Global hedge funds suffered their worst monthly decline since 2022 in March, with Goldman Sachs estimating fundamental funds fell 5.4%, pushing year-to-date returns to -1.4%. Despite the sharp selloff, Goldman Sachs and Morgan Stanley say…

Our Domestic Stock Market combines two (2) conditions that have rarely coincided at such extremes: record market concentration and record investor leverage. BTIG reports that the divergence between rising index prices and weakening market breadth…

Bank of America’s Michael Hartnett believes investor optimism has reached an extreme, with the firm’s Bull & Bear Indicator climbing to a record 9.6, a level that has historically signaled it is time to reduce…

Well, the semiconductors did not get the memo that they were supposed to hold up. We sent our July 13th Morning Alert warning that SOXX had entered a technical correction, that the AI rally was…

The AI investment boom continues to fuel powerful upside momentum in equities, particularly among semiconductor and hyperscale infrastructure companies. Investors remain willing to pay ever-higher valuations based on the belief that today’s massive capital spending…

With stagflation increasingly looking like the main course later this year, Wall Street largely shrugged off June’s softer CPI report. Markets currently assign a 66% probability of the Federal Reserve’s first rate hike in September…

The Federal Reserve appears to have painted itself into a policy corner. After maintaining restrictive monetary policy for more than three years in an effort to contain inflation, it now faces the difficult challenge of…

The dominant market story this morning is the renewed U.S.-Iran escalation over the Strait of Hormuz, with Brent crude jumping more than 4% after U.S. Central Command carried out fresh strikes overnight. Tanker crossings have…

Our view has the U.S. economy entering the late-stage credit cycle, with labor market deterioration becoming one of the key warning signs. The U.S. appears to be on the brink of another financial crisis as…

One of our greatest concerns continues to gain credibility: the U.S. equity market has become increasingly dependent upon the success of the Artificial Intelligence revolution. Since the current bull market began in late 2022, AI-related…