Important News A former client of mine, Stanley Druckenmiller, has been described by many financial editors as one of the greatest macro investors of all time. His credentials are difficult to dismiss. Over a career…

The case for reducing equity exposure is becoming increasingly compelling. The S&P 500 has advanced approximately 16% in just two months. Outside of recession recoveries, such rapid gains are extraordinarily rare. The last comparable episode…

Wall Street continues pushing toward record highs, but the bond market is sending a very different message. Peter Schiff, CEO and Chief Global Strategist of Euro Pacific Asset Management, recently discussed what he sees as…

New Fed Chair Kevin Warsh has been a vocal critic of the Fed’s post-2008 QE policies and massive balance sheet, arguing that years of excess liquidity distorted asset prices, encouraged speculation, and weakened market discipline….

The most important warning signal in the U.S. economy today is not the stock market or even the consumer. It is the bond market. Under normal economic conditions, weakening growth and rising financial stress would…

The Federal Reserve is now facing rapidly rising inflation that is forcing markets to aggressively reprice the entire interest-rate outlook. Inflation has reaccelerated toward 3.8%, while both CPI and PPI data continue surprising to the…

Despite all Market warnings, the Equity Market remains aggressively bullish despite an extremely narrow market leadership structure dominated by the highly volatile Semis and AI trade. We believe this Bull Market enthusiasm is dangerously misplaced…

America’s debt crisis is no longer tomorrow’s problem. Our Bond Market is now warning that decades of reckless spending, endless deficits, and political cowardice are colliding with higher interest rates and slowing growth. Both branches…

We believe the Federal Reserve may soon be forced to raise interest rates far higher than most experts presently expect. But first, let us give a big round of applause to former Fed Chairpersons Ben…

U.S. 30-year Treasury yields briefly surged above 5.18%, their highest level since 2007, back when the global financial system was sitting on the edge of the Financial Crisis. The warning this time is not coming…