A.I. featured large again last week, mainly because it was the key talking point as five of the Mag 7 companies released earnings with mixed results. The FOMC decision also went as expected, although Mr Powell threw some caution into the wind. Global stock markets took it in stride, but the US Treasury market was less happy as yields rose across the curve. Gold was weaker again, and the US Dollar strengthened.

US CPI surprised on the downside (lower than expected) this week, setting a constructive tone. The FOMC says one rate cut, Europe wobbles.

More of the same, as risk-on sentiment pushes US equity markets to record highs. Bitcoin is soaring, too. Economic data remains supportive

US inflation for January was hot, pushing equities bond bonds lower. International equities performed better. UK and Japan in recession.

Last week was about US inflation data and the approval of Bitcoin ETFs. CPI was slightly hot, and PPI was weak, sending yields lower.

Stocks and bonds were on fire this week, a rare occurrence recently. "Bad news is good news" resonated as data showed a slowing US economy

Dullsville although markets did gyrate a bit, with equities and bonds lower, the USD, credit and oil better. US inflation bang on.

[GO STRAIGHT TO THE TABLES] We’re now into August, a normally lower-volume month, and often not the best month for equities. The table...

Seven months into the year, many of my Y/E forecasts for indices and other assets look like they will be wrong. I am in good company!