Banks are posting a strong quarter The inflation (money printing by the Fed) has brought reflation (economic benefits of said inflation) and none are more targeted for benefit than the…
A picture of various reflation-sensitive markets vs. SPY/SPX The picture says that equity-centric reflation markets are struggling to regain uptrends relative to the broad SPY/SPX, and indeed are maintaining the…
Let's get through CPI tomorrow to see if there are any surprises to the view on the effects of the Fed's printed inflation and the government's pushed inflation. I don't…
Today came the happy - and inevitable - news. Some day on the horizon this effing virus is going to stop hanging over our shoulders. Some sectors especially appreciated the…
A couple days ago we asked the question in light of rising long-term yields, a steepening yield curve and the ongoing reflation operations by policymakers. Today the Regional Banks appear…
Any discussion of the banks and greater Financials sector has to include a discussion about interest rates. I believe that long-term interest rates will eventually work higher and if that…
Would it not follow that companies who borrow short and lend long (i.e. as banks are usually thought to do) would benefit from the increasing spread between long and short-term…
Curiously, in a rising long-term interest rate environment... The Banks are still dropping. The Banks are still dropping harder than the S&P 500 (SPY). Despite the yield curve, which is…
Why, it's the Pigs. Despite all the interest rate hype the Banks, which should benefit from a breakout in long-term yields, are still bearish. In a now public update yesterday…
Okay, this has got my full attention now. While long-term interest rates do this... ...and this... The nominal Bank index is still doing this... While the S&P 500 and most…
As noted in this week's NFTRH US & Global Market Internals segment, an important leader is failing to lead. That is all the more notable because said important leader is…
We have been waiting to clear the Trade War noise and get to the meat of what will really drive the market view this summer; that is earnings season and…
When the Pigs fly tends to be when interest rate dynamics say they fly. Rising long-term interest rates, as long as they don't materially hurt the economy, are beneficial to…
Why has this market been so challenging for me? Well, for one thing a logical connection between the KBE/SPY ratio and yields broke recently as long-term yields rammed upward and…