News Room

Please join Doug Noland and David McAlvany a week from Thursday, April 22nd, at 4:00 pm Eastern/ 2:00 pm Mountain time for the Tactical Short Q1 recap conference call, “Contemplating an Inflection Point.” Click here [...]

Creeping Inflation Concerns?As we enjoy the warming temperatures of a budding spring, the US Labor Department reported on Friday a warming trend of a whole different nature. The March PPI results came in “hotter” than [...]

[Yahoo/Bloomberg] U.S. Stocks Fluctuate as Treasury Yields Rise: Markets Wrap [MarketWatch] U.S. Treasury yields climb amid global reflation fears [Reuters] Oil prices dip on mixed supply and demand outlook [CNBC] U.S. producer price index rose [...]

[Yahoo/Bloomberg] Stocks Rise With Europe; Treasuries Gain: Markets Wrap [Yahoo/Bloomberg] Gold Gains After Dovish Fed Minutes Lift Equities, Weaken Dollar [Yahoo/Bloomberg] Yuan Erases Year’s Gains Against Dollar as PBOC Steps Aside [Reuters] Analysis: White House, [...]

[Yahoo/Bloomberg] Stocks Hover Around Record High; Treasuries Steady: Markets Wrap [Reuters] Global growth hopes keep shares near record high [Yahoo/Bloomberg] U.S. Trade Deficit Widened to Record $71.1 Billion in February [Reuters] U.S. trade deficit hits [...]

[Yahoo/Bloomberg] S&P 500 Dips; Europe Stocks Climb to Record: Markets Wrap [Reuters] China stocks fall as healthcare, consumer companies weigh [Yahoo/Bloomberg] Oil Rebounds With Growth Outlook Improving Ahead of Iran Talks [Reuters] Fast food struggles [...]

[Yahoo/Bloomberg] U.S. Stocks Gain; Pound at Two-Week High: Markets Wrap [Reuters] Stocks gain after bumper U.S. jobs data, bonds smell Fed trouble [Yahoo/Bloomberg] Oil Falls as India Virus Cases Surge, OPEC+ Agrees to Ease Cuts [...]

[Yahoo/Bloomberg] Guardians of Global Economy Gather to Assess Damage: Eco Week [Yahoo/Bloomberg] Saudis Hike Oil Prices for Key Asia Market in Sign of Confidence [Yahoo/Bloomberg] Credit Suisse Weighs Replacing Risk Chief After Miscues [Reuters] France [...]

[CNN] Fully vaccinated people can travel at low risk to themselves, new CDC guidance says [AP] EXPLAINER: What Biden’s new $100B plan for broadband means [Reuters] Myanmar protesters defy crackdown, five killed; junta hunts critics [...]

I’ve been a longtime enthusiast for Hyman Minky’s analysis. His work plays prominently in my analytical framework. Financial structures evolve over time, and there is an innate propensity for this evolution to regress into a [...]

An Echo of History On this holiday weekend, let’s take a short trek along the yellow brick road. While multi-month price corrections are never fun for the asset holder, overall, intermediate corrections are a [...]

[Yahoo/Bloomberg] U.S. Stock Futures Gain on Strong Jobs Data: Markets Wrap [CNBC] U.S. Treasury yields remain slightly higher following robust March jobs report [Yahoo/Bloomberg] U.S. Added 916,000 Jobs in March, Unemployment Rate Falls [Reuters] U.S. [...]

[Yahoo/Bloomberg] Stocks Rise on Growth Outlook With Jobs in Focus: Markets Wrap [Reuters] Oil up as OPEC+ meets to decide on production policy [Yahoo/Bloomberg] U.S. Jobless Claims Rise as Labor Market Recovery Remains Choppy [Reuters] [...]

[Yahoo/Bloomberg] Yields Gain as Traders Absorb Biden Spending Plan: Markets Wrap [AP] Eager to build infrastructure, Biden plans to tax business [Reuters] Factbox: What's in Biden's $2.3 trillion infrastructure plan? [Reuters] Biden proposal: $174 billion [...]

[Yahoo/Bloomberg] Treasury Yields Rise With Biden Spending in Focus: Markets Wrap [CNBC] 10-year Treasury yield hits 14-month highs, topping 1.77% [Reuters] Nasdaq down as spike in yields pressures tech stocks [Reuters] Dollar gains as U.S. [...]

[Yahoo/Bloomberg] U.S. Stocks Fall as Block Trades Rattle Nerves: Markets Wrap [Reuters] World shares steady as Archegos concerns temper Suez relief [Yahoo/Bloomberg] Oil Rises With Market Eyeing OPEC+ Meeting, Suez Canal Reopening [Yahoo/Bloomberg] Billions in [...]

[Yahoo/Bloomberg] Treasuries’ Worst Quarter Since 2016 Ends With Questions Aplenty [Reuters] Tugs, dredgers still struggle to free ship blocking Suez Canal [Yahoo/Bloomberg] Ship’s Front Was Damaged; 350 Vessels Waiting: Suez Update [Yahoo/Bloomberg] ‘Unprecedented’: Wall Street [...]

[AP] Big Tech’s outsized influence draws state-level pushback [Reuters] Salvager hopes to free ship blocking Suez Canal by start of next week [Yahoo/Bloomberg] How a Desert Wind Blew $10 Billion of Global Trade Off Course [...]

Markets: Risk-on, Risk-off, Risk-maybe On the macro economic front, significant coronavirus concerns have resurfaced again this past week. Germany, Europe’s largest economy, is enduring a third wave of the pandemic. After Covid numbers fell [...]

March 1 – Daily Sabah: “Turkey’s economy grew a less-than-expected but still robust 5.9% in the fourth quarter of 2020 and 1.8% in the year as a whole…, emerging as one of only a few [...]

[Yahoo/Bloomberg] U.S. Stocks Mixed as Dollar Breaks Winning Streak: Markets Wrap [Reuters] Oil prices rise on fears Suez blockage may last weeks [Yahoo/Bloomberg] U.S. Household Spending Fell in February as Stimulus Boost Waned [CNBC] New [...]

[Yahoo/Bloomberg] Stocks Decline, Oil Drops Amid Suez Block: Markets Wrap [Reuters] Stocks sluggish, dollar near four-month highs as risk appetite wanes [Yahoo/Bloomberg] China Tech Giants Dive as Delisting Threat Joins Crackdown Fears [Yahoo/Bloomberg] Oil Slumps [...]

[Yahoo/Bloomberg] Nasdaq Leads Market Higher as Yields Rise: Markets Wrap [Yahoo/Bloomberg] Oil Climbs After Strong Europe Data and Suez Canal Blockage [Yahoo/Bloomberg] U.S. Durable Goods Orders Decrease for First Time Since April [CNBC] Homebuyer mortgage [...]

[Yahoo/Bloomberg] Stocks Edge Down as Oil Slumps; Bonds Advance: Markets Wrap [Yahoo/Bloomberg] Bargain Hunters Save Turkish Stocks From Worst Drop in 20 Years [Reuters] Oil falls more than 3% as European coronavirus curbs point to [...]

[Yahoo/Bloomberg] Stocks Edge Up as Yields Dip; Turkish Lira Sinks: Markets Wrap [Reuters] Turkish lira plunges to near record low after Erdogan sacks central bank chief [Yahoo/Bloomberg] Turkish Stock Drop Triggers Circuit Breakers as Banks [...]

[Yahoo/Bloomberg] Mideast Equities Drop Tracking Slump in Oil Prices: Inside EM [AP] Supply bottlenecks leave ships stranded, businesses stymied [CNBC] Covid cases are rising in 21 states as health officials warn against reopening too quickly [...]

[CNBC] U.S.-China trade relations remain strained as Biden team takes tough stance similar to Trump [Reuters] 'Tough' U.S.-China talks signal rocky start to relations under Biden [AP] Fallout from riot, virus leaves toxic mood on [...]

The Treasury yield spike runs unabated. Ten-year Treasury yields rose another 10 bps this week to 1.72%, the high since January 23, 2020. The Treasury five-year “breakeven” inflation rate rose [...]

Time to Build a Portfolio of Real Things Today is “quadruple witching,” with a variety of options and futures contracts expiring. This adds a unique complexity to market behavior. The dust will settle next [...]

[Yahoo/Bloomberg] Stocks, Yields Fluctuate After Fed Ends Break: Markets Wrap [Reuters] U.S. bond yields dip from 14-month highs, oil stabilises [Yahoo/Bloomberg] China Stocks Slide on Rocky Alaska Talks With U.S. [CNBC] The Fed will not [...]

[Yahoo/Bloomberg] Bonds Plunge With Nasdaq on Inflation Risk: Markets Wrap [Yahoo/Bloomberg] Treasury Yields Top 1.75% After Powell Spurs Bets on Inflation [Yahoo/Bloomberg] Oil Is on Longest Run of Declines in Over a Year as Rally [...]

[Yahoo/Bloomberg] Yields Extend Gains Before Fed; Tech Shares Slump: Markets Wrap [Reuters] U.S. Treasury yields hit new highs as key Fed statement looms [Yahoo/Bloomberg] Fed’s Dot Plot May Back Up Powell’s Patience: Decision-Day Guide [Reuters] [...]

[Yahoo/Bloomberg] Stocks Edge Up; Oil Slips: Markets Wrap [Reuters] Oil drops amid rising stockpiles and COVID-19 demand concerns [Reuters] Fed officials may talk technical rate move but delay acting for now [CNBC] Why this week’s [...]

[Yahoo/Bloomberg] Stocks Gain as Oil Dips; Europe Stocks Rise: Markets Wrap [Reuters] Euro zone government bond yields stabilise; U.S.-Germany spread at widest in one year [Reuters] Dollar sets pace ahead of key central bank meetings [...]

[CNBC] Fewer kids are going to college because they say it costs too much [AP] China, North Korea loom as Blinken, Austin head to Asia [Yahoo/Bloomberg] Fed to Hike Rates in 2023 but Dots Won’t [...]

[Reuters] Pelosi says U.S. lawmakers must work 'swiftly' on major infrastructure package [Reuters] First U.S. stimulus payments to hit bank accounts this weekend: officials [Yahoo/Bloomberg] Bear Warning Seen With Nasdaq 100 Velocity Stalling at 2000 [...]

Real But Unacknowledged, Inflation Is the Elephant in the Room A failed rally in the 10-year Treasury took yields back to the highs for the week, passing 1.62%. Though the FED speaks as if [...]

I received a friendly email a few weeks back from a reader inquiring whether my analysis is Fact or opinion. Well, it’s my opinion that the world is in the “Terminal Phase” of history’s greatest [...]

[Yahoo/Bloomberg] Nasdaq Slides as Yields Climb With Dollar: Markets Wrap [Yahoo/Bloomberg] Treasury Yields Surge to Test Key Level in Sudden Selling Bout [Reuters] Global stocks, oil edge away from highs as stimulus rally ebbs [Reuters] [...]

[Yahoo/Bloomberg] Nasdaq Leads U.S. Equities as Dollar Weakens: Markets Wrap [Reuters] Euro zone bond yields fall after ECB says it will speed up bond purchases [Reuters] World stocks hit highest in a week as inflation [...]

[Yahoo/Bloomberg] Stocks Rise, Dollar Erases Gain on Inflation Data: Markets Wrap [Reuters] Stocks and bond yields inch higher after wild tech reboot [Reuters] Oil rises on OPEC+ supply restraint and brighter economic forecast [Reuters] U.S. [...]

[Yahoo/Bloomberg] U.S. Stocks Rise as Treasury Yields Halt Four-Day Climb [Reuters] Gold rebounds as dollar, U.S. yields pull back [Reuters] Oil prices rise on expected economic recovery, likely drawdown in oil stocks [Yahoo/Bloomberg] Treasury Traders [...]

[Yahoo/Bloomberg] U.S. Stocks Fluctuate; Dollar Strengthens: Markets Wrap [CNBC] 10-year Treasury yield rises to 1.6% after Senate passes stimulus package [Yahoo/Bloomberg] Oil Surge Eases Following Attack on Key Saudi Crude Terminal [Yahoo/Bloomberg] China’s Key Stock [...]

[Yahoo/Bloomberg] Saudi Stocks Lead Gulf Gains on Surging Oil Bets: Inside EM [CNBC] Senate passes $1.9 trillion Covid relief bill, House Democrats plan final approval Tuesday [Yahoo/Bloomberg] Powell’s Dashboard Shows How Far U.S. Economy Has [...]

[Reuters] Democrats advance Biden's $1.9 trillion COVID-19 bill in marathon Senate session [Reuters] Wall Street Week Ahead: Investors weigh how far tech stocks can slide after volatile week [Yahoo/Bloomberg] Senate Nears Saturday Passage After All-Nighter: [...]

It was another unsettled week for notably synchronized global markets. The week began with a decent bout of hope. The S&P500 rallied 2.8% in Monday trading, “its strongest one-day gain [...]

Fed Starting to Lead Interest Rate Policy from the Rear Bank of America is calling this, “a new era of volatility.” Bonds, stocks, commodities, precious metals, everything was on the move in dramatic form, [...]

[Yahoo/Bloomberg] Bond Yields Hit 1.6% on Jobs Data; Stocks Rise: Markets Wrap [Yahoo/Bloomberg] Global Credit Markets Stumble in One of This Year’s Worst Weeks [Reuters] Oil hits almost 14-month high after OPEC+ extends output cuts [...]

[Yahoo/Bloomberg] Stocks and Bonds Steady After Jobs Data: Markets Wrap [Reuters] Bond scares linger, investors look to Powell [Reuters] Oil strengthens on prospect of OPEC+ maintaining supply cuts, drop in U.S. inventories [Yahoo/Bloomberg] Initial Claims [...]

[Yahoo/Bloomberg] Stocks Decline as Treasuries Extend Rout: Markets Wrap [Reuters] Oil up as OPEC+ considers rollover rather than raising output [Reuters] Rocket leads mortgage sector surge in GameStop-style short squeeze [Yahoo/Bloomberg] Cost of Treasuries-Led Rout [...]

[Yahoo/Bloomberg] U.S. Stocks Decline as Europe Shares Gain: Markets Wrap [Reuters] Wall Street heads for subdued start, on bond watch [Yahoo/Bloomberg] China’s Focus on Bubble Risks Is a Warning Sign for Stock Market [Yahoo/Bloomberg] China [...]

Investors Move to Reduce Risk The predominant market theme for this week was the spike in the 10-year yield and its implications for risk assets. Stepping back, as risk-free rates rise and offer cash [...]

