Jul 15, 2022
This week’s Bespoke Report newsletter is now available for members.
Earnings started this week, offering updates from corporate America as economic data and macroeconomic policy points towards a looming recession. Commodity prices have continued on their recent declines, while interest rates have been torn between growth concerns and a Fed that feels pressed to do more amidst high inflation. While consumer and producer prices this week we higher than expected, inflation expectations fell and presented a challenge to how the FOMC will communicate its plans for July rates policy amidst broadening core inflation, falling gasoline prices, volatile expectations numbers from consumer surveys, and big declines for market-based measures. We also discuss growth in China, retail sales data, Canada’s own 100 bps tightening this week, Italian political drama, and more in this week’s Bespoke Report.
To read this week’s full Bespoke Report newsletter and access everything else Bespoke’s research platform has to offer, start a two-week trial to one of our three membership levels.
Jul 8, 2022
This week’s Bespoke Report newsletter is now available for members.
In this week’s Bespoke Report, we’ve recapped today’s nonfarm payrolls report, provided an update on inflation trends, taken a look at sector breadth and internals, previewed the upcoming earnings season, and highlighted the recent price action in mega-caps and uber-growth stocks. To read this week’s full Bespoke Report newsletter and access everything else Bespoke’s research platform offers, start a two-week trial to one of our three membership levels.
Jul 1, 2022
This week’s Bespoke Report newsletter is now available for members.
“Been dazed and confused for so long, it’s not true…Lotsa people talkin’, few of them know…Don’t know where you’re going, only know just where you’ve been…” – Dazed and Confused, Led Zeppelin
We can’t think of many songs that better encapsulate 2022, but if you can, let us know. Confusing has been an understatement as investors are faced with a barrage of back-and-forth moves and policy decisions that would make most fair-minded people scratch their heads. Despite the cross-currents, we hear a lot of confidence from both sides about what will go down in the second half, but even in normal times, let alone one of the trickiest economic backdrops any of us have ever experienced, few of them know.
There’s a lot to cover in this week’s Bespoke Report, including the horrible first half and what it might mean for the second half, the state of the economy and inflation, a preview of earnings season and the midterm elections, a look at consumer sentiment, and much more. To read this week’s full Bespoke Report newsletter and access everything else Bespoke’s research platform offers, start a two-week trial to one of our three membership levels.
Jun 24, 2022
This week’s Bespoke Report newsletter is now available for members.
Equity markets turned in a more positive week as interest rates traders mulled the possibility of lower commodity prices bailing out a Fed that looks intent on committing a policy error. We discuss the Fed’s missteps, the widespread declines in a number of major commodity markets, the relationship between recessions and bear markets, the messages being sent by interest rates, why oil supply problems aren’t fixed even if prices have dropped, the implications of large declines like the last few weeks for forward returns, global equity market performance and trends, bad overseas economic data this week, slowing manufacturing surveys in the US and around the world, housing affordability, interest rate sensitive sectors of the stock market, and more in this week’s Bespoke Report.
To read this week’s full Bespoke Report newsletter and access everything else Bespoke’s research platform has to offer, start a two-week trial to one of our three membership levels.
Jun 17, 2022
This content is for members only
Jun 10, 2022
This week’s Bespoke Report newsletter is now available for members.
Every week, we show numerous charts to illustrate key trends in the market and economy in order to try and make sense of whatever is going on in the market. These days, though, only one chart matters—prices at the pump. Heading into this weekend, the national average price of a gallon of gas approached $5, a level it will almost certainly breach over the weekend. Not only are prices at a record high, but the pace of increase has been unprecedented. Since the COVID lows, the national average price has nearly tripled. Since the start of 2021, prices are up 122%, and this year prices are up 52% in less than six months. For just about every issue facing the market these days, gas prices are in some way related to it.
We jus published this week’s report which covers the meteoric rise in gas prices, inflation, and all the other issues weighing on markets.
To read this week’s full Bespoke Report newsletter and access everything else Bespoke’s research platform has to offer, start a two-week trial to one of our three membership levels.
