Rearview to Windshield, June 2023

May ‘23 Market Recap: The S&P 500 gained 0.4% in May and traded in a 100pt range (4056 and 4169), one of the most narrow monthly ranges (11th percentile) in history since the 1930s. The VIX remained low as well. Only 23% of stocks outperformed the S&P 500, the...

The Market in Pictures, May 5

Our team looks at a lot of research throughout each day. A few charts that caught our eye this week, and the way they fit the unfolding puzzle of evidence:   John Luke: Demand for labor continues to surpass economist expectations   Data as of 05.05.2023  ...

May 2023 FOMC: (Still) Higher for Longer

The Fed delivered a 25bps hike as was broadly expected by markets. They made a modification in their statement omitting the wording regarding the necessity of further rate hikes. To us, this indicates a sort of “hawkish” pause in policy here at the 5-5.25%...