In this Eye on the Market, Michael provides an update on the credit risk of US states based on their unfunded pension and retiree healthcare obligations.
The Fed halted tightening and propelled equities to their fastest recovery ever following a bear market. This decision was made despite the lowest unemployment rate in 40 years. Does that make sense? Also, a possible deal with China.
In this episode, Michael Cembalest takes a look at the recent tariff announcements in the context of historical tariffs since 1900.
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.
For the first time in 20 years, markets will have to survive without support from central banks.
Markets have bounced back nicely in 2019 after a volatile December due to concerns of rising rates, peak economic and earnings growth and geopolitical tensions.
In this year’s Holiday Eye on the Market, Michael records a note to his spouse on her father, the 2020 US Presidential election, and what might be the widest ideological divide in 100 years.