Overweight We are currently overweight the S&P railroads index in anticipation of financial sector liquidity morphing into real economic growth and thus propelling domestic oriented railroad stocks. There is also another…

Stock market margin debt charts have been making the rounds on the sell-side’s research and popping in the blogosphere and social media platforms. Some pundits showed margin debt as a nine-month rate of change and others as a year-…

Special Report

Highlights President Biden’s proposal to raise the capital gains tax rate from 20% to 43.4% is part of the American Families Plan, which at best has a 50% chance of passing before the 2022 midterm election. Biden will soon…

  Neutral (Downgrade Alert) Soft drinks have taken a beating recently and we are on the lookout for an oversold bounce before we go underweight this consumer goods sub-group, especially given our short-term cautious outlook.…

Highlights Higher copper prices will follow in the wake of China's surge in steel demand, which lifted Shanghai steel futures to an all-time high just under 5,200 RMB/MT earlier this month, as building and infrastructure projects…

  On Tuesday, our 5% rolling stop on the long “Back-To-Work”/short “COIVD-19 Winners” baskets pair trade was triggered. We are obeying the stop and closing the trade for another 20.5% return on top of…

While the Fed remains committed to ZIRP for the remainder of the year, already FOMC members started talking about talking about tapering. The next logical step is for tapering to become reality as the year draws to a close or early in…

Special Report

Highlights EM banks will underperform their DM peers in the next six months due to worsening relative NPL dynamics and shrinking net interest margins. EM banks will either continue experiencing rising NPLs and moribund loan demand due…

In lieu of next week’s strategy report, I will be presenting the first Counterpoint webcast titled ‘Mega-Themes, Coming Shocks, And Top Trades’. I hope you can join. Highlights Standard economic theory assumes that…

  Overweight The niche S&P containers & packaging index is often flying below investors’ radars, but an upbeat global macro picture suggests that an overweight stance is warranted. These neglected materials stocks…