A big gap down during pre-market trading on Wednesday morning sealed a down week for the S&P 500. Defensive sectors (staples, healthcare) rallied sharply alongside energy which benefited from a massive move higher in crude oil prices [...]

Another volatile week netted a substantial recovery rally from last week’s CoVid beat down. Global equity markets posted double digit gains on the back of a record $2t stimulus bill passed by the U.S. Congress and signed into law on Frida [...]

Investors pressed the fear and panic button in an unprecedented fashion this week with equity markets posting red numbers not seen since October 2008.  Markets from treasuries to oil to stocks to bonds seized up as panic ensued over coron [...]

DJIA daily moves of -2,013, +1,167, -1,464, -2,352, and +1,985 added up to the end of a historic 11-year bull market and show as well as anything that the market is struggling to quantify where to go from here. Markets priced in global re [...]

If you would have told us three weeks ago today, we would be writing a fourth memo on COVID-19, I’m not sure we can honestly say we would have believed you. At that time, while the virus was a serious issue, the bigger issue of the day wa [...]