[Yahoo/Bloomberg] Stocks, Commodities Rally as Treasuries Slide: Markets Wrap [Yahoo/Bloomberg] Oil Powers Ahead as Critical OPEC+ Meeting Looms, Markets Rally [Reuters] Spotlight moves to U.S. Senate as Democrats push $1.9 trillion COVID-19 relief bill [Yahoo/Bloomberg] [...]

[AP] Biden team readies wider economic package after virus relief [Reuters] China's factory activity expands at a slower pace in February, misses expectations: official PMI [Reuters] Growth in China's services sector slows in February -official [...]

[Reuters] Biden scores legislative win as House passes $1.9 trillion COVID-19 relief plan [Reuters] Investors jumping the gun as TIPS, futures flag early Fed tightening [Reuters] Wall Street Week Ahead: Investors weigh new stock leadership [...]

Ten-year Treasury yields closed out a tumultuous week at 1.41% bps, pulling back after Thursday’s spike to a one-year high 1.61%. Ten-year Treasury yields are now up 49 bps from the start of the year [...]

[Yahoo/Bloomberg] Global Bond Rout Eases; Dollar Extends Advance: Markets Wrap [CNBC] 10-year Treasury yield retreats slightly from one-year high [Reuters] China, Hong Kong stocks drop over 2% as bond yields surge [Reuters] Stock markets hit [...]

[Yahoo/Bloomberg] Bonds Drop With Stocks on Inflation Worries: Markets Wrap [Reuters] Stocks rise, bond yields too - despite central banker talk-down efforts [CNBC] GameStop shares surge in premarket as Reddit favorites rally again [Reuters] Oil [...]

[Yahoo/Bloomberg] U.S. Stocks Slump as Treasury Yields Surge: Markets Wrap [Reuters] Oil edges higher as surprise U.S. stock build weighs [Reuters] China's yuan firms on dollar weakness after Powell testimony [Yahoo/Bloomberg] Powell Goes Easy on [...]

[Yahoo/Bloomberg] Stocks Decline as Tech Slumps: Markets Wrap [Reuters] Stocks struggle as tech slide erases commodities surge [Reuters] Oil rises on positive forecasts, slow U.S. output restart [Yahoo/Bloomberg] Gold Steadies After Sharp Gain With Powell’s [...]

[Yahoo/Bloomberg] Bond Yields Climb as Stocks Slump; Copper Rallies: Markets Wrap [Reuters] World shares dip as bond yields, commodities surge [Reuters] Dollar holds its ground as markets focus on rising yields [Yahoo/Bloomberg] Brazil Markets Tumble [...]

[AP] Power failure: How a winter storm pushed Texas into crisis [Yahoo/Bloomberg] Biden’s Economic Legacy at Stake With Next Package Taking Shape [Yahoo/Bloomberg] Weak Grids Expose Risks for the Electrification of Everything [Yahoo/Bloomberg] Surging U.S. [...]

The Market Considers Its Options The broader market had a bit of a pullback as it digested extraordinary gains. However, the selloff was uneven. There are plenty of signs that the risk-on environment we [...]

[Reuters] Wall Street Week Ahead: Rising U.S. bond yields pose new threat to sky-high stocks [AP] Southern cities hit hard by storms face new crisis: No water [Reuters] Cold, lack of water overwhelm Texas hospitals [...]

I give it my best shot each week. My hope is to provide pertinent insight, though the overarching objective is to scrupulously chronicle this extraordinary period in history. Like other great Bubbles and manias, looking [...]

[Yahoo/Bloomberg] Stocks Rise With Focus on Earnings, Dollar Dips: Markets Wrap [Reuters] Shares grind higher despite rising bond yields, weak data [Yahoo/Bloomberg] Oil Giving Up Big-Freeze Gains With Wells Slowly Restarting [Reuters] Take Five: Bond [...]

[Yahoo/Bloomberg] Nasdaq Leads U.S. Stocks Lower; U.S. Yields Rise: Markets Wrap [Reuters] China's blue-chip index falls on policy tightening, valuation worries; Hong Kong down [Reuters] Oil prices extend gains as Texas cold snap cuts U.S. [...]

[Yahoo/Bloomberg] Treasury Yields Hold Near One-Year High; Stocks Slip: Markets Wrap [Reuters] Rising U.S. yields cool down stocks [Yahoo/Bloomberg] Oil Extends Gains as Freeze Halts a Third of U.S. Crude Output [Reuters] U.S. retail sales [...]

[Yahoo/Bloomberg] Stocks Extend Rally; Treasury Yields Rise: Markets Wrap [Reuters] Wall Street set to join global stocks party as investors dump bonds [Yahoo/Bloomberg] Treasury Yields Surge as Rising Energy Costs Spur Reflation Bets [Reuters] Oil [...]

[Yahoo/Bloomberg] Stocks Extend Gains; Oil Climbs on Cold Snap: Markets Wrap [Reuters] Dollar weakens as market optimism lifts riskier currencies [Yahoo/Bloomberg] Oil Rallies as Texas’ Wintry Cold Hits Output in Shale Heartland [Yahoo/Bloomberg] Gold Steadies [...]

[Yahoo/Bloomberg] Big Freeze Sends Gas Soaring With Arctic Grip Tightening [AP] Virus may never go away but could change into mild annoyance [Reuters] China fires back at Washington after it raises concerns about WHO COVID [...]

Markets Continue Their Hopium High The risk-on trade continued into this week, and the markets saw a continued broad-based rally to all-time highs. The S&P 500 closed the week up 1.6 percent, and the [...]

[Yahoo/Bloomberg] Arctic Blast Grips U.S., Shaking Markets and Setting Records [CNBC] Fatigue, headaches and chest pain: Medical experts try to establish ‘long Covid’ diagnosis for patients with lasting symptoms [Yahoo/Bloomberg] Taper Tantrum to VAR Shock: [...]

Central banking traditionally operated as a judicious and conservative institution, with an overarching mandate focused on promoting monetary and financial stability. Historically, recognition that missteps can impart such profound societal hardship necessitated an incremental and [...]

[Yahoo/Bloomberg] U.S. Stocks Edge Lower; Dollar Rebounds: Markets Wrap [Reuters] World shares dip and Bitcoin hits record high [Reuters] Biden to press for $1.9 trillion COVID relief plan with governors, mayors [Yahoo/Bloomberg] Stock Trading Frenzy [...]

[Yahoo/Bloomberg] Technology Leads Stocks Higher; Oil Retreats: Markets Wrap [Reuters] Dollar steadies; Aussie dollar nears two-week highs [Reuters] Global stocks higher, sustained by bottomless stimulus [CNBC] Jobless claims worse than expected as pandemic-related filings [...]

[Yahoo/Bloomberg] Stocks Extend Gain, Bonds Erase Loss on CPI: Markets Wrap [Reuters] World shares gain for eighth day in a row; Wall Street set for stronger open [Yahoo/Bloomberg] Oil Extends Longest Rising Streak in Two [...]

[Yahoo/Bloomberg] U.S. Stocks Slip With Europe; Dollar Drops: Markets Wrap [Reuters] Dollar retreats on U.S. recovery doubts; bitcoin tops $47,000 for first time [Yahoo/Bloomberg] Gold Advances for Third Day With Stimulus, Inflation in Focus [Reuters] [...]

[Reuters] Shares reach record high, oil tops $60 a barrel [Yahoo/Bloomberg] Stocks Hit Record, Bonds Drop on Reflation Trade: Markets Wrap [Yahoo/Bloomberg] Treasury Long Bond Reaches 2% Milestone as Global Yields Awaken [Yahoo/Bloomberg] Bond Traders [...]

[Yahoo/Bloomberg] Flash Loans Are Providing Instant Cash to Crypto Speculators [Reuters] China issues new anti-monopoly rules targeting its tech giants [Reuters] China Dec FX reserves fall slightly to $3.211 trln [CNBC] U.S. and China top [...]

Market Expects Fair Winds and Following Seas The markets got a taste of a risk-off environment last week. They quickly shrugged off a brief period of hedge fund balance sheet de-grossing to make new [...]

[Reuters] Democrats clear path for approval of Biden's $1.9 trillion COVID package [AP] Biden’s dilemma in virus aid fight: Go big or go bipartisan [Reuters] Wall Street Week Ahead: GameStop frenzy reveals potential for broader [...]

GameStop collapsed 80% this week, with Express and AMC Entertainment down 48%, Vaxart 36%, and Siebert Financial 31%. Riches have been made and lost. Wealth was redistributed – and count [...]

[Yahoo/Bloomberg] Stocks Rise as Jobs Report Bolsters Stimulus Bets: Markets Wrap [Reuters] Dollar set for best week in three months as pandemic recoveries diverge [Reuters] Oil hits highest in a year on growth hopes, OPEC+ [...]

[Yahoo/Bloomberg] Stocks Edge Higher as Yields Rise; Dollar Gains: Markets Wraprap [Reuters] China stocks fall on fresh liquidity concerns, Hong Kong dragged by tech shares [Reuters] Dollar strengthens on U.S. economic outlook; euro dips below [...]

[Yahoo/Bloomberg] Global Stocks Extend Rally as Earnings Roll In: Markets Wrap [Yahoo/Bloomberg] Silver Calms as Market-Roiling Frenzy Shows Signs of Easing Off [Yahoo/Bloomberg] China Drains Funds From Banking System as Cash Crunch Eases [Reuters] U.S. [...]

[Yahoo/Bloomberg] Stocks Rally Before Tech Earnings; Silver Tumbles: Markets Wrap [Reuters] Global markets buoyant as U.S. stimulus debate approaches [Yahoo/Bloomberg] Oil Surges to One-Year High in New York as Rally Powers On [CNBC] GameStop shares [...]

[Yahoo/Bloomberg] Global Stocks Rally; Silver Jumps to 2013 High: Markets Wrap [Reuters] Stocks bouce back as small-time traders pile into silver [CNBC] Silver jumps 11%, the most in 11 years as Reddit traders try their [...]

[Yahoo/Bloomberg] The Reddit Army Bailout: Desperate Companies Get New Lifelines [Reuters] China's factory recovery slows in January as COVID-19 returns [Reuters] Growth in China's services sector slows in Jan - official PMI [Reuters] Italy's Renzi [...]

When Shorted Stocks Stand TallMarkets had a pullback this week despite a concerted effort by retail investors on the subreddit “Wall Street Bets” to create a short squeeze in heavily shorted names. The highest 50 [...]

[AP] Biden, Democrats hit gas on push for $15 minimum wage [Yahoo News] ‘A wakeup call’: How resilient new coronavirus variants could prolong the pandemic [MSN/LA Times] New clinical trials raise fears the coronavirus is [...]

Yet another week for the history books. For posterity: GameStop gained 400%, AMC Entertainment 278%, Express 235%, Siebert Financial 122%, Cel-Sci 75%, Novavax 74%, Vaxart 68%, Fulgent Genetics 60%, Vir Biotechnology 59%, National Beverage 54%, [...]

[Yahoo/Bloomberg] Stocks Drop; Treasury Yields Rise: Markets Wrap [Yahoo/Bloomberg] GameStop Surges in Premarket as Some Trading Restrictions Lifted [CNBC] Bitcoin spikes 20% after Elon Musk adds #bitcoin to his Twitter bio [Yahoo/Bloomberg] Oil Holds Steady [...]

[Yahoo/Bloomberg] U.S. Stocks Gain After Jobless Claims Dip: Markets Wrap [Reuters] Stocks soured by Wall Street sell-off and 'vaccine nationalism' [Reuters] Souring sentiment lifts dollar, knocks risk currencies [CNBC] Fourth quarter GDP increased 4.0% vs [...]

[Yahoo/Bloomberg] U.S. Stocks Slump in Risk-Off Mood; Dollar Rises: Markets Wrap [Reuters] China money rates hit 21-month high on holiday demand, policy tightening worries [Reuters] Dollar edges before Fed meeting, euro slips [Reuters] GameStop stock [...]

[Yahoo/Bloomberg] U.S. Stocks Edge Higher; European Stocks Advance: Markets Wrap [Reuters] U.S. Treasury yields fall, dollar firms on stimulus worries [Yahoo/Bloomberg] China's benchmark overnight repo rate jumps to highest since Nov 2019 [CNBC] November home [...]

[Yahoo/Bloomberg] Tech Stocks Rally; European Stocks Retreat: Markets Wrap [Reuters] Dollar steadies; euro hurt by vaccine delays and German business morale slump [MarketWatch] Gold prices perk up as government bond yields retreat [Reuters] Fed set [...]

[Yahoo/Bloomberg] World’s Economic Recovery Gets Delayed by Slow Vaccine Rollouts [Reuters] Biden administration to unveil more climate policies, urges China to toughen emissions target [Reuters] China-Taiwan tensions rise days into Biden presidency [Reuters] U.S. carrier [...]

[AP] Biden’s choice on econ aid: Deal with GOP or go for it all [CNBC] The stock market is at or near the most-expensive levels ever by most measures. When will it matter? [Yahoo/Bloomberg] Oil [...]

Outstanding Treasury Securities began 2008 at $6.051 TN, or 41% of GDP. Treasuries ended 2019 at $19.019 TN, or 87% of GDP. And then, in only three quarters, Treasuries surged another $3.882 TN to $22.900 [...]

Weekly Hard Assets Insights By David McAlvany Only Gold Is Gold The meteoric rise and fall of bitcoin and other cryptocurrencies has gotten a great deal of media attention. Those of us close to [...]

Tactical Short Strategy Conference Call - January 21, 2021 Disclaimer: Advisory services are offered by McAlvany Wealth Management, an investment adviser registered with the U.S. Securities and Exchange Commission. The comments [...]

[Yahoo/Bloomberg] Rally Stumbles With Virus Concerns Back to Fore: Markets Wrap [Reuters] Global stocks ease as gloomy data takes shine off U.S. stimulus hopes [Reuters] Oil down 2% as China COVID-19 cases trigger clampdowns [Reuters] [...]

[Yahoo/Bloomberg] Stocks Rise to Record; Euro Holds Gain After ECB: Markets Wrap [Yahoo/Bloomberg] Gold Steady as Dollar Continues Decline on Biden Stimulus Bets [Reuters] Euro clings to gains as ECB sticks to policy, dollar dips [...]

