Finding Value in Each Other: Active Collaboration in Stock and Bond Analysis
Seth Meyer, Brent Olson, and Nick Schommer from Janus Henderson Investors, discuss the benefits of collaboration in their stock and bond analysis.
Reflation, Flation, What’s Your Nation?
In this blog piece, we want to take a deeper look into a theme—reflation.
The Resistance that Defines the Week
U.S. benchmarks rebounded from yesterday’s early bloodbath and the S&P finished positive. In fact, most sectors, led by Energy and Communication Services, gained ground.
Bitcoin: Digital Currency, Digital Gold, or Digital Tulip?
Bitcoin has gained credibility over the past three years, but I believe its use as a currency, a diversifier or an inflation hedge is a bit off the mark.
The Inflection Point has Arrived
Tech is getting slammed again. Yesterday, the NQ lost 2.5% and the added selling overnight is dragging the risk-environment lower. We have hammered home the rising rate narrative and how a high velocity move in the 10-year Treasury above 1.25% will tap a pain threshold at 1.50%.
Full-Filled
According to a report released over the weekend, Goldman Sachs thinks the oil price is going to get a substantial top-up sooner than it previously thought.
Market Outlook: Feb. 23, 2021
SPY -2.5% correction off the top, NQ -6.8% from peak to trough this morning, and the Russell 2000 -4% off the top. Here’s some perspective, The SPY is +82%, NQ +109%, RTY +144% on a y/y basis. So today is not the day to hem and haw over a correction.
February 23, 2021
Technical Analysis Heading into Tuesday’s Open: February 23, 2021
Economic Update: Feb. 22, 2021
Retail sales had their biggest increase in seven months, rising 5.3% m/m, boosted by fiscal stimulus checks to households. Industrial production climbed 0.9% m/m in January, driven by an increase in oil and gas exploration.
Rising Rates Drawing Some Nervous Attention
There is a slate of M&A activity; there are reports that the House is expected to pass the $1.9 trillion stimulus proposal by the end of the week; Dr. Fauci said he thinks the U.S. will see a significant degree of normality by the end of 2021; the press is highlighting the growing potential for a really strong economic recovery this year; and Deutsche Bank has upgraded the airlines.
Lines Are Drawn, Fundamentally & Technically
U.S. benchmarks are set to open higher after staving off waves of selling early last night. Still, U.S. Dollar denominated assets initially plunged early last night.
Down to The Wire
It will come down to the wire today to determine if the S&P 500 has a winning week or a losing week. Over the last three trading sessions, the S&P 500 has declined 0.5%. Currently, the S&P 500 futures are up 19 points and are trading 0.5% above fair value.
USDA Outlook Forum
The USDA outlook forum is officially underway and will garner more attention than usual. The USDA expects 92 million acres of corn to be planted this year.