Inside Markets — Liquidity Stress Relief
Repo market stress during the government shutdown could have contributed to the recent weakness in equity markets.
Inside Markets — Failsafe
Today’s rebound in the momentum factor follows yesterday’s low-volume ~6.4% selloff in the group.
Inside Markets — Momentum Factor Unwind
The momentum factor unwinds for a fourth time this calendar year with a seasonal preference to own YTD laggards likely in play.
Inside Markets — Mag 7 Underperformance
The recent underperformance in Mag 7 stocks is likely due to a few factors, including seasonal rotation into YTD laggards.
Inside Markets — SPX Reversal
The SPX looks like it’s completed the shallow consolidation phase we were expecting when leadership became unsustainably narrow at the end of October.
Inside Markets — Wall of Worry
Labor market weakness sits at the top of most people’s list of worries, followed by Fed policy, AI visibility, and tariff policy outcomes.
Inside Markets — Near-Term Risk Event
A Supreme Court decision to strike down IEEPA tariffs could cause a short squeeze for heavy importers and a potentially dangerous spike in bond market volatility.
Inside Markets — Consolidation
Narrow market breadth is a bearish internal signal that deserves attention if it lasts more than a few sessions.
Inside Markets — Fundamental Framework
Our bullish fundamental framework from May that includes resilient macro data, better earnings growth and thawing trade tensions remains intact.
Inside Markets — Performance Chase
There is never a shortage of identifiable risks for equity markets with the obvious near-term risk being a ‘nothing done’ on a US-China trade deal.