[Yahoo/Bloomberg] U.S. Stocks Rise With Europe; Bonds Dip: Markets Wrap [Reuters] Stocks welcome Yellen's call to 'act big' on coronavirus spending [Yahoo/Bloomberg] Gold Rises With Dollar’s Outlook in Focus After Yellen Weighs In [Reuters] Biden [...]

[Yahoo/Bloomberg] Stocks, Treasury Yields Rise Before Yellen Hearing: Markets Wrap [Yahoo/Bloomberg] Yellen Faces Senate With ‘Act Big’ Message on Economic Stimulus [AP] A new COVID-19 challenge: Mutations rise along with cases [CNBC] Covid live updates: [...]

[Yahoo/Bloomberg] U.S. Equity Futures Fluctuate, Dollar Edges Higher: Markets Wrap [CNBC] Global stocks sink as coronavirus fears outweigh recovery hopes [Yahoo/Bloomberg] Gold Edges Up From December Low With Focus on Stimulus, Dollar [Yahoo/Bloomberg] Oil Extends [...]

[Yahoo/Bloomberg] Most Mideast Equity Gauges Fall as Earnings Roll In: Inside EM [AP] Statehouses, US capital brace for potentially violent week [Reuters] Italy's Conte struggles to secure support in Senate showdown [Reuters] Italy public debt [...]

[CNBC] Adrenaline-fueled rush for small caps, vaccine plays and story stocks dents passive-indexing trend [CNBC] New Covid variant first found in UK could become dominant strain in U.S. by March, CDC says [Reuters] U.S. [...]

Please join Doug Noland and David McAlvany this Thursday, January 21st, at 4:00pm Eastern/ 2:00pm Mountain time for the Tactical Short Q4 recap conference call, “Managing in a Mania.” Click [...]

New Year Begins with Significant Market Shifts Hard Assets Insights has returned after a bit of a hiatus, although we have been watching the current economic and market landscape with incredible fascination. It seems [...]

[Yahoo/Bloomberg] Stocks, Yields Fall as Reflation Trade Sputters: Markets Wrap [Yahoo/Bloomberg] U.S. Retail Sales Post Surprise Monthly Drop to Cap Dismal Year [Reuters] U.S. producer prices increase moderately in December [CNBC] Covid live updates: Officials [...]

[Yahoo/Bloomberg] Treasury Yields Rise on Aid Report; Stocks Advance: Markets Wrap [Reuters] Stimulus helps stocks shrug off impeachment chaos [Yahoo/Bloomberg] Chinese Stocks Fall Most Since September, Pulling Back From 13-Year High [Reuters] Dollar holds gains [...]

[Yahoo/Bloomberg] U.S. Stocks Slip While Dollar Strengthens: Markets Wrap [Yahoo/Bloomberg] Dollar Climbs; Europe Stocks Fluctuate: Markets Wrap [CNBC] U.S. consumer prices increase in December [Yahoo/Bloomberg] Fed Talk of Taper Rekindles Specter of Wrenching 2013 Tantrum [...]

[Yahoo/Bloomberg] U.S. Stocks Churn Higher as Dollar Steadies: Markets Wrap [Reuters] Global Markets - Stocks pause for breath as bond selloff extends [Reuters] Oil hits 11-month high as Saudi cut supports [Yahoo/Bloomberg] Worsening U.S.-China Tensions [...]

[Yahoo/Bloomberg] Dollar Rises as Stocks Retreat: Markets Wrap [Reuters] Stocks slip on virus fears, dollar hits highest in 2-1/2 weeks [Yahoo/Bloomberg] Gold Steadies After Treasury Yields Drop Amid Investor Caution [Reuters] Oil falls on [...]

[AP] In wake of Capitol riot, Americans struggle for answers [Yahoo/Bloomberg] The Inflation Debate That’s Roiling U.S. Markets Faces 2021 Test [Yahoo/Bloomberg] Resilience Test Awaits Emerging Markets Unnerved by Treasuries [Reuters] New coronavirus variant found [...]

[AP] Democratic wins could strengthen Biden’s legislative push [CNN] More states report climbing Covid-19 numbers as CDC chief warns US Capitol riot was a likely 'surge event' [Yahoo/Bloomberg] Fastest Rally in History Takes Emerging-Market Stocks [...]

Fragility. Last year exposed myriad fragilities. The U.S. stock market went from all-time highs to an emergency FOMC meeting in ten sessions. The S&P500 lost more than a third of its value in just 21 [...]

[Yahoo/Bloomberg] Stocks Rise as Grim Jobs Data Spur Stimulus Bets: Markets Wrap [Reuters] Shares soar on hopes of global recovery, U.S. stimulus [Yahoo/Bloomberg] Treasury Yield Surge Rattles Emerging-Market Currencies in Asia [CNBC] Economy sees [...]

[Yahoo/Bloomberg] U.S. Stocks Rise as Congress Certifies Biden’s Presidency [Yahoo/Bloomberg] Stocks Extend Gains as Investors Focus on Stimulus: Markets Wrap [MarketWatch] U.S. trade deficit widens 8% in November [Reuters] U.S. weekly jobless claims unexpectedly fall [...]

[Reuters] Treasury yields soar, tech stocks crumble on possible Georgia 'blue sweep' [Yahoo/Bloomberg] Treasury Yields Reach 1%; Nasdaq Tumbles: Markets Wrap [Reuters] Dollar hits lowest since March 2018 on Democrat gains in U.S. senate election [...]

[Yahoo/Bloomberg] U.S. Stocks Slip With Europe; Dollar Drops: Markets Wrap [Yahoo/Bloomberg] Gold Near Eight-Week High as Covid Angst Fires Up Haven Demand [AP] Decision day in Georgia with Senate majority at stake [Yahoo/Bloomberg] Markets Brace [...]

[Yahoo/Bloomberg] U.S. Stocks Rise With Europe; Gold Jumps: Markets Wrap [Yahoo/Bloomberg] Dollar Stumbles Into 2021 as Bets on Global Recovery Dominate [Yahoo/Bloomberg] Gold Roars Out of Blocks in 2021 as Real Yields, Dollar Decline [Reuters] [...]

[Reuters] U.S. Senate control, and Biden's agenda, at stake as Georgia runoff elections loom [AP] Congress opening new session as virus, Biden’s win dominate [AP] The Latest: US virus death toll hits 350,000; surge feared [...]

[Reuters] A record three million early votes cast in Georgia's U.S. Senate runoff races [CNBC] The legacy of 2020: Riches for the wealthy and White, financial pain for others [CNBC] China says it will [...]

Over 350,000 Americans dead, with the Covid death toll projected to rise another 150,000 by the end of January. Confirmed Covid cases have exceeded 20 million (84 million globally), ending 2020 with new U.S. infections [...]

[Reuters] U.S. stocks in 2020: a year for the history books [CNBC] Politics will be front and center as a catalyst in the first week of the new year [AP] Shutdown, impeachment, virus: Chaotic Congress [...]

[Yahoo/Bloomberg] Stocks Steady Near All-Time Highs; Dollar Dips: Markets Wrap [Yahoo/Bloomberg] Gold Heads for Best Year in a Decade With Dollar on the Ropes [Reuters] Dollar sucked into downward spiral by U.S. twin deficits [Yahoo/Bloomberg] [...]

[Yahoo/Bloomberg] U.S. Stocks Rebound, Dollar Weakens: Markets Wrap [Reuters] Stocks rise into year-end on 2021 recovery hopes [Reuters] Dollar slumps as bears shrug off U.S. stimulus delay [Yahoo/Bloomberg] Drive for $2,000 Checks Bogs Down Senate [...]

[Reuters] Global stocks, oil lead risk rally on U.S. stimulus hopes [Yahoo/Bloomberg] U.S. and Global Stocks Ride the Stimulus Wave: Markets Wrap [Yahoo/Bloomberg] Gold Climbs After House Backs Trump’s Call for $2,000 Checks [Reuters] Dollar [...]

[Yahoo/Bloomberg] Stocks Climb; Treasuries Retreat: Markets Wrap [Yahoo/Bloomberg] Gold Set for Best Close in Seven Weeks as Trump Signs Stimulus [Yahoo/Bloomberg] Alibaba Antitrust Fears Drive $200 Billion Chinese Tech Selloff [AP] Trump signs massive measure [...]

[Reuters] U.S. jobless benefit cut-off pushes millions to financial cliff-edge [SFGate] California now has the worst COVID-19 spread in US [Yahoo/Bloomberg] Bond Traders Close Out Chaotic Year With Key 1% Level in Sight [Yahoo/Bloomberg] Volatility [...]

[Yahoo/Bloomberg] Year of the Meme Stock: Hertz, Kodak Top List of 2020 Highlights [Reuters] U.S. holiday retail sales rise 3% as online shopping booms- Mastercard report [Reuters] Millions of Americans lose jobless benefits as [...]

For the Week: The S&P500 slipped 0.2% (up 14.6% y-t-d), while the Dow was little changed (up 5.8%). The Utilities declined 0.9% (down 2.9%). The Banks jumped 3.1% (down 15.0%), and the Broker/Dealers gained 1.9% [...]

[Reuters] Politics blunts Christmas as U.S. government shutdown nears, COVID-19 aid uncertain [Reuters] Many just want a hug for Christmas this year, Queen Elizabeth says [Yahoo/Bloomberg] Pope Calls on World Leaders to Share Vaccines: Virus [...]

[Yahoo/Bloomberg] U.S. Stocks Rise; Pound Gains on Brexit Deal Hope: Markets Wrap [Reuters] Brexit deal anticipation fuels stocks and sterling [CNBC] GOP blocks House Democrats’ attempt to pass $2,000 stimulus checks after Trump voices support [...]

[Yahoo/Bloomberg] U.S. Stocks Climb With Europe; Dollar Dips: Markets Wrap [Reuters] Trump threatens to not sign COVID-19 bill, wants bigger stimulus checks [AP] Trump threatens to torpedo COVID relief with new demands [Reuters] Weekly jobless [...]

[Reuters] Stocks recover as U.S. stimulus offsets angst over new coronavirus strain [Reuters] Spread of virus mutation keeps euro and pound under pressure [Yahoo/Bloomberg] Oil Extends Loss With Virus Mutation Threatening Energy Demand [CNBC] U.S. [...]

[Reuters] Stocks tumble on fears over new coronavirus strain [Yahoo/Bloomberg] Stocks Slump on Virus Curbs; Bonds Rally: Markets Wrap [Yahoo/Bloomberg] Pound Plummets as Virus Threatens U.K.’s Supply Chains With EU [Reuters] World closes borders to [...]

[Reuters] Congress poised to vote on COVID aid package after Fed compromise [CNBC] Covid live updates: Stimulus deal in reach after Fed compromise; Moderna vaccine shipping soon [Mint/Bloomberg] Britain warns new Covid-19 virus strain 'out [...]

The Markets Think Better Times Are Ahead Financial markets remain ebullient as they make all-time new highs coming into the holiday season and year-end. Optimism around the rollout of the COVID-19 vaccine has fueled [...]

[Reuters] Congress works through the weekend to finalize COVID aid package [CNBC] Pain, despair and poverty reach fever pitch for unemployed workers [Reuters] Fed sees 'strong capital levels' at banks after stress tests, greenlights share [...]

Federal Reserve Assets surged $120 billion last week to a record $7.363 TN. Fed Assets inflated $3.593 TN, or 95%, over the past 66 weeks. M2 “money” supply surged $228 billion in this week’s report [...]

[Yahoo/Bloomberg] Stocks Steady After S&P Record; Dollar Rebounds: Markets Wrap [AP] Global stock markets edge up on US stimulus hopes [Yahoo/Bloomberg] Oil Near Highest Level Since February With Bumper Rally Pausing [Reuters] U.S. current account [...]

[Yahoo/Bloomberg] Stocks Rise With Weak Data Fueling Aid-Deal Bets: Markets Wrap [Reuters] Stimulus hopes boost stocks to record; bitcoin soars [Reuters] Dollar gets global beating as stimulus, Brexit boost risk appetite [Yahoo/Bloomberg] Gold Bulls Take [...]

[Reuters] Stocks hit record highs on vaccine, stimulus, Brexit deal hopes [Yahoo/Bloomberg] Pound, Euro Rise to Multi-Year Highs on Brexit Hope, Weak Dollar [CNBC] U.S. retail sales decrease more than expected in November [CNBC] McConnell [...]

[Yahoo/Bloomberg] U.S. Stocks Rebound After Four-Day Slump: Markets Wrap [Reuters] Wall Street rises on stimulus hopes; Fed meet in focus [Reuters] Dollar heavy amid stimulus progress, pound buoyed by Brexit hopes [Yahoo/Bloomberg] Gold Climbs as [...]

[Yahoo/Bloomberg] Stocks Set Bullish Tone as Pound Surges: Markets Wrap [Reuters] Dollar falls; sterling up 1.5% as Brexit deal hopes lift risk appetite [Reuters] Oil prices edge up on hope vaccines will improve fuel demand [...]

Market Shift – Rotation Into Value? Negotiations around a fiscal stimulus package drag on, and COVID cases continue to rise – as expected into winter. The financial markets have been experiencing a great deal [...]

[Reuters] Historic U.S. COVID vaccine campaign launches with convoy of trucks [CNBC] Coronavirus live updates: Vaccine doses are shipping to all 50 states with delivery expected Monday [Reuters] Leaders to push Brexit trade talks beyond [...]

[Reuters] U.S. FDA authorizes Pfizer COVID-19 vaccine for emergency use [Yahoo/Bloomberg] IPO Mania Sweeps Over Robinhood Crowd and Stokes a 111% Rally [CNBC] Texas governor says companies moving headquarters to the state has turned into [...]

Airbnb traded to $165 in early Thursday trading, more than doubling its Wednesday evening $68 IPO price – valuing the company north of $100 billion. After pricing its IPO shares [...]

[Yahoo/Bloomberg] Stocks Slump, Dollar Rebounds Amid Risk-Off Mood: Markets Wrap [Reuters] Dollar ends three weeks of decline as Brexit sours sentiment [CNN] Congress stumbles on a Covid-19 aid package as vaccine approval passes a key [...]

[Yahoo/Bloomberg] Stocks Drop, Bonds Rise Amid Stimulus Talks: Markets Wrap [Yahoo/Bloomberg] Pound Drops After Leaders Dinner Fails to Break Brexit Impasse [Yahoo/Bloomberg] U.S. Jobless Claims Jump More Than Forecast Amid New Shutdowns [Yahoo/Bloomberg] U.S. Inflation [...]

