Joseph Calhoun

Gold and commodities both rose while small and mid-cap stocks also had solid quarters. About the only losers were bonds and REITs both down in a rising rate environment. Click to read.

The first quarter of 2024 is in the books and the US economy and markets continue to defy expectations, which coming into this year were that growth and inflation would both moderate and the Fed would

The real story of the last three years is that commodities and large cap stocks are the only major asset classes providing returns for a diversified investor.

Markets year to date have been a lot more interesting in the details than the headlines you get in the financial media. The narrative has focused almost exclusively on Artificial Intelligence and the

Carl M. Cannon's Morning Note headlines against the historic events

Interest rates surged last week on the back of a hotter-than-expected inflation report that wasn't actually that bad (see below). Not that my - or your - opinion about these things matters all that much to the market. In the short run, all that matters is what the majority believes is the truth.

Is this normal? I haven't made any money in like two years. - Question from a recent acquaintance upon hearing what I do for a living Let's get this out of the way quickly. The answer to his question is yes, this is painfully normal. When you have a bear Read Full Article »

Be careful what you wish for lest it come true! - Various of Aesop's Fables Shinzo Abe was elected to a second term as Japanese Prime Minister in 2012 and launched his three arrows plan to revive the Japanese economy. The three arrows were: Ultra loose monetary policy, Read Full Article »

Interest rates are unchanged over the last six months. The recent rise in rates that has had markets in an uproar the last few weeks appears to have run its course. Click to read.

Coming into last week's FOMC meeting, Jerome Powell was expected to be hawkish. I know that because numerous articles in the financial press told me so which makes me wonder if the articles themselves affected those expectations. Maybe. Bloomberg is now producing a Fed Sentiment index that is powered by a natural