The S&P 500 hit another record high, but stock investors reacted poorly to a weaker-than-expected jobs report for August. Bonds rallied, as a slowing US economy portends a weaker labor market and potentially slack demand, setting aside concerns about long-term inflation, at least for the time being. Gold continued on its tear.

Let’s face it – nothing can slow the “risk on” sentiment currently charactering equity markets.  SPACs were the first to reappear a few...

US economic data is suggesting a slowing US economy, with the question about tariff-inflation unresolved. Unlike the Fed, the ECB continues to ease, lowering its policy rates 25bps on Thursday (for the 8th time). Risk markets remain relatively resilient, and bond yields improved, too. The Trump-Musk feud has grabbed headlines this week.

Tariffs followed by partial capitulation, a strategic crypto reserve, and further erosion in markets summed up another tumultuous week.

The week started and ended poorly for US stocks, delivering losses for the week. European stocks have been the best performers YtD.

Bond yields ticked up after an in-line Nov CPI report, reminding investors the inflation battle is not over. Stocks were weaker.,

This week we have monetary policy decisions from the Fed, the Bank of England and the ECB, the last of the year. This provides context.

FOREX is in the news, especially as many think the USD has reached its peak and is at an inflection point. What drives FOREX? Read on.

It is fashionable to espouse the end of the US dollar as the leading global reserve currency, but this will not occur anytime soon.