[Yahoo/Bloomberg] Stocks Rise, Bonds Dip Amid Hope for Stimulus Deal: Markets Wrap [Reuters] U.S. House to take up one-week stopgap bill as COVID-19 talks drag on [CNBC] Mortgage rates set 14th record low of the [...]

[Yahoo/Bloomberg] Stocks Drop as Virus Cases Rise: Markets Wrap [Reuters] Stocks take a breather, Brexit weighs down sterling [Yahoo/Bloomberg] McConnell Refuses to Endorse Bipartisan Stimulus, Risking Deal [Reuters] U.S. Congress to vote on stopgap [...]

[Yahoo/Bloomberg] Stocks Slide as Pound Drops on Brexit Deadlock: Markets Wrap [Reuters] Stocks ease as Sino-U.S. tensions heat up, fiscal deal awaited [Reuters] Dollar near 2018 lows as traders eye more US stimulus; sterling sheds [...]

[Reuters] Most of California to be under stay-at-home orders as COVID-19 surges [CNN] Tens of millions in California under stay-at-home order starting Sunday night [Yahoo/Bloomberg] Year’s Final Stretch to Be a Lively One: U.S. Credit [...]

[AP] California on the brink: Virus rages and closures imminent [Reuters] Wall Street Week Ahead: After blazing energy rally, investors check the fuel gauge [Reuters] Federal student loan payments suspended until end of January [Reuters] [...]

November non-farm payrolls gained 245,000, only about half the mean forecast – and down from October’s 610,000. It was the weakest job growth since April’s employment debacle. U.S. equities rallied on the disappointing news. A [...]

The Markets Grow Hopeful As optimism grows around the rapid approval and distribution of a COVID-19 vaccine, the markets grow increasingly confident. They continue to climb the proverbial “wall of worry” despite mixed to [...]

[Yahoo/Bloomberg] Stocks Higher After November Jobs Report: Markets Wrap [Reuters] Dollar hits two-and-a-half-year low on risk-on trades, shares buoyant [CNBC] Employment growth slows sharply in November amid coronavirus surge [Reuters] Analysis: As stocks soar, government [...]

[Yahoo/Bloomberg] Global Stocks Edge Up to Record Highs; Dollar Dips: Markets Wrap [Reuters] S&P 500 flat as vaccine cheer offsets high jobless claims [Yahoo/Bloomberg] Dollar Is Dropping to Multi-Year Lows Against Peers, One by One [...]

[Yahoo/Bloomberg] U.S. Stocks Dip; Pound Slides on Brexit Angst: Markets Wrap [Reuters] Dollar clambers off two-and-a-half-year low, risk currencies take breather [Reuters] U.S. private payrolls miss expectations in November: ADP [CNBC] Mortgage demand from homebuyers [...]

[Yahoo/Bloomberg] Stocks Bounce Back; Dollar Slips: Markets Wrap [Reuters] After 4.2 million COVID-19 cases in November, U.S. pins hope on vaccine [CNN] Biden readies major stimulus push and flurry of executive actions in first 100 [...]

[CNBC] Stocks fall as Wall Street is set to wrap up a historic November [Reuters] Shares take a breather after stellar month, China data upbeat [Yahoo/Bloomberg] Dollar’s Slump Thrusts Currency Peers to Brink of New [...]

[CNBC] Congress stalled on stimulus talks and time is running out as millions face a ‘benefits cliff’ [CNBC] Black Friday shopping in stores craters 52% during pandemic as e-commerce sales surge [Yahoo/Bloomberg] Eerie Calm in [...]

[AP] With no action by Washington, states race to offer virus aid [CNBC] Los Angeles issues stay-home order as coronavirus cases surge out of control [Yahoo] The US could face an 'apocalypse’ by Christmas as [...]

Feeling More Secure, Investors Take On More Risk As we digest our Thanksgiving turkey, we are also digesting what has become a significant market rotation. At least some of the near-term certainty around the [...]

The U.S. Goods Trade Deficit jumped to a then record $76 billion back in July 2008. A few short months later, financial chaos unleashed the “great recession” economic crisis. Traditionally, large trade deficits are evidence [...]

[Reuters] Stocks edge higher after Thanksgiving holiday [Yahoo/Bloomberg] Caution Sets in for Stock Market; Treasuries Climb: Markets Wrap [Reuters] Dollar edges down, set for weekly loss; kiwi having best month since 2013 [Yahoo/Bloomberg] Oil Rally [...]

[Yahoo/Bloomberg] Stock Rally Pauses as European Cyclicals Retreat: Markets Wrap [Reuters] World shares hold close to record highs; U.S. markets close for Thanksgiving [Yahoo/Bloomberg] Bitcoin Plunges Along With Other Coins [Reuters] America celebrates scaled-back Thanksgiving [...]

[AP] Global stocks edge lower after Dow crests 30,000 [Reuters] Dollar under pressure as risk appetite stages a comeback [Yahoo/Bloomberg] Stocks on Track for Record Month; Treasuries Dip: Markets Wrap [Axios] Scoop: Israeli military prepares [...]

[Reuters] Stocks rise as Biden transition, vaccine progress lift confidence [Yahoo/Bloomberg] Cyclicals Lead Global Stocks Higher; Dollar Drops: Markets Wrap [Reuters] Oil hits highest since March collapse on vaccine, Biden transition [Reuters] ‘We’re drowning’: COVID [...]

[Yahoo/Bloomberg] U.S. Stocks Rise on Vaccine Hopes; Dollar Weakens: Markets Wrap [Reuters] Vaccine progress lift stocks, dollar still sickly [Reuters] Dollar Falls to 2018 Lows as Vaccine Progress Fuels Risk Demand [Reuters] Oil prices extend [...]

[CNN] Nearly a quarter of all the coronavirus cases in the US were reported in November [Yahoo/Bloomberg] Busy Week for U.S. Economy Builds to Black Friday: Eco Week [Yahoo/Bloomberg] ‘Big War’ in Bonds Escalates as [...]

[Reuters] G20 to discuss post-pandemic world, back debt relief [Reuters] Mnuchin clawback of Fed funds 'deeply irresponsible,' Biden team says [Reuters] Analysis: Fed faces ill political winds as Biden prepares for White House [Reuters] Explainer: [...]

November 18 – Reuters (Rodrigo Campos): “Global debt is expected to soar to a record $277 trillion by the end of the year as governments and companies continue to spend in response to the COVID-19 [...]

[Yahoo/Bloomberg] Stocks Mixed; Europe Stocks Rise on Cyclicals: Markets Wrap [Reuters] Stocks gains curbed by end of Fed stimulus, virus concerns [Yahoo/Bloomberg] Mnuchin-Powell Split Shows Rare Discord as Economy Struggles [Yahoo/Bloomberg] ‘Scary’ Winter of Lockdowns [...]

[Yahoo/Bloomberg] U.S. Stock Rise; Bitcoin Tops $18,000: Markets Wrap [Reuters] Dollar under pressure as vaccine hopes get tested [Yahoo/Bloomberg] China’s Credit Jitters Deepen a Selloff in Government Bonds [AP] Pfizer: COVID-19 shot 95% effective, seeking [...]

[Yahoo/Bloomberg] Global Stocks Fall on Virus Angst; Pound Gains: Markets Wrap [Reuters] S&P, Dow retreat as coronavirus cases spike; Tesla surges [Reuters] Dollar nurses losses amid worries about second coronavirus wave, Biden transition [Reuters] U.S. [...]

[Yahoo/Bloomberg] U.S. Stocks Rise on Vaccine News; Bonds Decline: Markets Wrap [Reuters] World stocks head for record high on recovery, vaccine hopes [Reuters] Moderna trial success gives world more hope in race to end pandemic [...]

[AP] ASEAN, China, other partners sign world’s biggest trade pact [Politico] An Unprecedented Election—and Its Bitter Aftermath—Seen from Across the Country [AP] Violent clashes in DC after Trump backers’ election protest [Yahoo/Bloomberg] Asian Borrowers Close [...]

[CNBC] U.S. reports record Covid hospitalizations as states roll out restrictions ahead of holidays [Reuters] Wall Street Week Ahead: Stock investors cast wary eye on yield rally [Reuters] Biden aide says no U.S.-wide COVID lockdown [...]

The “average stock” Value Line Arithmetic Index jumped 6.4% for the week. The NYSE Arca Oil Index surged 19.8%, with the Philadelphia Oil Services Index up 17.4%. The KWB Bank Index rose 11.5%, as the [...]

Here’s the news of the week – and how we see it here at McAlvany Wealth Management: Turbulence in the Face of Uncertainty Last week’s volatility spilled into this week as earnings season wound [...]

[Reuters] Futures bounce back as Cisco, Disney jump after results [Reuters] Global stocks flatline, bond yields slide as caution replaces vaccine euphoria [Reuters] Oil falls on coronavirus surge but on track for weekly gain [Yahoo/Bloomberg] [...]

[CNBC] Stocks lower after Nasdaq’s comeback session [Yahoo/Bloomberg] Global Equity Rally Slows as Treasuries Advance: Markets Wrap [Reuters] Stocks bulls halt their charge [Reuters] Dollar dips, euro bumps higher as sentiment see-saws [Reuters] Shanghai overnight [...]

[Reuters] Nasdaq rises 1% as tech stocks snap back [Reuters] Stocks up as vaccine shields against second-wave worries [Reuters] Dollar gains back strength as vaccine optimism wanes [AP] Bidenomics: More stimulus, tougher regulation, and [...]

[Reuters] S&P 500 dips after vaccine news rally [Yahoo/Bloomberg] Global Stock Rally Tempers After Vaccine Euphoria: Markets Wrap [Reuters] Biden may face pressure to reshape Powell's Fed in first year [Reuters] Central bankers seek new [...]

[Yahoo/Bloomberg] Stocks Surge as Pfizer Vaccine Study Adds to Biden Win [Yahoo/Bloomberg] Lockdown Winners Fade as Reopen Trade Roars After Covid Data [Reuters] Banks, airlines surge after Pfizer COVID-19 vaccine news [Reuters] Oil Jumps by [...]

[AP] Biden promotes unity, turns to business of transition [Reuters] Biden returns to battle another economic crisis, but it's no Great Recession [Reuters] Analysis: Clouds gather over battered dollar in aftermath of U.S. election\ [Yahoo/Bloomberg] [...]

[Reuters] Wall Street Weekahead: Small caps join market rally but pandemic could derail them [CNBC] McConnell and Pelosi are once again at odds over the size of a coronavirus stimulus package [Reuters] U.S. daily coronavirus [...]

We’ve grown accustomed to the “new normal”: Stock market ebullience even as the country suffers through a distressing confluence of hardships. The S&P500 surged 7.3% this week, the strongest weekly advance since April. Though the [...]

Here’s the news of the week – and how we see it here at McAlvany Wealth Management: Biden – Good for Oil? As we write this, it is indeed Groundhog Day in the sense [...]

[AP] Biden ahead in Georgia, Pennsylvania; Trump attacks process [Reuters] Stocks mixed as balance tilts to Biden in U.S. election [Reuters] Dollar steadies, but more losses seen on post-election policy outlook [Yahoo/Bloomberg] Gold Set for [...]

[Yahoo/Bloomberg] Tech Rebound Powers Stocks Higher; Treasuries Rise: Markets Wrap [Reuters] Dollar set for biggest three-day drop since March before Fed decision [Reuters] Gold bounces on dollar retreat as markets weigh prospect of Biden win [...]

[Reuters] With U.S. presidential election too close to call, Biden bats away Trump victory claim [Yahoo/Bloomberg] Trump-Biden Election Fight May Be Too Close to Call for Days [Politico] What you need to know about the [...]

[CNBC] Dow futures rise more than 100 points ahead of U.S. Election Day [Reuters] Asian shares in broad-based rally on eve of U.S. election [Reuters] Oil falls as COVID-19 cases soar, Libya output jumps [Axios] [...]

[Yahoo/Bloomberg] Stocks Surge and Dollar Drops on U.S. Election Day: Markets Wrap [Reuters] Dollar dips to price Biden win on U.S. election day [Reuters] European shares rise as investors bet on clear Biden poll win [...]

[Yahoo/Bloomberg] Mideast Stocks Slump on Lower Oil, U.S. Election Risk: Inside EM [AP] GOP tries to save its Senate majority, with or without Trump [Yahoo/Bloomberg] U.S. Faces Biggest Week of 2020 With Election, Fed, Jobs [...]

[CNBC] Election 2020 live updates: Trump barnstorms Pennsylvania, Biden and Obama campaign in Michigan as campaign enters final weekend [Reuters] Wall Street Week Ahead: Big tech stocks may face post-election headwinds, no matter who [...]

We’re now only a few days from the most pivotal of elections. Meanwhile, new U.S. Covid infections have surged to pandemic highs (Friday surpassing 100,000 on worldometers), with the virus running rampant throughout the country. [...]

Here’s the news of the week – and how we see it here at McAlvany Wealth Management: A Difficult Week An ebullient market environment has rapidly turned chaotic. The confluence of new COVID lockdowns [...]

[Yahoo/Bloomberg] Stocks Drop on Tech Worry; Europe Stocks Waver: Markets Wrap [Reuters] World stocks take fresh dip as COVID infection rate weighs [Yahoo/Bloomberg] Oil Set for Worst Month Since March as Virus Revival Cuts Travel [...]

[Reuters] Global stocks steady after second-wave turmoil [Yahoo/Bloomberg] U.S. Stocks Higher After GDP, Jobs Data: Markets Wrap [Yahoo/Bloomberg] Oil Falls to Four-Month Low as Renewed Lockdowns Menace Demand [Reuters] Dollar extends gains, commodity currencies slump, [...]

[Yahoo/Bloomberg] Europe Stocks Tumble to 5-Month Low; U.S. Stocks Slide: Markets Wrap [Reuters] Global stocks sink as coronavirus lockdowns loom [Yahoo/Bloomberg] Oil Slumps With Europe’s Coronavirus Restrictions Growing [Yahoo/Bloomberg] Europe Is Leading the Way Down [...]

[CNBC] Stocks rise as market tries to rebound from Monday’s big sell-off [Reuters] Dollar struggles as U.S. election uncertainty offsets COVID-19 concerns [Reuters] White House says COVID-19 aid deal seen 'in coming weeks' [CNBC] Home [...]

[Reuters] Stocks dip on surging virus cases, stimulus doubts [Yahoo/Bloomberg] Tech Leads Retreat in Stocks; Dollar Strengthens: Markets Wrap [Reuters] Turkish lira hits new lows on policy, geopolitical concerns [Yahoo/Bloomberg] Oil Slumps Below $39 on [...]

