August 30, 2023
Is the US Housing Market Facing a Serious Problem N-Term (When Looking at the Host of Recently Available Data)? The SPDR S&P Homebuilder Index (XHB; NC) is up +36.1% YTD, significantly outperforming even the S&P…
August 11, 2023
Our Take on the July CPI Report. In this note, we provide our take on the July CPI report. That is, with Consensus now pricing in the first rate hike as soon as the 3/20/24…
August 2, 2023
In this Note, We Discuss What Could Prove to be a Mar. 2020-Like Black Swan in 3Q23/4Q23. Is there a black swan coming this year that’s currently flying under the radar? In this note, we…
July 26, 2023
So, How’s the Housing Market Shaping Up? In this note, we look at: (a) the recent Case-Shiller National Home Price Index data reported yesterday, as well as (b) US homebuyer debt-to-income ratios (“DTIs”) and downpayment…
July 7, 2023
Update on Global Liquidity from the Ten Central Banks we Track as well as a Steel Industry “Check-Up”. In this note, we look at the current liquidity situation at the world’s largest ten Central Banks…
June 12, 2023
So How are Things Trending when Looking at Liquidity, Rent Inflation, and Steel Market Data? In this note, we provide a check-in on: (a) the state of U.S. liquidity when looking at a combination of…
May 25, 2023
Is There a Pending Disaster Brewing on the Fed’s Inflation Fight Front, which is Flying Completely Under the Radar? In recent communications with the market, the Fed has expressed its view that core inflation (i.e.,…
May 22, 2023
The Invesco QQQ Index and the Treasury General Account (“TGA”) Balance Have Tracked Each Other Quite Closely Since 11/1/22. As detailed in Ex. 1 below, Treasury Secretary Janet Yellen’s TGA account balance (i.e., the “piggy…
May 18, 2023
The Invesco QQQ Index and the Treasury General Account (“TGA”) Balance Have Tracked Each Other Quite Closely Since 11/1/22. As detailed in Ex. 1 below, Treasury Secretary Janet Yellen’s TGA account balance (i.e., the “piggy…