There is no shortage of villains to blame for the sell-off in government bonds. The midweek catalyst that sent US Treasuries into a tailspin was the release of September flash PMI data for the US manufacturing and services sectors........

U.S. stocks and bonds lost ground last week, with global stock markets all gaining ground. GOOG disappointed, which is hard to digest given their performance and outlook. Investors remained very concerned about A.I. investment needs, especially amongst the hyper-scalers. There are important central bank meetings and earnings this coming week.

US stocks were mixed but tech continued to be the driver. US bonds did less well, as yields moved higher across the curve. Global stocks were generally weaker, as oil inched higher due to ongoing uncertainty in the Middle East with the Strait of Hormuz again the focal point.

Tech shares came under pressure this week, with the sell-off gaining steam on Friday following a much stronger-than-expected US payrolls report. Yields moved higher across the curve, oil was higher, and Bitcoin faltered. Much of this was driven by higher inflation expectations and a lower likelihood that the Fed will cut rates in the foreseeable future.

Stocks added to monthly gains, except in Europe where stocks lost ground. US Treasury yields were higher, as bonds lost ground. Oil prices increased double digits again, as the US-Iran conflict seems no closer to resolution.

War breaks out with rather significant effects on the global economy, including sharply higher oil prices and increasing inflation expectations. This filtered through to stocks and bonds, both of which took a beating this week.

I "guessed" at how markets would perform in 2024 last year at this time. Some I got right, some I got wrong, not different from the pros.

Some stocks that clearly "track" President-elect Trump's varied campaign promises have rallied hard, including TSLA, BTC, COIN and KRE.

The debt ceiling is front & centre as the date the US Treasury runs out of cash is drawing dangerously near. Here's my two cents, enjoy!