[Yahoo/Bloomberg] Saudi Index Drops Most Since May in Final-Hour Slump: Inside EM [AP] Surging coronavirus colors White House race in closing days [Reuters] U.S. disease expert Fauci says vaccine verdict due by early December [Yahoo/Bloomberg] [...]

[Yahoo Finance] How the 6 swing states will play in the election and in the markets [CNN] Daily Covid-19 cases will hit six digits soon, expert warns, as US reports a one-day high of more [...]

A most pivotal election is now only 10 days away. Joe Biden has a commanding lead in the polls. Moreover, betting sites are indicating rising odds of the Democrats taking control of the Senate (PredictIt: [...]

Here’s the news of the week – and how we see it here at McAlvany Wealth Management: Watching the Horizon Through Rough Waters Once in a while, we will take our morning coffee and [...]

Tactical Short Strategy Conference Call - October 22, 2020 Disclaimer: Advisory services are offered by McAlvany Wealth Management, an investment adviser registered with the U.S. Securities and Exchange Commission. The comments [...]

[Yahoo/Bloomberg] U.S. Stocks Fluctuate With Intel Taking Tech Lower: Markets Wrap [Reuters] Global stocks bide time as U.S. election caution sets in [Reuters] Oil above $42 as possible OPEC+ cut extension offsets demand concern [Yahoo/Bloomberg] [...]

[Reuters] Global markets: Sentiment sapped by COVID surge, stimulus stalemate [Yahoo/Bloomberg] Stocks Drop, Dollar Gains on Election Interference: Markets Wrap [Yahoo/Bloomberg] Lira Tumbles After Central Bank Defies Rate-Hike Bets [Reuters] Oil struggles to recover after [...]

[Reuters] Stocks mixed as investors focus on U.S. stimulus [Yahoo/Bloomberg] Treasuries Slump With Dollar Amid Stimulus Bets: Markets Wrap [Reuters] Yuan hits 27-month high on PBOC guidance, upbeat data [CNBC] Mortgage demand from homebuyers falls [...]

[Reuters] Wall Street gains as deadline for fresh stimulus looms [Yahoo/Bloomberg] Oil Slides With OPEC+ Warning of Precarious Market Outlook [Reuters] Pelosi, Mnuchin push coronavirus relief talks as U.S. Senate votes on limited bill [Yahoo/Bloomberg] [...]

[CNBC] Stocks rise as traders weigh rising coronavirus cases, U.S. stimulus talks [Reuters] Vaccine hopes drive stocks higher on 'Black Monday' anniversary [CNBC] Treasury yields jump amid renewed stimulus hopes [Reuters] Time’s up: After a [...]

[Reuters] U.S. Speaker Pelosi says differences remain on testing language in coronavirus relief [Reuters] Senate to vote this week on 'skinny' pandemic relief bill, PPP funds [Reuters] Fed officials call for tougher regulation to prevent [...]

[Reuters] Coronavirus spending pushes U.S. 2020 fiscal year deficit to record $3.132 trillion [CNBC] U.S. is staring down a ‘substantial third wave’ of coronavirus cases. Here are the numbers [Yahoo/Bloomberg] U.S. Adds Most Cases Since [...]

Here’s the news of the week – and how we see it here at McAlvany Wealth Management: Backing and Filling Before the Election Earnings season kicked off this week. However, the real focus for [...]

Please join Doug Noland and David McAlvany this Thursday, October 22nd, at 4:00pm Eastern/ 2:00pm Mountain time for the Tactical Short Q3 recap conference call, “Managing Short Exposure in Extreme Uncertainty.” Click here to register. [...]

[Reuters] Stocks climb on vaccine hopes, upbeat retail sales data [Reuters] Markets on edge as pandemic resurgence meets U.S. stimulus hopes [Reuters] Oil falls as possible OPEC+ supply boost, COVID-19 spike weigh on sentiment [Reuters] [...]

[Yahoo/Bloomberg] Stocks Sink on Despair Over Stimulus, Virus Curbs: Markets Wrap [Reuters] Europe tumbles 2% on COVID curbs and Brexit impasse [Reuters] Oil slides as new lockdown measures threaten demand recovery [CNBC] Jobless claims jump, [...]

[Reuters] Shares steady with U.S. bank earnings in sight [Reuters] Oil under pressure as coronavirus spike stokes demand concerns [Reuters] U.S. producer prices accelerate in September [CNBC] Mortgage rates set yet another record low, [...]

[Yahoo/Bloomberg] Stocks Edge Lower as Earnings Roll In; Bonds Gain: Markets Wrap [Reuters] Shares struggle as coronavirus overshadows China data [Reuters] U.S. consumer prices slow in September [Reuters] U.S. small business confidence at highest since [...]

[Reuters] Stimulus bets prop up S&P, Nasdaq [Reuters] Stocks boosted by stimulus hopes and China's post-holiday surge [Reuters] Yuan set for biggest daily fall since March; dollar index edges up [Reuters] Oil prices extend losses [...]

[Reuters] Wall Street Week Ahead: U.S. earnings improvement expected, but still a weak quarter [Yahoo Finance] Earnings season starts with big banks: What to know in the week ahead [Yahoo/Bloomberg] The Next Big Shift [...]

[Yahoo/Bloomberg] Trump’s Hurdles to Stimulus Climb After Abrupt Tactical Shift [Reuters] U.S. COVID-19 cases hit two-month high, 10 states report record increases [CNBC] Tight race between Joni Ernst and Theresa Greenfield in Iowa could determine [...]

Please join Doug Noland and David McAlvany Thursday, October 22nd, at 4:00PM Eastern/ 2:00pm Mountain time for the Tactical Short Q3 recap conference call, “Managing Short Exposure in Extreme Uncertainty.” Click here to register. The [...]

Here’s the news of the week – and how we see it here at McAlvany Wealth Management: Sorrows Come Not Single Spies, but in Battalions The World Bank projects that global growth will decline [...]

[Yahoo/Bloomberg] U.S. Stocks Rise as Stimulus Talks Weighed: Markets Wrap [Reuters] Stocks surge as hopes grow for U.S. stimulus [Reuter] Dollar falls as likelihood of a Biden victory grows; yuan gains [Yahoo/Bloomberg] White House Open [...]

[Yahoo/Bloomberg] Stocks Advance on Stimulus Hopes; Dollar Weakens: Markets Wrap [Yahoo/Bloomberg] Oil Gains Above $40 With Hurricane Delta Threatening Gulf Output [Yahoo/Bloomberg] Trump Touts Progress in Stimulus Talks Days After Spiking Them [Reuters] U.S. [...]

[Reuters] Stocks bounce after worst session for S&P 500, Dow in two weeks [Reuters] Oil prices slide as Trump cancels aid talks, U.S. crude stocks expand [CNBC] Trump reverses course on coronavirus relief talks, dangles [...]

[Yahoo/Bloomberg] Stocks Mixed Before Powell; European Stocks Gain: Markets Wrap [Reuters] Stocks inch to two-week high after Trump leaves hospital [Reuters] Oil prices gain on supply disruptions, Trump's hospital exit [Reuters] U.S. trade deficit jumps [...]

[Reuters] Wall Street jumps on stimulus hopes, hints of Trump hospital discharge [Reuters] Global stocks rise as signs of Trump's improving health calm markets [CNBC] Trump and medical team will decide later Monday whether he’s [...]

[Reuters] Trump's diagnosis fuels uncertainty for skittish U.S. stock market [CBS] Live updates: Trump's doctor says he's "not out of the woods," but "cautiously optimistic" [Reuters] Coronavirus live updates: Trump is ‘not yet out of [...]

[Reuters] Trump to spend days at military hospital after COVID-19 diagnosis [CNBC] Ron Johnson is the third Republican senator to test positive for coronavirus in two days [CNBC] ‘Massively concerning’ jobs report sends a signal [...]

It significantly raises the stakes for a potential nightmare scenario: with less than five weeks until election day, the President contracts COVID-19. As if this election cycle wasn’t chaotic enough. As CNN put it: “A [...]

[CNN] President Donald Trump tweets he and first lady Melania Trump test positive for Covid-19 [Reuters] Stocks sink as Trump tests positive for COVID-19 [Reuters] Oil drops 4% after Trump's positive coronavirus test [CNBC] U.S. [...]

[Yahoo/Bloomberg] Stocks Climb on Stimulus Hopes: Markets Wrap [Reuters] Global shares extend gains on U.S. stimulus, upbeat data [Reuters] Dollar gives ground as hopes of US stimulus leads traders to riskier currencies [Reuters] White House [...]

[Reuters] Global stocks pull back as acrimonious U.S. debate stokes caution [Reuters] Oil extends losses as rising virus cases spur demand worries [Reuters] Dollar holds line after Trump, Biden clash in first debate [Reuters] Chaotic [...]

[CNBC] U.S. stocks little changed following Monday’s rally [CNBC] Shares lose ground as U.S. presidential debate looms [Reuters] U.S. goods trade deficit widens in August [CNBC] Coronavirus live updates: Death toll exceeds 1 million people [...]

[Reuters] Banks, travel stocks lead Wall Street higher [Reuters] Stocks bounce as China industrial profits rise [Yahoo/Bloomberg] Oil Erases Losses With Dollar Falling But Uncertain Demand Looms [Yahoo/Bloomberg] JPMorgan Says Usual Hedges Aren’t Working as [...]

[Reuters] Rise in virus cases adds to economic uncertainty ahead of U.S. election [CNBC] Fewer than 10% of Americans show signs of past coronavirus infection, study finds [Reuters] BoE's Tenreyro says evidence on negative rates [...]

[Reuters] Wall Street Week Ahead: Trump-Biden debate could spark stock volatility [Reuters] Trump says U.S. election winner might not be known for months [Reuters] Rise in virus cases adds to economic uncertainty ahead of U.S. [...]

The numbers are just monstrous. The Fed’s own data illuminate the historic Monetary Disorder that today runs wild. The Federal Reserve’s balance sheet. Treasuries. Debt and Equities Securities. The banking system. The Household balance sheet. [...]

Here’s the news of the week – and how we see it here at McAlvany Wealth Management: Parsing the Correction The markets have entered a corrective phase as they look ahead. Uncertainty looms around [...]

[Yahoo/Bloomberg] U.S. Stocks Drop With Europe; Bonds Gain: Markets Wrap [Reuters] Global stocks set for dire week, best for dollar since April [Reuters] Dollar back in demand, set for biggest weekly surge since early April [...]

[Reuters] Shares slide, dollar up as hopes of economic recovery fade [Reuters] Dollar holds advantage as money flees from risk assets [Reuters] Oil falls on fuel demand growth concerns as coronavirus lingers [Reuters] U.S. weekly [...]

[Reuters] Asian stocks struggle to build on Wall Street gains, dollar rises [Reuters] Oil falls after surprise rise in U.S. crude inventories [Reuters] China has no reason to approve 'dirty' TikTok deal: China Daily [Reuters] [...]

[Yahoo/Bloomberg] Stocks Rise as Tech Gain Tempers Virus Woes: Markets Wrap [Yahoo/Bloomberg] China Sets Weaker Yuan Fix in First Sign Record Rally May Slow [Reuters] Dollar bounceback pauses, Aussie and Kiwi regain lost ground [Reuters] [...]

[Yahoo/Bloomberg] Stocks Tumble Most Since July; Treasuries Rise: Markets Wrap [Yahoo/Bloomberg] Treasuries Rally After Jump in Virus Cases Risks Fresh Lockdowns [CNBC] Deutsche Bank, JPMorgan lead drop in financial shares amid report the banks moved [...]

[Yahoo/Bloomberg] World’s Central Banks Adjust to Fed Three-Year Plan: Week Ahead [Reuters] If U.S. election winds up in Supreme Court, Ginsburg's death will loom large [Yahoo/Bloomberg] Powell Calling New Rate Road Map ‘Powerful’ Doesn’t [...]

[Reuters] Wall Street Weekahead: Corporate debt frenzy rolls on as worries loom over markets [Reuters] Amid mourning for Ginsburg, fierce battle over U.S. Supreme Court looms [AP] AP Explains: What happens with the Supreme Court [...]

September 17 – Wall Street Journal (Greg Ip): “Can words take the place of actions? The Federal Reserve hopes so. On Wednesday it issued a policy statement promising to get inflation above 2%. In their [...]

Here’s the news of the week – and how we see it here at McAlvany Wealth Management: Trump, Biden, and Markets There is always risk around election season, but perhaps never as great as [...]

[CNBC] U.S. stocks are mixed after Dow snaps a 4-day winning streak [Reuters] Global stocks weighed down by virus angst, lack of stimulus [Reuters] Oil prices fall after Haftar signals Libya output to resume [Reuters] [...]

[Reuters] Stocks buckle, dollar stirs as divided Fed disappoints [Yahoo/Bloomberg] Stocks Fall, Bonds Gain as Recovery Risk Lingers: Markets Wrap [Reuters] Oil steady as demand worries revive, crews return to U.S. Gulf rigs [Reuters] U.S. [...]

[Reuters] Wall Street higher as focus turns to Fed meet [Reuters] Shares rally, dollar falls ahead of Fed meeting [Reuters] Dollar falls as markets increase bets on more Fed easing [Reuters] China lifts yuan midpoint [...]

[Reuters] Wall Street higher ahead of two-day Fed meet [Reuters] Gold gains as dollar softens ahead of Fed meeting [Reuters] Yuan extends gains to 16-month high as China data boosts risk appetite [AP] Federal Reserve [...]

[CNBC] Stocks jump as Wall Street tries to recover after tech struggles [Reuters] Vaccine hopes lift world stocks, but caution creeps in [Yahoo/Bloomberg] Oil Falls Near $37 With Demand in Focus Before OPEC+ Meeting [CNBC] [...]

[AP] What’s next? Devastating fires are latest challenge in West [Reuters] Japan's Suga says no limit to bonds government can issue [Reuters] Argentina's Guzman says seeking payment pause with IMF until 2024 - report [Reuters] [...]

[Reuters] Wall Street Week Ahead: Fed meeting in focus as stocks wobble and coronavirus bill stalls [AP] US budget deficit hits record $3 trillion through 11 months [Reuters] Japan's Suga, likely next PM, says ready [...]

