Reports

Yesterday the S&P crested 3,000 for the first instance since March 5. The same S&P outdistanced its 200-day moving average — a “bullish” portent. Yet its reach exceeded its grasp… The bears, rousted and alarmed, launched an afternoon counterraid. They threw the overextended and outweaponed index back beneath 3,000… which ...

This post Get Ready: More “Stimulus” Coming appeared first on Daily Reckoning. Another 2.12 million Americans filed onto unemployment lines last week. This we learn by way of the United States Labor Department this morning. A Dow Jones survey of economists had soothsaid 2.05 million — a slight “miss” in ...

Not far from our house lies Pimlico race course, site of the Preakness, the middle leg of the Triple Crown each year. Horse racing is big, or at least pretends to be, in Maryland. Pimlico during Preakness is bedlam. Our neighbors rent out their lawns for parking… then spend all ...

The novel coronavirus has dominated the headlines for the past two months, as it should. There’s no bigger story in the world. And besides its human toll, I believe we’ll be dealing with its economic fallout for years. But let’s not forget, this is an election year. Today I want ...

The political climate is fragile and feverish, with the nation amid a crisis that is both fast-changing and unparalleled in living memory. The biggest change in my election forecast is that Trump’s chances of reelection in November have plunged from 74% (the pre-COVID forecast) to 50% as of today. This ...

There is absolutely nothing wrong with this economy that a miracle cannot fix… to fine-tune a phrase of Alexander Woollcott. We believe the economy was going at partial throttle even before the pestilence ran it down. It gave the appearance of an exotic racing auto — sleek, finely lined, waxed ...

Remember the pro-democracy protests in Hong Kong against Chinese authoritarianism? Well, guess what? They’re about to start again. And U.S.-Chinese relations could get even worse than they are right now. Are you prepared for a bumpy ride? Let’s unpack this… Last year’s protests came in response to a proposed law ...

I’ve been visiting Hong Kong for over 35 years. My first visit was in 1982 and my most recent was in May 2018. All large cities change over time. New districts are developed. New buildings are erected and some old ones torn down. Cities on the water, like Hong Kong, ...

It is Memorial Day… when we pause to honor the nation’s war dead. Most Americans will not, of course. It merely represents a chance to lie flat on a beach… to munch frankfurters… to dream the tall dreams of approaching summer. We will be joining them of course. We will ...

No negative interest rates — “for now.” This we have on authority of the Federal Reserve chairman himself. For Mr. Powell announced yesterday that: I know there are fans of the policy, but for now it’s not something that we’re considering. We think we have a good tool kit, and ...