MARKET NOTEBOOK, March 29, 2020

<CLICK TO READ THIS WEEK’S NOTEBOOK> Market participants experienced historic levels of volatility last week as both equities and bonds rallied on the news of government stimulus plans.  Most importantly, damage in the bond complex was repaired to a large...

MARKET NOTEBOOK, March 22, 2020

 <CLICK TO READ THIS WEEK’S NOTEBOOK> Market participants were indiscriminate in their selling last week of anything not bolted to the floor.  The virus pandemic and associated government response has reduced economic visibility to near zero as the actions...

MARKET NOTEBOOK, March 15, 2020

 <CLICK TO READ THIS WEEK’S NOTEBOOK> The spread of the Coronavirus appears likely to get worse in the U.S. before it gets better.  The real economic impact on the U.S. economy may be significant as activity in multiple countries around the world slows to...

MARKET NOTEBOOK, March 8, 2020

 <CLICK TO READ THIS WEEK’S NOTEBOOK> Coronavirus concerns dominated trading last week as bonds outperformed with the exception of high-yield.  Equity prices as measured by the S&P 500 moved dramatically in both directions and eventually settled...

MARKET NOTEBOOK, March 1, 2020

 <CLICK TO READ THIS WEEK’S NOTEBOOK>  It was a wild ride in both bond and equity markets last week. Bond prices, with the exception of high yield, moved higher while equity prices moved sharply lower on coronavirus fears.  As measured from the beginning...