New data released Friday confirm ongoing historic Chinese Credit excess. Total Aggregate Financing increased (a ridiculous) $524 billion during August to $40.5 TN, doubling July’s growth and exceeding estimates by almost 40%. It was the [...]

Here’s the news of the week – and how we see it here at McAlvany Wealth Management: Another Rough Week Yields Mixed Results The market pullback has continued into this week as investors begin [...]

[Reuters] Stocks rebound as tech rises; Oracle delivers strong quarter [Reuters] Shares struggle to shake off bearish mood as U.S. tech giants fall anew [Reuters] Oil drops on higher inventories, weak U.S. stock markets [Reuters] [...]

[Reuters] Stocks struggle after tech reboot, euro in ECB crosshairs [CNBC] Weekly jobless claims miss estimates as employment gains taper off [Yahoo/Bloomberg] Meltdown Memories Grip Southeast Asia Stocks as Indonesia Slumps [CNBC] European Central Bank [...]

[Reuters] Stocks bounce after tech rout sends Nasdaq into correction [Reuters] Shares resilient after U.S. tech sell-off, vaccine trial delay [Reuters] Oil prices reverse some losses but demand concerns persist [Reuters] U.S. readies bans [...]

[CNBC] Nasdaq futures drop 3% as tech sell-off continues, Dow futures fall 250 points [Reuters] Stocks struggle as tech remains fragile, pound slides [Reuters] Oil slides over 3% to lowest since June on demand fears [...]

[Yahoo/Bloomberg] Nasdaq Futures Resume Declines With Valuation Angst Lingering [Yahoo/Bloomberg] British Pound Plummets After Specter of a No-Deal Brexit Returns [Reuters] With big tech on holiday, world shares inch higher [Reuters] Oil falls after Saudi [...]

[Reuters] Wall St Week Ahead-U.S. stock market surge may run into scary September [CNBC] U.S. considers blacklisting China’s largest chipmaker as tech tensions escalate [Reuters] California grid operator warns of rotating power outages in record [...]

Here’s the news of the week – and how we see it here at McAlvany Wealth Management: A Rough Week in a Hard Year A week that started out manifesting the same sort of [...]

[CNBC] The stock market shakeout is likely not over yet, even with Friday’s comeback [Reuters] Japan's Suga signals ultra-easy monetary policy to continue [Reuters] Masked men drag protesting Belarusian students off the streets [WSJ] Voters [...]

QE fundamentally changed finance. What commenced at the Federal Reserve with a post-mortgage finance Bubble, $1 TN Treasury buying operation morphed into open-ended purchases of Treasuries, MBS, corporate bonds and even corporate ETFs holding high-yield [...]

[Yahoo/Bloomberg] U.S. Stocks Trade Mixed After Jobs Report: Markets Wrap [Reuters] Asian stocks slip after Wall Street selloff dents tech rally [Reuters] U.S. job growth slows in August, unemployment rate falls to 8.4% [CNBC] [...]

[Reuters] Stocks dip as Wall Street takes a breather after a strong start to September [Reuters] Dollar gains further on worries ECB grew uncomfortable with euro rise [Yahoo/Bloomberg] Oil Drops Again With OPEC Supply and [...]

[Reuters] Stocks climb as recovery hopes gather strength [Reuters] Dollar extends gains, Aussie lags, euro backtracks from $1.20 high [Reuters] U.S. private payrolls increase modestly in August: ADP [CNBC] Mortgage demand from homebuyers is now [...]

[Yahoo/Bloomberg] U.S. Stocks Climb as Dollar Touches Two-Year Low: Markets Wrap [Yahoo/Bloomberg] Gold Rebounds Toward $2,000 After Dollar Drops to Two-Year Low [Reuters] Dollar dumped on rate outlook, Aussie looks to RBA [Yahoo/Bloomberg] Yuan’s Jump [...]

[Yahoo/Bloomberg] U.S. Equities Fluctuate; Bonds Decline: Markets Wrap [Reuters] Stocks set for five months of gains as stimulus fuels highs [AP] Uncertainty dominates presidential campaign’s final stretch [Yahoo/Bloomberg] Insider Trading Is Rife With No Regulators [...]

[Reuters] What's next as Japan PM Abe quits, potential successors [Reuters] China's big banks brace for lagging COVID-19 risks as bad loans rise [AP] India records world’s biggest single-day jump in virus cases [Bloomberg] TikTok [...]

[Reuters] White House suggests $1.3 trillion coronavirus aid bill; Pelosi says not enough [Reuters] Turkey to hold military exercise off Cyprus amid Mediterranean tensions [Reuters] Xi says China to step up efforts to fight 'splittism' [...]

The Wall Street Journal referred to a “a milestone” – “a major shift in how [the Fed] sets interest rates by dropping its longstanding practice of preemptively lifting them to head off higher inflation.” The [...]

Here’s the news of the week – and how we see it here at McAlvany Wealth Management: Will Energy Rise from the Ashes? Amidst the so-called summer market doldrums this week, a quiet but [...]

[CNBC] Stocks rise to end the week as Dow tries to erase losses for 2020 [Reuters] Yen surges as Japan's Abe quits, stocks mixed after Fed shift [Yahoo/Bloomberg] Gold Rebounds on Weaker Dollar as Investors [...]

[CNBC] Dow rises by 100 points as Fed announces new inflation approach that could keep rates low [Reuters] Rouble slides again as Putin says Belarus asked for help [CNBC] Powell announces new Fed approach to [...]

[Yahoo/Bloomberg] Stocks Fluctuate Near Record Highs; Dollar Gains: Markets Wrap [CNBC] U.S. core capital goods orders slow in July from prior month, while durable goods orders surge 11.2% [Reuters] Framework review complete, Fed's Powell starts [...]

[Yahoo/Bloomberg] U.S. Stocks Climb on Trade Optimism: Markets Wrap [Reuters] Asian stocks mostly higher as trade, virus treatment hopes lift mood [Reuters] As uncertainty threatens U.S. growth, Fed seeks more firepower [Reuters] China agrees with [...]

[Yahoo/Bloomberg] Stocks Rally on Vaccine Hopes; Dollar Weakens: Markets Wrap [Reuters] Global stocks thrive on coronavirus treatment hopes [Reuters] Dollar falls, riskier currencies gain, ahead of Republican convention [Reuters] Oil prices steady as 'double [...]

[Reuters] Trump says could 'decouple' and not do business with China [Reuters] California seeks help as wildfires threaten communities [Yahoo/Bloomberg] The Day California Went Dark Was a Crisis Years in the Making [Bloomberg] Bond Traders [...]

[Reuters] California governor calls wildfires 'deadly moment,' urges residents to flee [Reuters] Wall Street Week Ahead: No elk or trout, but Fed's virtual retreat may stoke market's 'animal spirits' [WSJ] Covid-19 Is Dividing the American [...]

The Nasdaq100 (NDX) jumped another 3.5% this week, increasing 2020 gains to 32.3%. Amazon gained 4.3% during the week, boosting y-t-d gains to 77.8% – and market capitalization to $1.626 TN. Apple surged 8.2% this [...]

[Yahoo/Bloomberg] Stocks Lose Oomph; Bonds Gain With Dollar: Markets Wrap [Reuters] Waning European recovery saps stocks momentum, knocks euro [Reuters] Euro sinks as business rebound stutters in August [Yahoo/Bloomberg] Oil Extends Decline With Demand Headwinds [...]

[Yahoo/Bloomberg] Stocks Slide, Bonds Rise After Jobs Data: Markets Wrap [Yahoo/Bloomberg] Traders Dump TSMC, Samsung in Worst Day in Asia Tech Since March [Reuters] Oil and stocks fall as markets still rattled by Fed minutes [...]

[Reuters] Shares gain as Wall Street record outweighs jitters over growth [Reuters] Dollar struggles near 27-month lows as Fed minutes eyed [Reuters] Oil slips as demand worries outweigh U.S. stocks draw [Reuters] U.S. official sees [...]

[Yahoo/Bloomberg] U.S. Stocks Climb on Housing Data; Dollar Slips: Markets Wrap [Reuters] Gold climbs back above $2,000/oz level as dollar slides [Reuters] Dollar touches more than 2-year low as traders push euro longs to record [...]

[Yahoo/Bloomberg] U.S. Stocks Rise With Europe Stocks; Metals Climb: Markets Wrap [Reuters] Europe stuck on the ground as China markets jump [Reuters] Dollar on defensive as markets eye U.S. politics, Fed minutes [CNBC] Pelosi to [...]

Here’s the news of the week – and how we see it here at McAlvany Wealth Management: The Once and Future Shakeup in Oil and Gas Although there are stocks and entire sectors making [...]

[Reuters] Wall Street Week Ahead: Biden victory? Disputed election? Wall Street prices in November outcomes [CNBC] ‘It’s nerve-racking’ — Millions of Americans are still furloughed and unsure when they will return to work [Reuters] Exclusive: [...]

A “sloppy” auction saw 30-year Treasury yields surge 21 bps this week to 1.45%, an almost seven-week closing high.  Ten-year Treasury yields jumped 14 bps to 0.71%, while benchmark MBS yields rose 17 bps to [...]

[Reuters] Wall Street retreats as China data disappoints [Reuters] World shares sink as data points to tepid economic revival [Reuters] Dollar steadies, index heads for worst weekly run in decade [Reuters] Euro zone bonds sell-off [...]

[Reuters] Wall Street edges up as weekly jobless claims drop [Yahoo/Bloomberg] Gold Advances After Wild Swings as Investors Weigh Next Steps [CNBC] U.S. weekly jobless claims fell to 963,000, first time below 1 million [...]

[Reuters] Global stocks shake off stimulus doubts, gold goes wild [Yahoo/Bloomberg] Gold’s Wild Ride Continues as Prices Bounce Back [Reuters] U.S. consumer prices accelerate in July [CNBC] Another record low mortgage rate juiced weekly demand, [...]

[Reuters] U.S. S&P500 heads for record high as stimulus bets lift world stocks [Yahoo/Bloomberg] Stocks Jump Worldwide While Dollar Drops With Gold: Markets Wrap [Reuters] U.S. producer prices beat expectations in July [Reuters] China's [...]

[Reuters] Shares edge up as positive China industrial data outweighs trade jitters [MarketWatch] Gold rises as China-U.S. tensions escalate [Reuters] Oil climbs on positive China data, rising demand [Reuters] Pelosi, Mnuchin open door to narrower [...]

[CNBC] Trump signs measure to provide extra $400 in weekly unemployment benefits [AP] Trump orders encroach on Congress’ powers, invite challenges [AP] US reaches 5 million confirmed coronavirus cases [Reuters] U.S. health chief arrives in [...]

Understandably, attention remains focused on the dominant U.S. tech stocks, record highs in Nasdaq, sector rotation opportunities, and the Robinhood phenomenon. It’s a mania, after all. There are as well stimulus negotiations and the administration’s [...]

Understandably, attention remains focused on the dominant U.S. tech stocks, record highs in Nasdaq, sector rotation opportunities, and the Robinhood phenomenon. It’s a mania, after all. There are as well stimulus negotiations and the administration’s [...]

Here’s the news of the week - and how we see it here at McAlvany Wealth Management: When Safety Is Dangerous Earnings season is beginning to wind down, and the impression we get from [...]

[Reuters] Wall Street dips on slowing job growth, U.S.-China tensions [Reuters] Global equities snap four-day rally on U.S.-China frictions; dollar firm [CNBC] Payrolls increase by nearly 1.8 million, topping expectations despite coronavirus resurgence [AP] Virus [...]

[Reuters] Stocks slip as investors wait for U.S. stimulus [Reuters] Gold scales record peak as gloomy economic outlook bolsters appeal [Yahoo/Bloomberg] Turkey’s Lira Hits Record Low as Interventions Fail to Stem Drop [CNBC] U.S. weekly [...]

[Reuters] Gold shines on falling dollar, yields; pandemic cost concerns drag on shares [Yahoo/Bloomberg] U.S. Stocks Climb With European Stocks and Gold: Markets Wrap [CNBC] Asia Pacific stocks mixed as uncertainty over U.S. coronavirus relief [...]

[Reuters] Wall St. dips as U.S.-China tensions heat up over TikTok [Reuters] World shares hit five-month high; mixed earnings knock European shares [AP] ‘A line in the sand’: Both sides dig in on virus relief [...]

[Yahoo/Bloomberg] U.S. Stocks Climb With Europe Stocks; Bonds Drop: Markets Wrap [Reuters] Summer mood swings: markets turn higher on hopes of virus aid [Reuters] Dollar rallies after weakest month in a decade [Yahoo/Bloomberg] Fed [...]

[Reuters] Congressional Democrats, White House still at impasse over coronavirus bill [CNBC] Retail rents plummet across New York City, as America’s glitzy shopping districts turn into ghost towns [AP] As school begins amid virus, parents [...]

Weekly Hard Assets Insights By David McAlvany Earnings season was in full swing for the week ended July 31, 2020.  40 percent of the market cap of the NASDAQ reported after the market close [...]

[Reuters] Congressional Democrats, White House set for Saturday talks on coronavirus bill [AP] Trump, GOP soften on opposition to $600 jobless benefit [Reuters] Wall Street Week Ahead: After monster rally, investors cautious as U.S. recovery [...]

Another fascinating – if not comforting – week. A Friday Wall Street Journal headline: “Big Tech’s Embarrassment of Riches – Amazon, Apple, Facebook and Google all show resilience during pandemic while undergoing congressional scrutiny.” Amazon, [...]

[Yahoo/Bloomberg] Stocks Rise; Gold Hits Record: Markets Wrap [Yahoo/Bloomberg] U.S. Dollar Suffers Its Worst Month in a Decade [Yahoo/Bloomberg] Gold Sets Fresh Record Heading for Best Month in Eight Years [Yahoo/Bloomberg] Bond Yields Are [...]

[Yahoo/Bloomberg] Stocks Retreat as Earnings Roll In: Markets Wrap [Reuters] Stocks fall as Fed's pledge relief rally fades [Yahoo] Donald Trump calls for delay to 2020 US presidential election [AP] US economy shrank at [...]

[Yahoo/Bloomberg] Stocks Mixed Before Fed; Treasuries Keep Advance: Markets Wrap [MarketWatch] Gold edges higher ahead of Fed decision [AP] Fed wrestles with its next moves as virus stalls US economy [Reuters] Fed faces viral wave, [...]

