Blog

  This past week was perhaps one of the most consequential weeks the world and especially the US has seen in quite some time. Between the Supreme Court rulings and the Senate’s passage of the fast-track legislation, which may lead to the passage of the 12-nation… More >>

  The US Consumer balance sheet is as strong as it has ever looked. With 97 trillion in assets and 14 trillion in liabilities, consumers have a very strong net worth. In fact, when you look at American’s debt service levels they are at the lowest point since the… More >>

  Finally, there’s some good news from the consumer. Retail sales were up 1.2% from last month with gains in almost all sectors.[i] On a year over year basis retail sales are up 2.7% and if you exclude auto and gasoline they are up 4.3%. Perhaps we are finally seeing the… More >>

  Waiting to Exhale – Quickly Last Friday's employment report provided a brief moment to exhale as it suggests the US economy may not slip into a recession during the second quarter. US companies added 280,000 jobs during the month of May, much stronger than the… More >>

  It seems to me that everyone is talking about the excessive valuations the US equity markets are trading at today. Indeed it is elevated, and certainly much of the concern is warranted based upon dismal Q1 earnings.[i] The diatribe has almost reached a crescendo when I… More >>