I started drafting this update Friday morning in London, with U.S. futures massively down.  And then – like magic – the U.S. stock market opened slightly better, bounced around all morning, and then headed higher during the afternoon.  These are crazy times!  Above are some of the headlines that have appeared the last two days in # Bloomberg and the # FT .  Over-valued equities and concerns about A.I. have been present for some time, but the last two headlines regarding cred

Concerns regarding tariffs and trade rhetoric faded a bit in the second half of the week in the U.S., which gave way to decent economic data and a strong start to the earnings season. The S&P 500 and NASDAQ hit record highs (again). Yields were under modest pressure at the long end of the curve.

This article summarises two articles and one podcast that are topical,: US/EU automotive tariffs, social security "fraud", and steel tariffs

Stocks and bonds declined last week, although stocks ended the week on a positive note after a strong US jobs report. Gold and oil higher.

It was a scorching end to a fantastic first half of 2023, if you are long equities. Less so perhaps if you are long bonds. And Apple!!

[GO STRAIGHT TO THE TABLES] MARKETS SUMMARY Stocks didn’t do much week-over-week although the general trend was down. Japanese equities...

The consensus view is that stocks will rise modestly in 2023. History has proven one thing – analysts will be wrong!

The Truss government takes a U-Turn and throws Kwarteng under the bus, and US equities experience unusual volatility following hot CPI.

Update for this past week in equities, credit, and other assets. IMF projects growth, SPACs under pressure, bank earnings coming, etc.