In mid-September, we highlighted the CBOE equity put/call (EPC) ratio that warned investors were complacent. Our goal was to attempt to quantify when the correction would end, and we noted that since the early-2018 “…
Your feedback is important to us. Please take our client survey today Highlights Portfolio Strategy An easy Fed, the drubbing in the US dollar, the opening up of the global economy, poor pharma operating metrics and the specter of a…
The Fed remains a key player enabling the transition from Washington to fiscally loose Buenos Aires consensus as we outlined in this Monday’s Weekly Report. As fiscal valves open and debt piles rise, the bond market will…
Neutral Today, we are removing our downgrade alert from the S&P semiconductors index on the back of an improving macro backdrop. First and foremost, the semi sales cycle is tied to global rates that tend to lead by…
We take the opportunity presented by this week’s indiscriminate equity market selloff to pocket in gains from our long December 2020 expiry VIX futures recommendation from the joint Special Report on July 27 with our…
The equity volatility curve inverted on Monday for the first time since June when the SPX had suffered an 8% pullback. The election and fiscal policy related uncertainty has injected fear back into the equity market and the volatility…
Neutral – Downgrade Alert Sticking to the spirit of covering defensive sectors in this week’s US Equity Sector Insights, today we turn our attention to a major player by market cap weight in the healthcare sector –…
Your feedback is important to us. Please take our client survey today. Underweight In yesterday’s US Equity Sector Insight we highlighted why investors should stay on the sidelines when it comes to the…
Neutral We remain neutral the S&P household products index. A V-shaped economic recovery following a recession has historically been synonymous with this defensive industry underperforming (top panel). However, the…