Mar 25, 2022
This week’s Bespoke Report newsletter is now available for members.
Stocks have stopped paying attention to the interest rate markets, but that hasn’t stopped bonds from continuing to plunge. Surging interest rates and a Fed willing to crush the economy to tamp inflation are being ignored by the furious rally in a stock market that believes in the admittedly very strong US economic expansion. In addition, we dive into the investing returns of different generations, with a surprising winner when it comes to long-term investing results as well as key analysis on the driver of long-term investing returns. With the supply side of the economy struggling to keep up, we look at two industries and how supply constraints are benefiting one while holding another back. We also introduce a new basket of stocks designed to find big growth opportunities in EM, review the performance of stocks over the last two years and big winners since the COVID bottom, record low jobless claims, the distribution of assets and liquid savings across the income distribution, economic hits in Europe, and more in this week’s Bespoke Report.
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Mar 11, 2022
This week’s Bespoke Report newsletter is now available for members.
No way out is a phrase we’ve heard a lot lately. Whether it’s Putin’s war in Russia, the FOMC, or the market, it’s hard to picture a smooth way out for any of them in the middle of this morass. Concerns aside, life goes on and the markets will open on Monday – or at least most will. So, grab a coffee, or for this week, you may want something a little stronger, and read up on the latest trends impacting markets and the economy 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.
Mar 4, 2022
This week’s Bespoke Report newsletter is now available for members.
The invasion of Ukraine has sparked market volatility beyond equity markets, with historic moves in European fixed income this week alongside the biggest advance in wheat prices on record. We discuss the implications of the commodity price shock for equity markets and the Federal Reserve, which remains the elephant in the room when it comes to the outlook for stocks and the economy. We also review global economic data, the monthly jobs numbers released this morning, implications for the dollar’s rally in stocks, 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.
Feb 25, 2022
This week’s Bespoke Report newsletter is now available for members.
In this week’s Bespoke Report we cover the crazy action seen across financial markets this week along with a look at bearish sentiment, valuations, seasonality, and more. To read this week’s full Bespoke Report and access everything else Bespoke’s research platform has to offer, start a two-week trial to one of our three membership levels.
Feb 18, 2022
This week’s Bespoke Report newsletter is now available for members.
For anyone whose investing experience begins with the COVID lockdowns, nobody told them there’d be days like we’ve seen in 2022 where the market not only goes down some days but goes down more often than it goes up! As the next line of the Lennon song goes, “strange days indeed.” Yoko Ono once said in an interview that the impetus for John Lennon writing “Nobody Told Me” was that he thought the world had lost its course. These days, the world probably lost its way in the early days of COVID, but the market lost its course late last year. Besides Energy this year, nothing has worked for investors. A company can have all the growth in the world, but if the earnings aren’t there good luck. Bonds, which usually provide some level of support during a market sell-off, have done just as bad as equities.
Heading into this weekend, we have to say we’re feeling a little bit of déjà vu. In last Friday’s report, we wrote that “on Friday [2/11] geopolitical concerns crowded out the FOMC and inflation when reports surfaced that a Russian attack on Ukraine was imminent” with an attack likely coming on February 16th. February 16th came and went with no attack, but markets still remain on edge regarding Ukraine. Once again this Friday, the Wall Street Journal sparked an intraday sell-off with the headline “US Warns of Imminent Russian Invasion of Ukraine With Tanks, Jets, Cyberattacks”. At some point, these headlines may be correct, but maybe, just maybe, by the time the attack actually comes, we’ll be numb to the headlines.
In this week’s Bespoke Report we cover all the major events of the week and also provided an analysis of how the current period compares to historical market corrections and bear markets. To read this week’s full Bespoke Report and access everything else Bespoke’s research platform has to offer, start a two-week trial to one of our three membership levels.
