Last week, I wrote: “The bottom line is that there is only one way for the U.S. to bring its balance of payments into normal

Last week, I wrote that: “Trade wars and the end of U.S. exceptionalism crashed global growth expectations and hopes for lower inflation. Indeed, the OECD

Last week, I wrote that: “A shift in sentiment from euphoria to recession fears within a month has priced the idea of a “hard landing”

Last week, I ended my note to readers saying: “With almost every company reporting, earnings for the S&P 500 in Q4/25 have risen by a

I ended last week’s Commentary by saying that the stock market has taken a second breather in the wake of a flurry of rapid-fire statements,

I ended last week’s commentary by saying that the stock market needed to take a breather. Under the flurry of rapid-fire statements, official pronouncements and