Mar 24, 2026
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- Throughout the S&P 500’s history, a hypothetical strategy that goes to cash when the index falls below its 200-DMA has outperformed.
- Today’s 2-year note auction saw terrible demand; similar to other coupon sales so far in March.
- Regional Fed surveys showed that there may have been supply chain stress even before the war with Iran began.
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Mar 23, 2026
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- While the VIX continues to trend higher, there are some other signs indicating that volatility may have peaked.
- Gold has seen a large rise in leverage over the last four weeks whereas the drop in corporate bonds leverage has been 3 standard deviation move.
- Data center spending climbed to 6.4% of private nonresidential construction spending in January.
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Mar 19, 2026
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- The Energy sector has now traded in overbought territory for 49 consecutive trading days; the second longest streak of overbought readings on record.
- Intraday, crude oil futures continue to be driven by extreme lurches in positioning and weak liquidity.
- Data from the Federal Reserve’s Flow of Funds report showed that the corporate financing gap remains negative despite the boom in AI investment.
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Mar 18, 2026
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- Today’s Federal Reserve policy statement contained no material surprises and Fed Chair Powell’s presser was also mostly unremarkable.
- DRAM/NAND memory producer Micron (MU) blew the doors off earnings with revenues 21% above estimates and triple what they were a year ago.
- The latest PPI release showed that costs were broadly accelerating even before the recent leap in gasoline and diesel prices.
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Mar 17, 2026
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- Since the last FOMC meeting on January 28th, the Fed Funds future curve has shifted justifiably and dramatically.
- Stocks with the highest international revenue exposure have seen large moves since the start of the war in Iran.
- February saw a steep decline in the number of consumers receiving rejections after applying for credit.
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Mar 16, 2026
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- Despite the dip today, front month WTI is rising at a $2/day pace.
- Positioning data is beginning to reflect adjustments in energy and agriculture commodity futures as a result of the closure of the Strait Hormuz.
- Consumer lending, private equity, and private credit stocks are down as IG credit spreads have soared.
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