Market Perspective
Steady Turbulence
04/18/2023
Market Perspective
Investors are facing many challenges and a new investment landscape. Equity valuations are lower, but not cheap, and volatility levels have shifted higher. On the ...
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Real Return Conundrum: Between Rocky Volatility & An Inflationary Hard Place
03/10/2023
Market Perspective
A combination of higher interest rates and signs of slowing growth are putting pressure on valuations. Even with February’s market pullback, the price-to-earnings (P/E) ratio ...
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Is it 1963 or 2002?
02/09/2023
Market Perspective
As traders and professional prognosticators hang on every word from Federal Reserve officials, anticipate each data release with tense fingers hovering over keyboards and debate ...
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Option Writing Premiums Were a Bright Spot in a Dark Year for Investors
01/18/2023
Market Perspective
The Federal Reserve’s (the Fed) monetary policy transition from accommodative to tightening was sudden – asset purchases to support the economy ended in March 2022, ...
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Away from Zero1 – The Not So Mysterious Case of Higher Interest Rates
12/09/2022
Market Perspective
If the story of 2022 stock and bond market returns was written as a whodunit, the crack detective protagonist would have a primary suspect list ...
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Is the Index Option Market Creating Volatility?
11/09/2022
Market Perspective
Trading volume in S&P 500® Index option contracts set a record in October 2022. As Figure 1 shows, trading volume in options on the bellwether ...
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Are Equities On Sale?
10/07/2022
Market Perspective
Savvy shoppers know a “25% Off” sale is not necessarily a good deal. Is the item discounted from a fair price or did the retailer ...
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Monetary Policy Outlook Shifts Volatility Expectations Higher
09/08/2022
Market Perspective
Daily closing values for the Cboe® Volatility Index (the VIX®) have been below its long-term average of 19.61 less than 10% of the time so ...
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Try Not to Think About Elephants
08/10/2022
Market Perspective
Recession. The “Big R” of economics. One of the more confounding aspects of the word is that just hearing it can cause people to behave ...
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A New Era?
07/12/2022
Market Perspective
Wall Street has no shortage of adages and catch phrases. When the equity market hits the skids, old saws such as “be fearful when others ...
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