The Fat Pitch

The second quarter ends Monday. Over the past three months, equities underperformed bonds by 180bp. Utilities and energy were the equity sec...

Every month, we review the latest BAML survey of global fund managers. Among the various ways of measuring investor sentiment, this is one o...

Trend, breadth and volatility are the primary tailwinds to the rally. SPX and DJIA have both risen 10 out of the last 12 days. SPX has mad...

Last month we reviewed all the main economic data ( post ). Our key message was that (a) growth is positive but modest, in the range of 3-4%...

In a recent post, we looked at factors, including valuation, that will drive SPX returns over the next 12 months ( post ). Since the late ...