Bank earnings continue to beat expectations in the current quarter with managements overwhelmingly maintaining very defensive forward postures. The US Treasury curve flattened substantially through a bear steepening path with
Weekly Review & Outlook: October 16, 2023
In an eventful week, the early reporting banks uniformly beat EPS consensus estimates for 3Q23. Inflation readings for September reinforced a higher for longer monetary policy path. Geopolitical risks rose
Weekly Review & Outlook: October 9, 2023
Economic data from last week generally conformed to the slowing but still growing U.S. economy reference frame. Stocks were left roughly flat over the full week while the longer maturity
Weekly Review & Outlook: October 2, 2023
The 3rd quarter closed right on schedule despite the seeming surprise of its arrival among some newsmakers. Important updates in the week included the latest Personal Consumption Expenditures (PCE) data.
Weekly Review & Outlook: September 11, 2023
Equity and bond markets both slumped last week as macro data on a whole was slightly better than expected. The “bad news is good news†script from the prior week
Weekly Review & Outlook: September 4, 2023
Macroeconomic data in the week continues to show a slowing economy and in-line inflation data. A “bad news is good news†market response took shape with equities and Treasuries both