About 40% of the Consumer Price Index (CPI) is comprised of shelter costs. Shelter comes in various forms but apartment supply/demand drivers are a big underlying factor in the direction... read more →
All-important CPI inflation data out this morning, and while the market’s reaction has been favorable since 8:30am EST there’s lots to evaluate here. Has the headline CPI inflation number fallen... read more →
With the market now having cleared the all-important 4200 on SP500, the question now becomes “what’s next?”. The answer is “breadth”. As we have noted prior, almost all of the... read more →
The CPI Index captures trends in consumer prices, the stuff that you and I all consume each day in various ways. The CPI Index is roughly comprised of 40% housing... read more →
As expected, our beloved elected officials waited until the very last moment and then cut a deal that does little for the budget but does avert a financial calamity. I... read more →
The Conference Board’s Survey of Consumer Confidence showed that consumers have grown even more pessimistic towards the stock market as the percentage expecting higher stock prices declined to 28.6% while... read more →
At two meetings I was in yesterday the topic of the current “narrow rally” was brought up. “Narrow rally” means just a few mega cap stocks going up a lot... read more →
“Inflation is always and everywhere a monetary phenomenon”– Nobel Laureate Milton Friedman in speech given in India in 1963 We have discussed before many times that money supply growth drives... read more →
There are three consensus views I see right now in the market: US recession sometime 2H23 US office real estate is a mess and will experience permanent loss/impairment The 4200... read more →
Everything is politics, including politics itself, investing, and the role of the Fed and its chair. Not really a surprise that after getting way behind inflation in late 2021/most of... read more →
