Author Archive
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Jan 28, 202610 conclusions from a review of the Treasury market. -
Jan 21, 2026Stock prices of companies with negative earnings continue to outperform stock prices of companies with positive earnings. -
Jan 20, 2026US oil production has increased dramatically over the past 15 years (see the first chart), and most of the rise has been exported. -
Jan 16, 2026Durable goods data shows that there is a capex boom underway in the US economy. -
Jan 15, 2026In 2025, we worried that the trade war and immigration restrictions would lead to stagflation. -
Jan 8, 2026The IMF estimates that fiscal policy will boost growth by 1% in Germany and 0.5% in Japan in 2026. -
Jan 7, 2026Data for bank lending points to a gradual recovery in the US and Europe.
