As the third quarter slowly winds down, economic data announcements remain front page stories as the economy recalibrates amid the Delta variant. Even though labor markets and supply chains remain challenged with a less linear recovery and supply bottlenecks, the consumer price index (CPI), an inflation gauge, slowed its’ growth with the smallest gain in seven months as consumer prices increased only 0.3% (0.1% less than consensus).
Gold. What’s wrong with it? From spiking inflation, falling real interest rates, and massive money printing, it seems logical that gold, a touted inflation hedge, should be rising. Yet, so far this year, gold has done little.
I talk to Advisors and consumers every week. What do I hear a lot these days? “The market has to go down, it can’t keep going up like this forever…I’m raising some cash to take advantage of the pullback when it comes…”. All of these comments are thoughtful and prudent and a correction can come at any time.
The question of Japanization in the U.S. continues as the S&P 500 tracks the Nikkei of 1980. An email question I received recently is worth discussing in more detail.
The question of Japanization in the U.S. continues as the S&P 500 tracks the Nikkei of 1980. An email question I received recently is worth discussing in more detail.
Although no economy is the same and there are relevant differences between the Japanese and the US or European macro setup, we can learn quite a few things by studying what happened in a jurisdiction that experimented with QE and ‘‘QE + fiscal’’ already 20-30 years ago.
For months, investors have been scaling what feels like an endless wall of worry. Each concern that gets resolved seems to spawn new uncertainties, yet the market has continued its relentless climb higher.
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