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.

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.

It was a slow drift lower in US stocks and bonds this past week, although Friday's PCE (inflation, August) and other economic data was sufficiently balanced to create a slight bounce. Global stocks were mixed, with U.K. and Japanese stocks generating the best returns WoW.

Stock and bond markets felt fragile all week. The US Dec jobs report caused investments to gap down in price to end a difficult 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.

Stocks and bonds were better on the week in spite of a strong May jobs report released Friday morning. Gold and oil weaker, USD stronger.

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!