Michael discusses how short covering, rather than real money, has driven the fastest recovery on record following a bear market, and looks ahead at slowing earnings growth.
Mounting losses may result in this being one of the worst Decembers on record, and one of the worst years for equity performance in a decade.
A brief note on the latest price action in equity markets, how business cycles end, and how markets are being left to fend for themselves without central bank intervention for the first time in 20 years.
Where can investors find sustainable sources of return?
Market excitement about a resolution to the long-running U.S.-China trade dispute built ahead of (what were rumored to be) the final round of negotiations this week. However, comments from President Trump May 5 helped to dash that optimism.
One of the most perplexing things about the recent stock market rally is that it has occurred against a backdrop of equity fund outflows and bond fund inflows. In fact, according to the Investment Company Institute (ICI), from the end of 3Q18 through the
Michael Cembalest discusses the aches and pains constraining growth around the world, the severity of these ailments, and the degree of contagion from emerging to developed economies.
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The S&P 500 could hit 10,000 by the mid-2030s