Will the Real Economy Please Stand Up? Investing is never free of uncertainty, and that has felt especially true in the current macro environment. With the release of the first quarter GDP report, however, clarity is dipping its toes back into the market ever so slightly. Let’s dive in. Economic growth in Q1 2025 showed…Read more
Crumbling Sentiment Darkening macro clouds are evident in a wide variety of so-called soft data (qualitative information collected through surveys). According to the American Association of Individual Investors, over the last two months, there have been roughly twice as many bearish investors as bullish ones. That’s not a major surprise given the steady drumbeat of…Read more
Bumpy Start Last week, we wrote that the past few weeks had been a roller coaster. And it looks like we’re still on that ride. Since that April 10 column, the S&P 500 fell to as low as 5115 and as high as 5459, while the 10-year Treasury yield has moved around considerably, with an…Read more
