When growth starts to slow and inflation moves higher - that's the most unfavorable set of conditions. And that's exactly the market's nervousness right now.
Despite vaccinations the number of Americans contracting the virus is far greater than a year ago, which stands to impact businesses of all sorts.
Does the cooler core CPI print give the fiscal doves a leg up in negotiating the size and scope of whatever they'll end up passing, probably later this month?
My trades? What am I doing? Maintaining not gargantuan, but elevated cash levels. Not going crazy.
The spread of COVID's latest and scariest variants continue to warp economies across the planet, preventing commerce from functioning more normally.
The market's overall upside reward is materially dwarfed by the downside risk.
The Fed is convinced that endless money printing has no negative consequences.
This payroll result should be a reminder that just because there aren't a lot of new legal restrictions doesn't mean consumers won't change behavior.
Despite my pessimism on the market, when the music is playing you have to dance.
Plus, Morgan Stanley sharply lowers its third-quarter GDP expectations and Dr. Fauci provides little COVID comfort.