouraging, short-term U.S. breadth remains supportive, credit spreads continue to reflect a healthy environment, and we are still finding attractive opportunities across the market. As a result, […]
Staying Selective As Market Leadership Narrows
Markets have continued to move higher, but this week we focused on an important shift beneath the surface: leadership is narrowing, breadth is weakening, and this is becoming a more selective environment. We continue to view the long-term backdrop as constructive. At the same time, we are paying close attention to the signs that […]
Bond Volatility Tests AI Momentum Ahead of Nvidia Earnings
International Equities
