January Market Insights
January 5, 2023 — QuantStreet’s Performance in December of 2022 After a very strong performance in October and November of 2022, December was a down month for us, and for global markets in general. We did better in December than the S&P 500 and NASDAQ indexes, which both had weak months, while underperforming the MSCI […]
Crude Oil Markets in Six Charts
December 22, 2022 — 2022 has been a year of geopolitical tumult and of financial market volatility. These two major themes mixed together in the global oil market to produce a somewhat bewildering year of rallies, sell-offs, and supply and demand uncertainty. We will try to make sense of the situation by looking at six […]
U.S. Position in the Current Economic Cycle Relative to Global Peers
December 14, 2022 — With the December 14, 2022 Federal Reserve policy decision out of the way – and largely in line with expectations – we can take a step back and look at where U.S. monetary policy is vis-a-vis other central banks. Figure 1 shows the U.S. 2s-10s curve (10-year government bond yields minus […]
State of the Markets Webinar (Video)
December 7, 2022 — We welcome you to view QuantStreet’s State of the Markets Webinar. QuantStreet Capital offers portfolio management services to financial advisers, institutional investors, and individual investors. Learn more at quantstreetcapital.com. QuantStreet’s CIO, Dr. Harry Mamaysky, presents a quarterly State of the Markets webinar. IMPORTANT LEGAL DISCLOSURE This webinar is provided for general […]
QuantStreet’s First Year in Review
December 5, 2022 — Year in Review The end of November 2022 marks one year since our launch [1], so we decided to get in front of the crowd by one month and share our year-end retrospective in early December. The year began with the economy and financial markets still in a euphoric, post Covid-19 […]
The Long-Run Behavior of Stocks, Government Bonds, and Inflation in the U.S.
December 1, 2022 — To properly guide their clients, financial advisors must have a good understanding of the long-run behavior of stock and bonds returns. A very useful and free data source for this analysis — and a great example of academic work that has great practical value — can be found at macrohistory.net. This […]
The Ever-Evolving Bearish Narrative
November 15, 2022 — With Tuesday’s (Nov 15th) Producer Price Index (PPI) numbers bringing more relief on the inflation side, a new bearish narrative has been put forward by financial pundits over the last few days. The new story goes like this: “While we now acknowledge that the Fed has put in place enough tightening […]
Just When You Thought Things Couldn’t Get Any Better
November 1, 2022 — Overview Market negativity reached a crescendo sometime around the middle of October, as interwoven narratives of doom and gloom occupied investor and media attention. The end of globalization. Out-of-control inflation. The U.K. teetering on the edge of political abyss. Hawkish central banks. Energy shortages. The chart below, which shows the San […]
The Problem with Pundits
October 20, 2022 — The Problem with Pundits It’s fashionable for pundits to comment on the dire state of the global economy. Out-of-control inflation. Deglobalization. Imprudent fiscal policy by newly elected conservative governments in Europe. Hawkish central banks. Energy shortages. The list goes on and on. It is more boring, however, to point out that […]
Fundamentals & Market Prices
October 14, 2022 — The bears should pay more attention to earnings and fundamentals, and less to pricing in ever more dire economic predictions. Yesterday’s CPI report was not happy news, with core and headline numbers both (slightly) higher than expectations. On cue, when the numbers came out, markets sold off. But then, on no […]