[Reuters] Wall St. slips on tough stimulus talks, mixed earnings [Yahoo/Bloomberg] U.S. Stocks Slip; Gold Retreats From $2,000: Markets Wrap [Reuters] Gold drops off record high, dollar gets respite [Yahoo/Bloomberg] Asian Stocks Pare Advance as [...]

[Reuters] Gold roars to record high, dollar dives again [CNBC] Stocks rise ahead of big week of earnings, coronavirus stimulus in focus [Reuters] Dollar struggles amid Sino-U.S. tensions, coronavirus woes [Yahoo/Bloomberg] Gold Rips Up Record [...]

[Reuters] Staff leaving U.S. Chengdu consulate under high security as deadline looms [CNBC] Here are five charts illustrating U.S. economic trends amid the coronavirus pandemic [CNBC] Op-Ed: The U.S.-China clash has entered perilous new territory [...]

Here’s the news of the week – and how we see it here at McAlvany Wealth Management: Rumors of CV19’s Death are Premature The effects of the COVID-19 crisis are likely to linger for [...]

[AP] No virus bill yet: White House, GOP at odds over jobless aid [Reuters] Wall Street Week Ahead: Investors hedging, worry about exuberance, as U.S. risks rise [Reuters] Record numbers of coronavirus cases in every [...]

The Shanghai Composite traded as high as 3,382 during Tuesday trading, before reversing 5.5% lower to end the week at 3,192. The Shanghai Composite previously surged 16% over eight sessions (June 30th to July 9th), [...]

Tactical Short Strategy Conference Call - July 23, 2020 Q2 Recap Conference Call – July 23, 2020: Good afternoon everyone, thank you for joining us for the second quarter recap conference call.  [...]

[CNBC] Stocks back off on U.S.-China frictions; Intel sinks [CNBC] China markets extend losses, Shenzhen stocks dive beyond 5% as U.S.-China tensions flare [Reuters] World shares retreat on rise in Sino-US tensions [Reuters] Oil [...]

[Reuters] Stocks gain as upbeat earnings outweigh U.S.-China tensions [Reuters] Dollar hits four-month low, yuan recovers as Sino-U.S. tensions simmer [CNBC] U.S. weekly jobless claims total 1.416 million, vs 1.3 million expected [CNBC] Mnuchin says [...]

[Reuters] Stocks retreat as Sino-U.S. relations sour [Reuters] Gold hits highest since 2011 on stimulus bets, silver at near 7-year peak [Reuters] Currency markets resume risk-on rally, shrugging off U.S.-China consulate spat [Reuters] U.S. orders [...]

[Reuters] Wall Street climbs on upbeat earnings reports, stimulus hopes [Reuters] Gold jumps to nine-year peak on tepid dollar and stimulus [Reuters] EU recovery fund lifts shares to five-month high [AP] Senate panel now likely [...]

[Yahoo/Bloomberg] Stocks Mixed Amid Dollar Rise; China Sees Gains: Markets Wrap [Reuters] Euro, euro zone bond markets hold out hope for recovery fund; stocks higher [Reuters] Italian bond yields fall to early March lows on [...]

[Reuters] Germany's Merkel warns of summit failure on EU recovery fund [AP] EU leaders extend summit as they haggle over budget, virus [AP] As virus surges in some US states, emergency rooms swamped [Reuters] WHO [...]

[AP] No end in sight, Congress confronts new virus crisis rescue [AP] Breathtaking virus numbers show normal life still far away [Reuters] Dutch welcome new ideas on EU recovery fund but deal far off [CNBC] [...]

Please join Doug Noland and David McAlvany this coming Thursday, July 23rd, at 4:00PM Eastern/ 2:00pm Mountain time for the Tactical Short Q2 recap conference call, “Confirmation of the Global [...]

[Reuters] Wall Street higher on optimism over economic recovery [Reuters] Where did all the bulls go? Rallies stall as EU summit begins [CNBC] U.S. housing starts total 1.186 million in June, vs 1.169 million expected [...]

[Yahoo/Bloomberg] Stocks Retreat; Euro Steady After ECB: Markets Wrap [Yahoo/Bloomberg] Worst China Stocks Selloff Since February Caps Brutal Reversal [Reuters] Dollar climbs as traders focus on weak Chinese retail sales [Reuters] Global debt hits [...]

[Reuters] Stocks gain as vaccine hopes offset U.S.-China tensions [Reuters] Dollar hits one-month low; riskier currencies gain on vaccine hopes [CNBC] U.S. reports record 67,400 single-day spike of new coronavirus cases [Reuters] Coronavirus cost [...]

[Reuters] Lockdown in global tech hub hits stocks [CNBC] U.S. consumer price index rose 0.6% in June, vs 0.5% increase expected [Reuters] JPMorgan beats estimates on trading, but loan losses loom [CNBC] Coronavirus updates: Hong [...]

[Yahoo/Bloomberg] Stocks Rise on Policy Optimism; Dollar Declines: Markets Wrap [CNBC] Stock futures rise as investors shake off a continued spike in coronavirus cases [Reuters] Shares eye five-month peak as earnings season starts [Reuters] Dollar [...]

[CNN] US Covid-19 cases are climbing but some state and local leaders clash over moves to curb the spread [Yahoo/Bloomberg] Homegrown Buyers Pick Up Treasury’s Tab to Fund Record Deficits [Yahoo/Bloomberg] China Gives World First [...]

[Reuters] U.S. sets record for new COVID cases third day in a row at over 69,000 [The Hill] Dozens of Florida hospitals max out of ICU capacity amid surge in COVID-19 cases [Reuters] Chinese [...]

The Shanghai Composite surged 7.3% this week, increasing y-t-d gains to 10.9%. The CSI 300 rose 7.6%, with 2020 gains of 16.0%. China’s growth-oriented ChiNext Index’s 12.8% surge boosted year-to-date gains to 54.5%. Copper jumped [...]

Here’s the news of the week – and how we see it here at McAlvany Wealth Management: Gold: Seeing the Unseen The COVID-19 crisis continues to drag on. Cases make daily highs, and the [...]

[Reuters] Stocks jittery as record U.S. virus count curbs risk appetite [Yahoo/Bloomberg] U.S. Treasuries Lead Rally in Long-Dated Bonds on Haven Demand [CNBC] U.S. producer prices unexpectedly fall in June [Reuters] Fed balance sheet below [...]

[CNBC] Stocks higher as tech shares rise again, jobless claims better than expected [Reuters] China charges on, gold reaches nine-year high [Reuters] Gold holds above $1,800 as virus cases spike [Reuters] U.S. weekly jobless claims [...]

[Reuters] Global shares waver on coronavirus fears [Yahoo/Bloomberg] U.S. Stocks Drift, European Stocks Trim Decline: Markets Wrap [MarketWatch] Gold prices extend climb above 9-year high as traders see few limits to central-bank stimulus [Yahoo/Bloomberg] Trump [...]

[Reuters] Stocks ease after five-day run as virus worries weigh [AP] Global stocks slip as virus outbreaks dim hopes for rebound [Reuters] Pompeo says U.S. looking at banning Chinese social media apps, including TikTok: Fox [...]

[Reuters] Stocks rally to four-week highs as investors bet on China revival [CNBC] Dow futures jump more than 350 points as Wall Street tries to build on winning week [CNBC] Shanghai soars nearly 6%, leading [...]

[AP] US holiday fuels worries about skyrocketing virus cases [Reuters] WHO reports record daily increase in global coronavirus cases, up more than 212,000 [Reuters] ECB’s Villeroy Says Pandemic Is Forcing Permanent Policy Change [Bloomberg] Goldman [...]

[Reuters] Across Sun Belt, hopes for economy give way to renewed fears [Reuters] Russia says China would be needed in expanded G7 summit: TASS [Reuters] U.S. sends carriers to South China Sea during Chinese drills [...]

“U.S. Stocks Finish Best Quarter in More Than 20 Years” – yet another extraordinary period worthy of documenting in some detail. The S&P500 returned 20.5%, led by energy companies Halliburton (up 89.5%) and Marathon Oil [...]

[AP] World stocks mostly turn lower with US closed for holiday [Reuters] Global Markets: COVID recovery vs COVID reality [Reuters] Dollar rises as risk appetite tempered by rising COVID-19 cases in U.S. [Reuters] U.S. reports [...]

[Yahoo/Bloomberg] Stocks Rise After Jobs Report; Bonds Fall: Markets Wrap [CNBC] US jobs increase by 4.8 million in June, vs 2.9 million estimate; unemployment rate at 11.1% [CNBC] Weekly jobless claims rise more than expected [...]

[Yahoo/Bloomberg] U.S. Stocks Fluctuate as New Quarter Starts: Markets Wrap [Reuters] Global shares begin second half with a whimper despite positive data [Reuters] U.S. employers announced more job cuts in June: report [CNBC] Mortgage demand [...]

[Reuters] Virus fears lead stocks lower after strong quarterly rebound [Reuters] European shares pick up, dollar gains before quarter-end [Yahoo/Bloomberg] Gold Heads for Biggest Quarterly Gain Since 2016 on Virus Woes [Reuters] Wall Street faces [...]

[Yahoo/Bloomberg] U.S. Stocks Rise With Europe Stocks; Dollar Slips: Markets Wrap  [Reuters] Oil prices drop for second straight session as coronavirus spike cools demand hopes [CNBC] California orders bars to close in Los Angeles and [...]

[Reuters] Wall St Week Ahead-RPT-Investors eye economic data, stimulus measures as stocks rally stalls [Reuters] Global coronavirus cases exceed 10 million [Reuters] China's central bank says economy faces risks from global pandemic, efforts against domestic [...]

[Reuters] New pandemic clampdowns in Texas, Florida rattle business owners [AP] Bar owners worry as virus surges in their workplaces [Reuters] New U.S. coronavirus cases hit 45,242 for biggest one-day increase of pandemic [CNBC] Credit [...]

The much vaunted “V” recovery is improbable. To simplify, a somewhat “w”-looking scenario is a higher probability. After such an abrupt and extraordinary collapse in economic activity, a decent bounce was virtually assured. Millions would [...]

Here’s the news of the week – and how we see it here at McAlvany Wealth Management: Déjà vu or a Bump in the Road to Riches? This week, the reopening trade and the [...]

[Reuters] Wall Street lower as banks fall, virus cases surge [Reuters] Global stocks, oil and euro gain despite surging coronavirus cases [AP] US consumer spending up 8.2%, partly erasing record plunge [CNBC] Coronavirus mortgage bailouts [...]

[Reuters] Stocks fall on virus fears ahead of jobless claims [Reuters] Oil prices fall further on virus fears, U.S. crude stock build [CNBC] U.S. hits highest single day of new coronavirus cases with more than [...]

[Reuters] Wall Street lower as coronavirus cases flare up [Reuters] Gold shines as coronavirus surge unnerves investors [Reuters] Oil prices slides as U.S. crude stockpile growth heightens oversupply fears [Yahoo/Bloomberg] Gold Poised to Challenge $1,800 [...]

[Yahoo/Bloomberg] U.S. Equities Rise With Europe Stocks; Dollar Slips: Markets Wrap [Yahoo/Bloomberg] Oil Climbs to Three-Month High on Demand Strength, Trade Hopes [Reuters] White House adviser Navarro walks back on comments China trade deal 'over' [...]

[Yahoo/Bloomberg] U.S. Stocks Rise as Investors Assess Virus Count [Reuters] Global stocks shrug off fresh virus wave fears, dollar slips [Yahoo/Bloomberg] Gold Drives Toward Highest Since 2012 on Virus Resurgence Concern [CNBC] Coronavirus live updates: [...]

[CNBC] U.S. banks are ‘swimming in money’ as deposits increase by $2 trillion amid the coronavirus [Reuters] Inflation dog may finally bark, investors bet [Reuters] Brazil just shy of 50,000 coronavirus deaths, over 1 million [...]

Here’s the news of the week – and how we see it here at McAlvany Wealth Management: Market Is Climbing a Wall of Worry Over a Second Shutdown Animal Spirits continue to roll on [...]

[Reuters] Trump delights supporters, alarms health officials with Tulsa rally [Reuters] Wall Street Week Ahead: Healthcare to get growth bump in COVID-19 influenced Russell remake [Yahoo/Bloomberg] Oil Companies Shutting Off Drilling Rigs Across U.S. Shale [...]

Can we even attempt a reasonable discussion? Someone’s got this wrong. June 12 – Reuters (Judy Hua, Cate Cadell, Winni Zhou and Andrew Galbraith): “A Beijing district put itself on a ‘wartime’ footing and the [...]

[Reuters] Wall Street Rises on recovery optimism [Reuters] Running on 'hopium': Explaining the market rally in Wall Street's terms [Yahoo/Bloomberg] Quadruple Witching Set to Add Fuel to Month of Stock Turbulence [CNBC] Coronavirus live updates: [...]

[Yahoo/Bloomberg] U.S. Stocks Decline; Treasuries Rise: Markets Wrap [Reuters] World stocks drift lower as second wave virus fears mount [Reuters] Coronavirus second wave fears boost yen; Aussie dollar falls after data [Reuters] U.S. weekly jobless [...]

[Reuters] Stocks grind higher on recovery hopes [Reuters] Dollar regains ground as investors take refuge from murky outlook [CNBC] Homebuyer mortgage demand spikes to 11-year high, as rates hit another record low [MarketWatch] Housing starts [...]

[Reuters] Stocks jump on stimulus hopes ahead of retail sales report [Yahoo/Bloomberg] Global Stock Rally Returns on Fresh Stimulus Hopes: Markets Wrap [Reuters] Stimulus splurge restarts stocks rally [AP] US retail sales up a record [...]

[Yahoo/Bloomberg] U.S. Stocks Drop, Bonds Up on Second-Wave Worries: Markets Wrap [Reuters] Stocks, oil under pressure amid fears of second wave of pandemic [Reuters] Aussie, kiwi, and yuan fall on worries about second wave of [...]

[Yahoo/Bloomberg] Millions of Jobs Could Be Permanently Lost in Reallocation Shock [Yahoo/Bloomberg] Bond Traders Grasp Grim Reality of Economy’s Long Recovery Slog [Yahoo] Stocks of bankrupt companies going bananas despite companies being broke [Yahoo/Bloomberg] Kuwait [...]

[Reuters] U.S.'s Pompeo to meet China's top diplomat in Hawaii seeking to ease tensions: media [Yahoo/Bloomberg] Fed Warns of Significant Financial-Sector Vulnerabilities [Yahoo/Bloomberg] Robinhood Market Made Bursting Bubbles Wall Street’s Obsession [Yahoo/Bloomberg] Renaissance Technologies Posts [...]

