How Much More Can We Eek Out Of The Economic Data?
Several months ago we wrote that looser financial conditions should support economic data and stocks through year end. So far … Read more
Knowledge Leaders Capital Blog
Keeping A Close Eye On Momentum In The North American Equity Market
Over the last 20 days, the US equity is showing early signs of exhaustion, and momentum is beginning to weaken. … Read more
Household Equity Surpasses 2006 Peak
The rise in home prices from the trough in 2009 has added $8tn to home values, pushing the value of … Read more
Three Threats To Small Caps
With some exceptions, smaller-cap stocks in the US tend to pay higher taxes than their larger-cap peers. As such, speculation … Read more
The Fundamental Case For Miners
Miners of all sorts have been put in the penalty box in recent years for massively over-investing from 2008-2013 on … Read more
A significant divergence between the components of 10 Year
Employing basic bond math, we can decompose the US Treasury bond into two pieces: real rates and break-even inflation expectations. … Read more
The Rally In Energy Isn’t A Fluke
Since the middle of August the S&P 500 energy sector is up 11.5% compared to just 3% for the index … Read more
Chinks In The Armor And How To Protect Your Portfolio From A Market Decline
Indicators of market breadth are often useful in confirming or telegraphing important trend changes in equity markets. In simple terms, … Read more
The Impossible Math Of The Federal Reserve
Yesterday the Federal Reserve officially signaled the beginning of its balance sheet run-off. At this point, that’s old news. But, … Read more
What Does the QE Experiment Tell us About Rates in a Shrinking Fed Balance Sheet World?
The Federal Reserve is likely to decide next week to begin letting assets roll of its balance sheet as bonds … Read more
Back To The Future: A US Dollar Bear Market?
This slide package is our Knowledge Leaders Strategy mid-quarter update and can be downloaded at the link below. [REITs] Also … Read more
Global PMIs Are Very Strong, But Does That Mean Anything For Stocks?
The upturn in global PMIs over the last year has been substantial and for the first time in years the … Read more
Investors Should Pay Attention To The Foreign Materials And Energy Sectors, They Are Fast Becoming Leadership
We’ve been talking at length recently about the attractiveness of foreign, cyclical stocks here, here, here, and here just over the last … Read more
Retail Investors And Gold
Q2/H1 Hedge Fund Letters – Letters, Conferences, Calls, And More Baupost Letter Points To Concern Over Risk Parity, Systematic Strategies … Read more
The Gold Break-Out In Fixed Income Markets
Today gold is trading over $1,305, for the first time since November 4, 2016. The breakdown in the USD Index … Read more