Last week, the market had no shortage of headlines, and volatility accompanied stocks all week. We started with the news of a possible default of Evergrand, the second-largest developer in China, on its $300 billion debt. How much? According to Bloomberg data, the amount is equivalent to about 2% of China's GDP plus $100 billion …
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Last week, all the prices from consumer goods to commodities to houses rose, except for the stock market, which finally paused and came down to make a reality check. We like to begin our commentary by referring to the famous 2001 song “Come on Down” by Crystal Waters....
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Last week, finally, the S&P 500 that benefited from an outperformance of the mega cap tech name logged its first five day losing streak since mid February. Another month, another above estimation inflation reading of the U S producer price index, PPI, hit a 40 year high Even the older style finishing goods PPI metrics, …
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Wow, shocker! Jobs data on Friday got literally "everyone" by surprise, i.e., Payrolls increased only 235 k versus the 732.5 k median estimate. Gold was up, dollar down on that huge miss stocks were struggling to find a direction out of the data. It came to our mind, perhaps now the bad news is really …
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