I. Bonds The Economist just rang the all-clear siren for the bond market (chart). It is safe to buy bonds now that the front ...

I. Bonds The global bond market remains jittery, though yields may be starting to stabilize after their rout in recent months ...

We have spent much of the past few months marveling at Corporate America's Fabulous Earnings Momentum (FEMO). S&P 500 earnings per share growth approached 30% y/y in Q1 and accelerated to more than 50 ...

Is the bond selloff the Revenge of the Bond Vigilantes, i.e., a looming debt crisis? Not yet. Despite the recent surge, the 10-year Treasury yield remains below the growth rate of nominal GDP. That ...

I. Is Wage Growth Accelerating? Wage growth signals labor market conditions. Just as shortages of goods tend to push prices higher, worker shortages tend to push wages higher. When labor demand ...

I. Blue skies ahead for earnings? We are now seven years into our Roaring 2020s thesis, which remains our base case for the rest of the decade, and it has played out very well so far. When we first ...

Today, Ed and Elias take a deep dive into core inflation, i.e., minus volatile food and energy prices. The Fed’s preferred measure, the core PCED, justifies tightening monetary policy—both the recent ...

The S&P 500 fell 0.3% last week. Energy (OW) and Information Technology (MW) led the week’s sector performance derby, both up 1.4%. Utilities (MW) was the only other gainer, up 0.7%. Health Care (OW) ...

Corporate profits are the economy's lifeblood. As Dr. Ed explains in his 2021 book, In Praise of Profits, profits are not merely a reward for economic success; they also drive the economy. Strong ...

The Bond Vigilantes have gone wild worldwide, pushing government bond yields higher in developed and emerging markets alike. A month ago, we asked whether rising yields reflected stronger growth, ...

The 10-year US Treasury bond yield has climbed above 5.25%, and the S&P 500 hasn’t flinched. The stock index is just 2.2% below our year-end target of 7,900. It could overshoot our target in the ...

Most of last week's economic indicator reports were strong: Initial jobless claims fell to near a 57-year low, ADP private payrolls rose 90,000 in September, and the ISM M-PMI was in expansion for a ...