Fed Chair Powell’s speech at the Economic Club of New York on November 28 brings to mind “The Twelve Days of Christmas,” the age-old English Christmas carol that seems to be ubiquitous on the radio and in stores around this time of year. After Powell’s notably hawkish Oct 3 comments about rates being “a long
November 21, 2018—We can’t help but appreciate the irony of the stock market’s recent activity heading into the Thanksgiving holiday. As we sit around the dinner table on Thursday, the stock market may not be on many people’s “things-to-be-thankful-for” list, at least based on the past few weeks. As of Tuesday, U.S. equity indices had
The price of oil (as measured by West Texas Intermediate crude) has fallen over 27% since its early-October highs, well into “bear market” territory. The decline was arrested on Wednesday, halting the longest stretch of daily declines for oil since the 1970s. Some investors are seeing flashbacks of oil’s most recent collapse, when it fell