Financial crisis erupted in March. The Fed slashed rates at a March 3rd emergency meeting – and then began aggressively expanding its holdings/balance sheet (creating market liquidity). Even from a “flow of funds” perspective, it [...]

Here’s the news of the week – and how we see it here at McAlvany Wealth Management: Plus Ça Change, Plus C'est La Même Chose We remember the late 1990s so well.  It was [...]

[Yahoo/Bloomberg] U.S. Stocks Bounce Back; Treasuries Decline: Markets Wrap [Reuters] World shares stem losses, oil gains as fresh lockdown fears fade [Yahoo/Bloomberg] Oil Set for First Weekly Drop Since April on Second-Wave Fears [Reuters] U.S. [...]

[CNBC] Stocks plunge at the open on virus second wave concern [Reuters] Stocks spooked, bonds rally on downbeat Fed [Reuters] Oil prices hit by record U.S. crude inventories, bearish Fed [AP] 1.5 million more [...]

[CNBC] Stocks rise ahead of Federal Reserve update, tech shares set for more gains [Reuters] Dollar hits three-month lows amid Fed easing speculation [Reuters] U.S. consumer prices fall for third straight month [CNBC] Mortgage demand [...]

[Reuters] Stocks fall as recovery rally pauses ahead of Fed meeting [Reuters] Europe turns red as bulls run out of charge [Yahoo/Bloomberg] Gold Advances Before Fed Meeting as Global Risk Rally Stalls [Reuters] Oil down [...]

[Reuters] Stocks rise on optimism over economic revival [Reuters] World shares advance on surprise U.S. job recovery, oil steadies [Yahoo/Bloomberg] Oil Erases Gains With Saudis Saying Extra Cuts for a Month Only [CNBC] Coronavirus live [...]

[Yahoo/Bloomberg] Powell Takes Center Stage at a Bleak Moment for the U.S.: Eco Week Ahead [Reuters] Black Lives Matter protests for U.S. racial justice reach new dimension [Reuters] China May exports slip back into contraction, [...]

[Reuters] OPEC, Russia to extend record oil cuts to end of July [The Hill] Huge protest expected in DC amid escalating scrutiny of police tactics [Reuters] Wall Street Week Ahead: Bond investors look for Fed [...]

For posterity, some numbers: Over the past three weeks (14 sessions), the S&P500 gained 11.5%. The KBW Bank Index surged 36.1%, with the NYSE Financials up 23.9%. The Dow Transports rose 27.2% in 14 sessions, [...]

Here’s the news of the week – and how we see it here at McAlvany Wealth Management: Finding Value in a World of False Signals The market continues its seemingly inexorable march higher. In [...]

[Reuters] Wall Street higher on surprise drop in unemployment rate [CNBC] 10-year Treasury yield surges above 0.9% after better-than-expected jobs report [Yahoo/Bloomberg] Oil Rallies With Strong Jobs Data Adding to OPEC+ Cut Optimism [CNBC] May [...]

[Reuters] S&P, Nasdaq lower after four-day rally [Reuters] Global Markets - ECB's super stimulus salvo sends stocks, euro higher [Reuters] U.S. new weekly jobless claims drop below 2 million [Yahoo/Bloomberg] ECB Unveils Bigger-Than-Expected Boost to [...]

[Yahoo/Bloomberg] Stocks Prolong Rally; Dollar Weakens to March Low: Markets Wrap [Reuters] Global shares hit three-month highs on economic recovery hopes [Reuters] Euro set for seventh day of gains, dollar loses to riskier assets [CNBC] [...]

[Reuters] Wall St. higher on prospects of economic recovery [Reuters] Global shares cruise to three-month highs, dollar shows the strain [Reuters] Oil prices rise ahead of OPEC+ meeting on output cuts [Reuters] Five police shot [...]

[CNBC] Stocks are slightly lower to begin June as Wall Street aims for third straight monthly advance [Reuters] Global stocks buoyant, dollar slips as economies start to unlock [Reuters] Trump, attorney general to meet as [...]

[AP] ‘We’re sick of it’: Anger over police killings shatters US [AP] Massive US protests raise fears of new virus outbreaks [CNN] Protesters break curfew on another night of fury and frustrations over George Floyd's [...]

[CNBC] Protests and rioting erupt in cities across the U.S. as anger boils after the killing of George Floyd [AP] Trump strikes China over virus, Hong Kong and student visas [Reuters] Trump administration to study [...]

A global pandemic and historic economic downturn. A rapidly escalating U.S./China cold war. Surging U.S. unemployment and economic depression. A deeply fragmented society with intensifying animosity and conflict. Heightened social instability, with mounting protests (and [...]

Here’s the news of the week – and how we see it here at McAlvany Wealth Management: Watching an Opportunity Form in Commodities The overall performance of commodities has been very interesting to watch [...]

[Reuters] Stocks slip as investors await Trump's Hong Kong response [AP] US consumer spending sinks by record 13.6% in face of virus [Reuters] U.S. consumer spending tumbles in April [CNBC] Trump’s China press conference could [...]

[MarketWatch] Stocks edge higher after Dow retakes 25,000 even as jobless toll tops 40 million [Reuters] Europe cheers super-sized stimulus plan, U.S.-China tensions simmer [Yahoo/Bloomberg] China Arrests Yuan Tumble With Stronger-Than-Expected Fixing [Reuters] Oil falls [...]

[Reuters] Wall Street higher on recovery optimism [Yahoo/Bloomberg] China’s Sliding Yuan Leaves Offshore Rate on Brink of Record Low [Reuters] Dollar gains and yuan hits nine-month low as U.S.-China tensions return [MarketWatch] Treasury yields rise [...]

[Reuters] S&P 500 surges on recovery, vaccine hopes [Reuters] Europe's travel sector soars, S&P 500 to break 3000 barrier [Reuters] Oil prices climb as faith in supply cuts grows [CNBC] Coronavirus live updates: Gottlieb sees [...]

[Yahoo/Bloomberg] Europe Stocks Climb With U.S. Futures; Dollar Flat: Markets Wrap [Reuters] Stocks gain as German survey fuels optimism; dollar firm [Reuters] China lowers yuan midpoint to weakest since 2008 global financial crisis [Reuters] Dollar [...]

[CNBC] Coronavirus live updates: Airlines, federal agencies add new procedures for summer air travel [Reuters] Hong Kong police fire tear gas as thousands protest security law [Reuters] China's new Hong Kong laws a 'flagrant breach' [...]

Here’s the news of the week – and how we see it here at McAlvany Wealth Management:Implications of the Shutdown for Real EstateA walk down Main Street in Anytown, USA paints a very tragic picture. [...]

[Reuters] Wall Street Week Ahead: Investors look beyond drug makers as hunt for COVID-19 treatment heats up [CNBC] Coronavirus live updates: Protests break out in Spain against lockdowns; US cases top 1.6 million [Reuters] Hertz [...]

For the Week: The S&P500 rallied 3.2% (down 8.5% y-t-d), and the Dow rose 3.3% (down 14.3%). The Utilities gained 2.8% (down 12.2%). The Banks jumped 5.9% (down 40%), and the Broker/Dealers rose 5.0% (down [...]

[Reuters] Hong Kong tensions unnerve world stocks, oil tumbles [CNBC] Hong Kong plunges more than 5% as Beijing plans to impose new security laws [Reuters] Oil drops 5% on China-U.S. tensions, demand doubts [Reuters] New [...]

[Reuters] Stocks retreat as trade tensions add to pandemic woes [Reuters] Shares lose footing, oil marches on [Reuters] Oil at highest since March on lower U.S. inventories, recovering demand [CNBC] Weekly jobless claims rose 2.438 [...]

[Reuters] Stocks jump as investors hold out for recovery [Reuters] Gold gains as bleak economic outlook stokes safe-haven demand [Reuters] Oil up on lower U.S. stocks, firmer demand [CNBC] Weekly mortgage applications point to a [...]

[Yahoo/Bloomberg] U.S. Stocks Fluctuate; Crude Oil Edges Higher: Markets Wrap [Reuters] Euro, Italian bonds cheer EU recovery fund plan [Reuters] Powell, Mnuchin to face Senate grilling on U.S. coronavirus response [CNBC[ U.S. housing starts drop [...]

[Reuters] Wall Street jumps on stimulus, vaccine hopes [Reuters] Oil and European shares rise as lockdowns ease; gold jumps [Yahoo/Bloomberg] Gold Climbs to 7-Year High After Fed’s Stocks, Growth Warnings [CNBC] Oil jumps 9% to [...]

[AP] China warns US of ‘all necessary measures’ over Huawei rules [Reuters] A month after negative oil prices, U.S. crude contract expiry looms [Reuters] China says opposed to latest U.S. rules against Huawei [CNBC] Coronavirus [...]

[Reuters] Wall Street Week Ahead: Investors prepare for more U.S. stock swings as states reopen [Reuters] China asks United States to stop 'unreasonable suppression' of Huawei [CNBC] Coronavirus live updates: Trump plans to restore a [...]

“Bubble” is commonly understood to describe a divergence between overvalued market prices and underlying asset values. And while price anomalies are a typical consequence, they are generally not among the critical aspects of Bubbles. I’ll [...]

Here’s the news of the week – and how we see it here at McAlvany Wealth Management: Just Because Culture Can’t Be Quantified Doesn’t Mean It Should Be Ignored One of the great tragedies [...]

[Yahoo/Bloomberg] U.S. Stocks Slide on Rising Trade Concern: Markets Wrap [Yahoo/Bloomberg] Investors Flee Risk on U.S.-China Row, Powell Warning [Reuters] Oil back at early April highs as demand shows signs of picking up [Reuters] Coronavirus [...]

[Reuters] Stocks drop for third day as recovery hopes falter [Reuters] Oil prices rise on dip in U.S. crude stockpiles, IEA data [CNBC] US weekly jobless claims rise 2.981 million, vs 2.7 million expected [AP] [...]

[Reuters] Stocks turn negative as Fed's Powell warns of prolonged recession [Yahoo/Bloomberg] Oil Near Five-Week High as Saudi, Russia See Demand Recovering [CNBC] Powell says more policy help may be needed to pull the US [...]

[Reuters] Stocks rally falters as virus and trade nerves linger [Reuters] Dollar clings on to gains on fears of new COVID-19 cases, U.S.-Sino tensions [Reuters] Oil prices climb as Saudi Arabia pledges further production cut [...]

[Reuters] Stocks lower on fears of another wave of virus infections [Yahoo/Bloomberg] European Stocks Erase Earlier Gains as Oil Sinks Energy Shares [CNBC] China under pressure to write off loans as countries struggle to repay [...]

[Reuters] Wall Street Week Ahead: U.S. data deluge to underscore divide between [CNBC] Coronavirus live updates: Trump administration set to have glut of ventilators in July [Reuters] China central bank to step up counter-cyclical [...]

[CNBC] Coronavirus live updates: New jobs emerge from the pandemic; Amazon and sellers struggle to adapt [Reuters] No 'V'-shape return from devastating U.S. job loss, Fed policymakers say [Reuters] Explainer: Fed funds futures market sees [...]

The work of the great economist Joseph Schumpeter (1883-1950) has always resonated. When I ponder analytical frameworks pertinent to these extraordinary times, none are more germane than Schumpeter’s Business Cycle Analysis. Best known for “creative [...]

Here’s the news of the week – and how we see it here at McAlvany Wealth Management:Liquidity-Driven Growth and the Prospects for GoldIt is difficult to reconcile what is happening in the capital markets with [...]

[Reuters] Stocks boosted to weekly highs as risk appetite improves [Reuters] Oil heads for another weekly gain on demand hopes and shut-ins [CNBC] A record 20.5 million jobs were lost in April as unemployment rate [...]

[Reuters] Wall Street jumps as China data fuels recovery hopes [Reuters] Stocks cheer China trade relief, bonds face debt deluge [Reuters] Oil jumps on China export bounce, longer term outlook weak [Reuters] Brazil's real hits [...]

[CNBC] Stocks rise as investors bet on the economy reopening [Reuters] Euro falls amid worries about ECB bond-buying  [CNBC] US private payrolls drop by 20.2 million in April, the worst job loss in the history [...]

[Reuters] Stocks climb on oil gains, easing of lockdowns [Reuters] Oil spurt lifts stocks out of three-day losing streak [Reuters] Euro drops after German court ruling fuels uncertainty [Reuters] Oil prices extend gains on demand [...]

[Reuters] Wall St returns to losses as Buffett dumps airlines, China tensions flare [Reuters] Global stocks fall as U.S.-China tensions threaten rebound [Reuters] Oil falls on renewed U.S.-China tensions, global glut [CNBC] Coronavirus live updates: [...]

[CNBC] Coronavirus live updates: Vietnam reports first case in nine days, Roche to double antibody test production [Yahoo/Bloomberg] Fears Mount About Inflation Returning With a Vengeance [AP] Many lockdowns ease but Russia, India, UK still [...]

[CNBC] Coronavirus live updates: Protesters demand states reopen businesses and ease restrictions as US cases top 1.1 million [Reuters] Wall Street Week Ahead: Stocks face test as reopenings could fuel demand - or more coronavirus [...]

In a CBB from a decade or so ago, I noted that at the commencement of WWII President Roosevelt marshaled an agreement from the major warring parties to avoid the bombing of civilian targets. It [...]

Here’s the news of the week – and how we see it here at McAlvany Wealth Management: Coronacosts or Just a Smokescreen? The best part of waking up is …EBITDAC in your cup?[1] We [...]

[Reuters] Stocks fall further after Trump's China tariff threat [Reuters] Chinese yuan falls on U.S. tariff threat, Australian dollar sinks [Reuters] Oil rises towards $27 as OPEC+ begins record cut [Reuters] Trump threatens new tariffs [...]

[Reuters] Wall Street slides after jobless claims data [Reuters] Oil prices rise on some signs of pick up in fuel demand [CNBC] US weekly jobless claims hit 3.84 million, topping 30 million over the last [...]

[Reuters] Shares up as economies look to reopen [Reuters] Oil prices rise after smaller than feared U.S. inventories build [CNBC] US GDP shrank 4.8% in the first quarter amid biggest contraction since the financial crisis [...]

[CNBC] Stocks add to Monday’s gains with Dow futures up more than 300 points [CNBC] Oil drops 12% on storage capacity fears and weak demand, futures were down as much as 20% [CNBC] Coronavirus live [...]